In a significant move, India raised petrol and diesel prices by ₹3 per litre each on Friday, effective immediately nationwide. In Delhi, the new petrol price stands at ₹97.77 after a hike of ₹3.14, while diesel climbed to ₹89.74 with an increase of ₹3.11.
Affected cities like Ahmedabad saw petrol priced at ₹97.49 following a hike of ₹3.20 and diesel priced at ₹93.26 after a rise of ₹3.31.
Additionally, compressed natural gas (CNG) also saw an uptick in price, now costing ₹79.09 per kilogram in Delhi after an increase of ₹2.
This sharp rise is likely to exacerbate inflation across the country, impacting household budgets and elevating living costs for millions of Indians.
As transportation expenses surge, the prices for essential goods—like vegetables and dairy products—are expected to follow suit. Notably, Amul recently raised milk prices by ₹2 per litre just days before these fuel hikes.
The burden falls heavily on middle-class families and lower-income groups already struggling with rising food and utility costs; they might face even tighter financial constraints as businesses consider passing down increased operational costs to consumers.