State-run oil marketing companies have raised petrol and diesel prices for the second time in less than a week due to increasing global crude oil prices. This move has sparked worry among people in Delhi and parts of Uttar Pradesh about the growing financial strain. A garment seller in Delhi mentioned that the fuel price hike is particularly challenging for those reliant on daily earnings, like himself in the clothing business.
In response to the price hike, a commuter in Delhi highlighted the impact on daily routines, stating that the ongoing global circumstances are affecting many countries. Residents in various areas, including Basti and Ballia in Uttar Pradesh, also shared their concerns about the continuous rise in fuel prices. A local resident in Basti expressed resignation, acknowledging that the rising prices are a part of life and manageable for those with stable employment.
In Chandigarh, another resident called for government intervention to stabilize fuel prices, emphasizing the need to prevent further increases. Following the recent adjustment, petrol prices in the national capital reached Rs 98.64 per litre, while diesel prices climbed to Rs 91.58 per litre. This price surge comes after the first hike in over four years on May 15, attributed to geopolitical tensions and the spike in global crude prices due to the US-Iran conflict.
The latest increase in fuel prices coincides with a series of hikes in compressed natural gas (CNG) rates. India’s major city gas distributor, Indraprastha Gas Limited (IGL), raised CNG prices by Re 1 per kg across its network, marking the second increase in 48 hours. Global crude oil prices have risen over 50% since the escalation of tensions involving Iran earlier this year, disrupting oil supplies through critical routes like the Strait of Hormuz.
