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The Economic Times

Business

Petrol, diesel prices hiked by Rs 3/litre: Here’s what top economists have to say

Oil Petrol West Asia India

India on Friday raised petrol and diesel prices by around Rs 3 per litre, marking the first fuel price hike in over four years, as state-run oil marketing companies moved to offset mounting losses from soaring global crude prices amid the escalating West Asia conflict.

In Delhi, petrol prices increased by Rs 3.14 per litre to Rs 97.77, while diesel prices rose by Rs 3.11 to Rs 90.67 per litre. Similar increases were seen across metros and other cities as crude oil prices remained elevated following disruptions around the Strait of Hormuz, a key global energy shipping route.

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