Will Fuel Prices Increase in India: India has finally gone and increased the rate of petrol and diesel by Rs 3 a litre. That was bound to happen given the war in the Middle East and the supply disruptions. The hike is modest, according to experts, and there could be more coming. They suggest by how much more petrol and diesel prices can go up by.

Petrol and diesel prices rise by ₹3 per litre, reflecting increased global energy costs.

Petrol and diesel prices rise by ₹3 per litre, reflecting increased global energy costs.

India had so far avoided a major increase in retail fuel prices despite surging global crude oil prices as a result of the West Asian conflict. However, speculation over another round of hikes had been building for days as global crude continued to climb.

With the latest revision, petrol prices in Delhi rose from Rs 94.77 to Rs 97.77 per litre, while diesel rates increased from Rs 87.67 to Rs 90.67 per litre. 

Petrol and diesel prices in India are likely to be hiked before May 15 as state-run oil marketing companies face rising financial stress amid a sharp surge in global crude oil prices, sources told India Today TV.