New Delhi, May 2:
Petrol and diesel prices in India may soon see an increase of ₹4–5 per litre, while domestic LPG cylinder prices could rise by ₹40–50, according to government sources, with a final decision expected shortly.
The proposed revision comes amid mounting pressure on oil marketing companies due to a sharp surge in global crude oil prices, driven by geopolitical tensions in West Asia. If approved, this would mark the first increase in retail fuel prices in nearly four years, as rates have largely remained unchanged since 2022.
Officials indicated that rising crude prices—well above the comfort threshold—have strained the finances of fuel retailers, prompting discussions on passing on part of the burden to consumers.
However, no final decision has been announced yet, with the government expected to weigh inflation concerns before implementing any increase.