NewsIndia

If approved, this would mark the first increase in petrol and diesel prices in nearly four years. Prices may rise by around Rs 4–5 per litre. Domestic LPG cylinders could also see a hike of about Rs 40–50.

Retail rates have remained largely unchanged since 2022. State-owned fuel retailers incur losses of about Rs 20 per litre on petrol and roughly Rs 100 per litre on diesel. These losses have prompted oil marketing companies to seek adjustments.

The increase is driven by a sharp rise in global crude oil prices due to the ongoing conflict in West Asia. The government is closely monitoring the evolving situation and its impact on global energy markets.

Key facts:

• Petrol and diesel prices may increase by around Rs 4–5 per litre.
• Domestic LPG cylinders could see a hike of about Rs 40–50.
• State-owned fuel retailers are incurring losses of about Rs 20 per litre on petrol and roughly Rs 100 per litre on diesel.

The Ministry of Petroleum and Natural Gas stated that retail pump prices have been kept unchanged. However, no final decision has been announced yet regarding the price hike. The government is expected to make a decision within the next 5–7 days.