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Bengaluru/New Delhi: Petrol and diesel prices have witnessed a sharp increase across major Indian cities following global crude oil volatility triggered by the ongoing US-Iran conflict, raising fears of further inflation and economic pressure on common citizens.
The latest fuel price hike, which comes shortly after Prime Minister Narendra Modi’s appeal for fuel conservation and “limited usage”, is now being viewed as only the beginning of a larger wave of inflationary burden.
Economic experts have warned that fuel prices may rise by as much as ₹10 to ₹15 per litre in the coming weeks if international crude oil prices continue to surge.
Petrol and Diesel Prices Rise Across Major Cities
The revised fuel prices have already pushed petrol rates beyond ₹100 in several cities.
Latest Fuel Prices in Major Indian Cities
| City | Petrol Price | Diesel Price |
|---|---|---|
| Bengaluru | ₹106.07 | ₹94.10 |
| Delhi | ₹97.77 | ₹90.67 |
| Kolkata | ₹108.00 | ₹95.00 |
| Mumbai | ₹106.00 | ₹93.00 |
| Chennai | ₹103.00 | ₹95.00 |
| Hyderabad | ₹110.00 | ₹98.00 |
In addition to petrol and diesel, CNG prices have also reportedly increased by nearly ₹2 per litre in several regions.
Fuel Price Hike Linked to Global Tensions
According to reports, the ongoing geopolitical conflict involving the United States and Iran has significantly impacted crude oil supply and import costs globally.
The Centre had reportedly attempted to absorb part of the burden earlier through excise duty adjustments and balancing measures to protect consumers during the initial phase of the crisis.
However, rising import costs and widening current account pressure have now forced oil companies to revise retail fuel prices upward.
“This May Be Just the Trailer”
Analysts believe the current price increase may only be the beginning.
Economic experts have indicated that if international crude oil prices continue climbing, India could witness another ₹10 to ₹15 increase per litre in phases over the coming days and weeks.
One expert stated that fuel companies may gradually implement the hikes in smaller slabs instead of a single sharp revision.
Common Citizens Express Anger
The increase has triggered frustration among middle-class families, daily commuters and transport operators.
Citizens said rising fuel prices directly impact household budgets, work-related travel and essential expenses.
Many questioned how ordinary salaried employees and lower-income families would manage if fuel prices continue to rise further.
Impact on Food, Transport and Daily Essentials
Experts warned that diesel price hikes would have a cascading impact on transportation and logistics costs across India.
Since nearly 65 percent of goods transportation in India depends on road transport, most of which runs on diesel vehicles, prices of multiple commodities are expected to increase.
Possible sectors likely to be affected include:
- Vegetables and fruits
- Milk and dairy products
- Rice, pulses and edible oils
- Cement and construction materials
- Auto and cab fares
- School van charges
- Online delivery services
- Public and private bus ticket fares
Private Bus Operators Increase Fares
Private bus operators in Karnataka have already announced fare hikes ranging from 20 to 30 percent following the fuel price increase.
Private Bus Owners Association President Nataraj Sharma said operators were left with no option due to rising operational expenses.
However, Karnataka Transport Minister R. Ramalinga Reddy clarified that ordinary permit-holding private buses cannot arbitrarily increase fares and that such decisions require approval from district-level committees.
He added that high-end buses operating under All India permits function differently and are outside direct state fare control.
More Inflation Feared Ahead
With international crude oil prices continuing to remain volatile due to geopolitical tensions, experts believe inflationary pressure could intensify further in the coming weeks.
Consumers now fear that the latest fuel hike could significantly increase the cost of living across sectors ranging from food to transportation and daily essentials.
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