India witnessed another fuel price hike on May 19, with petrol and diesel rates rising by nearly 90 paise per litre nationwide.
This marks the second increase within a week, adding pressure on household budgets, transportation costs, and inflation concerns.
In Delhi, petrol prices climbed to Rs 98.64 per litre, while diesel reached Rs 91.58 per litre. Mumbai, Kolkata, Chennai, and Bengaluru recorded similar increases, with local taxes influencing final retail rates.
The latest hike follows a Rs 3 per litre increase last week, the first major revision in nearly four years. Officials linked the repeated hikes to surging global crude oil prices, which have crossed $110–120 per barrel amid escalating Middle East tensions, particularly disruptions around the Strait of Hormuz, a critical oil supply route.
Public sector fuel retailers, including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum, continue to face heavy daily losses despite the revisions. Analysts warn that sustained high oil prices could trigger a cascading effect on the economy, raising transport and logistics costs and impacting essential goods and services. Public transport fares, food delivery charges, agricultural transport, and supply-chain expenses are expected to rise further.
The government assured citizens that fuel supplies remain stable, dismissing viral claims of an immediate Rs 10–12 hike. Officials urged people not to panic, but experts caution that inflationary pressures and a weakening rupee could worsen if crude prices remain elevated.
