Fuel Prices May Rise by ₹4–5 per Litre in India, LPG Hike of ₹50 Likely

New Delhi, May 2, KNT: Petrol and diesel prices in India are likely to be increased by ₹4–5 per litre, while domestic LPG cylinder rates may see a hike of around ₹50, with a decision expected within a week, according to reports.

The proposed revision comes amid a rise in global crude oil prices, which has put pressure on domestic fuel pricing. Reports indicated that the government is closely monitoring the situation and may soon take a call on revising retail fuel rates.

The expected increase in petrol and diesel prices could have a direct impact on transportation costs and overall inflation, given the central role of fuel in logistics and supply chains.

Similarly, a hike in domestic LPG prices would affect household budgets, particularly in urban and semi-urban areas where cooking gas is widely used.

Reports said the government is also weighing measures to cushion the inflationary impact, even as it acknowledges the upward trend in crude oil prices globally.

Fuel prices in India are subject to market-linked revisions, though adjustments are often influenced by broader economic considerations, including inflation and public impact.

Further clarity is expected in the coming days as authorities finalize their position. [KNT]