NEW DELHI, May 19: India on Tuesday increased petrol and diesel prices for the second time in a week, as state-run fuel retailers moved to recover losses caused by rising global crude oil prices amid disruptions linked to tensions in the Middle East.
Fuel dealers in Delhi said petrol prices rose by about 0.9 rupees per litre, taking the retail price to 98.64 rupees from 97.77 rupees. Diesel prices increased to 91.58 rupees per litre from 90.67 rupees.
The latest increase follows a sharper hike announced last Friday, when India raised petrol and diesel prices by 3 rupees per litre — the country’s first fuel price increase in four years.
India, the world’s third-largest importer and consumer of oil, had been among the few major economies that had not adjusted retail fuel prices despite a surge in global crude prices triggered by disruptions to shipping through the Strait of Hormuz following the conflict sparked by US-Israeli attacks on Iran.
Global oil prices had briefly surged above $120 per barrel before easing slightly after US President Donald Trump said he had postponed a scheduled attack on Iran.
State-owned fuel retailers — Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum — which together operate more than 103,000 fuel stations across India, generally revise prices in tandem.
Meanwhile, in recent elections, the Bharatiya Janata Party (BJP) PM Narendra Modi's political party, achieved a major victory in West Bengal, ending the long rule of the Trinamool Congress, and also retained power in Assam for another term. In Tamil Nadu, the newly formed party Tamilaga Vettri Kazhagam (TVK) led by actor-politician Vijay, emerged as the single largest party and formed the government, marking a major political shift in the state. In Kerala, the Congress-led United Democratic Front (UDF) returned to power after defeating the Left Democratic Front (LDF), completing a significant change in leadership across multiple southern and eastern states.
