Escalating tensions in the Middle East are now beginning to affect consumers in India, as fuel prices continue to climb across the country. Petrol prices were increased once again on Saturday by 87 paise per litre, while diesel prices saw a sharper rise of 91 paise per litre.
This is the third fuel price hike in just 10 days. With the latest revision, petrol and diesel prices have cumulatively increased by nearly Rs 5 per litre during May.
The first major increase was announced on May 15, when oil marketing companies raised the prices of both petrol and diesel by Rs 3 per litre. A second hike followed on May 19, with petrol prices going up by 87 paise and diesel by 91 paise per litre. After Saturday’s revision, petrol prices in Delhi climbed from Rs 98.64 to Rs 99.51 per litre, while diesel rates rose from Rs 91.58 to Rs 92.49 per litre.
Amid rising concerns and social media rumours about possible fuel shortages and supply disruptions, the Union Ministry of Petroleum and Natural Gas assured citizens that there is no shortage of petrol or diesel anywhere in the country. The ministry stated that fuel reserves remain adequate and supply chains are operating normally across India.
“We appeal to all citizens not to pay attention to rumours and avoid panic buying. Fuel is sufficiently available and supplies are stable,” the ministry stated.
The ministry further clarified that temporary crowding reported at some petrol pumps is being managed swiftly. It added that Oil Marketing Companies (OMCs) are closely monitoring the situation and coordinating continuously to ensure uninterrupted fuel supply nationwide.