The government on Friday raised the prices of petrol and diesel by Rs 3 per litre after state-run oil companies faced mounting losses due to a sharp rise in global crude oil prices triggered by the ongoing West Asia conflict. India has kept its petrol and diesel prices unchanged for four years- ever since the Russia-Ukraine conflict started.
According to experts and economists, the recent hike in petrol and diesel prices may only mark the beginning of a staggered increase in fuel rates, reports TOI. If the Middle East crisis persists and global crude oil prices remain above $100 per barrel, fuel prices could continue to rise in the coming days.
