Petrol Crosses Rs 100 in Delhi After Fourth Fuel Price Hike in 10 Days
Delhi residents are once again feeling the pressure at fuel stations as petrol prices crossed Rs 100 per litre in the national capital following another sharp increase by state-run oil companies. The latest revision, announced on May 25, marks the fourth fuel price hike in just 10 days, adding to concerns over inflation and rising household expenses.
With global oil markets witnessing turbulence due to West Asia geopolitical tensions, including the ongoing US-Iran conflict and fears of disruptions in the Strait of Hormuz, fuel prices in India are seeing significant upward pressure.
Petrol and Diesel Prices Rise Again
State-run oil marketing companies increased:
- Petrol price by Rs 2.61 per litre
- Diesel price by Rs 2.71 per litre
This latest jump pushed Delhi petrol prices above the Rs 100 mark, while diesel rates also climbed significantly. Since May 15, petrol and diesel prices have increased nearly Rs 7.5 per litre cumulatively, making this one of the sharpest fuel hikes in recent months.
Several metro cities have also reported fresh increases, adding pressure on transport costs and daily essentials.
Why Are Petrol Prices Rising in India?
The main reason behind the sudden spike is the sharp rise in global crude oil prices.
India imports nearly 85% of its crude oil requirements, making domestic fuel prices highly sensitive to international developments. Recent geopolitical instability in West Asia has raised fears about oil supply disruptions.
Experts point to:
1. US-Iran Conflict Escalation
Tensions between the United States and Iran have triggered concerns in global energy markets. Any military escalation in the region directly impacts crude supply expectations.
2. Strait of Hormuz Disruption Fears
The Strait of Hormuz, one of the world's most critical oil shipping routes, has faced uncertainty amid rising regional tensions. Since a large share of global oil exports passes through this route, disruptions often push crude prices sharply higher.
3. Crude Oil Prices Crossing $100 Per Barrel
At peak levels during recent volatility, India’s crude import costs reportedly surged above $100 per barrel, forcing oil companies to revise retail fuel prices.
Industry analysts warn that if tensions continue, further price increases cannot be ruled out.
Political War Over Rising Fuel Prices
The latest fuel hike has sparked a major political debate.
Senior opposition leader Rahul Gandhi criticized the central government, arguing that fuel taxes remain excessively high despite global crude prices being lower than levels seen in 2014.
Opposition parties claim ordinary citizens are bearing the burden of inflation while demanding reductions in excise duty and taxes on fuel.
On the other hand, Finance Minister Nirmala Sitharaman defended the government’s position, stating that oil marketing companies had absorbed losses for nearly 76 days before increasing prices.
She also pointed out that rising fuel prices are being seen globally and are not unique to India, emphasizing the impact of international crude market volatility.
How Rising Fuel Prices Affect Common People
The impact of rising petrol and diesel prices goes beyond vehicle owners.
Higher fuel costs can lead to:
- Increased transportation expenses
- Higher food delivery and logistics costs
- Rise in vegetable and grocery prices
- More expensive cab and auto fares
- Pressure on inflation across sectors
For middle-class households and daily commuters, repeated hikes are becoming increasingly difficult to manage.
Will Petrol Prices Rise Further?
Experts believe future fuel prices will largely depend on global crude oil trends and developments in West Asia.
If geopolitical tensions ease and oil supply stabilizes, prices may cool down. However, any prolonged disruption in crude shipments could result in additional hikes in the coming weeks.
For now, consumers across India are closely monitoring daily fuel revisions, hoping for relief after a difficult stretch of rising prices.
