As the Middle East crisis affects global fuel prices, India has experienced relatively minor price increases compared to other countries. Despite the ongoing turmoil, India’s petrol and diesel prices have remained largely unchanged over the past few months. The slight revision in prices, around Rs 7 per liter, translates to a modest increase of about seven and a half percent.
Major developed economies now sell petrol at prices exceeding Rs 150 per liter, with many surpassing Rs 180. In contrast, India’s fuel prices remain comparatively lower, with petrol and diesel prices in Delhi currently at Rs 102.12 and Rs 95.20 per liter, respectively. India’s neighboring countries like Pakistan and Nepal have seen prices soar above Rs 135 per liter, while Sri Lanka, Myanmar, and the Philippines have crossed Rs 130 per liter.
Unlike many other countries, India has refrained from passing on the full brunt of the increased costs to consumers. While most economies have significantly raised fuel prices, India has maintained a more conservative approach. The recent upward adjustment of around Rs 7 per liter in India is notably smaller compared to other major economies, showcasing a cautious pricing strategy amid the global fuel price surge.
