If approved, this would mark the first increase in petrol and diesel prices in nearly four years. A potential rise of around Rs 4–5 per litre could significantly impact consumers already grappling with inflation concerns.
The proposed price hike is driven by a sharp increase in global crude oil prices due to ongoing conflicts in West Asia. Oil marketing companies have been absorbing losses while retail rates have remained largely unchanged since 2022.
Key facts:
- Petrol and diesel prices may increase by approximately Rs 4–5 per litre.
- Domestic LPG cylinders could see a hike of about Rs 40–50.
- State-owned fuel retailers are currently incurring losses of about Rs 20 per litre on petrol and roughly Rs 100 per litre on diesel.
The Ministry of Petroleum and Natural Gas confirmed that retail pump prices for petrol, diesel, and domestic LPG have been kept unchanged amid rising costs. Government sources stated, “The government is closely monitoring the evolving situation in West Asia and its impact on global energy markets.”
Officials expect a decision regarding the price hike within the next 5–7 days. However, no final decision has been announced yet regarding the price adjustments.
