Petrol Prices Cross ₹100 in Several Cities After ₹5 Hike, Panic Buying Reported
thedailyjagran
New Delhi: Petrol prices across India have surged sharply, with private fuel retailer Nayara Energy increasing rates by over ₹5 per litre. The hike has pushed fuel prices beyond ₹100 in several major cities, triggering panic buying and long queues at petrol pumps.
Global Tensions Impact Fuel Prices
The spike comes amid growing instability in global oil markets due to rising tensions involving Iran and the United States. Disruptions around the Strait of Hormuz—a key global oil transit route—have raised concerns about supply constraints, leading to increased crude prices worldwide.
City-Wise Price Surge
Fuel prices have climbed significantly in urban centres. Hyderabad currently records the highest petrol price among major cities at ₹107.46 per litre, followed by Kolkata at ₹105.41 and Mumbai at ₹103.54. Bengaluru and Bhubaneswar have crossed ₹102, while Chennai has reached ₹100.80 per litre.
In northern cities, prices remain comparatively lower but still elevated, with Gurugram at ₹95.57, Noida at ₹95.16, and New Delhi at ₹94.77 per litre.
Diesel prices have also risen, with Hyderabad leading at ₹95.70 per litre, followed by Bhubaneswar, Chennai, and Kolkata, reflecting widespread cost pressures.
The sudden hike has led to panic buying in several states, with consumers rushing to refuel amid fears of further increases. However, the government has reiterated that there is no shortage of fuel and that supplies remain stable.
Industry experts attribute the rise to a combination of global crude price fluctuations, logistical disruptions, and domestic taxation structures.
The surge in fuel prices is expected to have a cascading effect on household budgets, transportation costs, and inflation. Higher fuel costs typically lead to increased prices of essential goods, amplifying the burden on consumers.
With global uncertainty continuing, fuel prices are likely to remain volatile in the near term.
The latest hike underscores the vulnerability of domestic fuel prices to international developments. While authorities have assured adequate supply, rising costs remain a key concern for consumers and policymakers alike.
Our Final Thoughts
The recent fuel price surge highlights how deeply global geopolitics can influence everyday life in India. While supply remains stable, rising prices directly impact household expenses and overall inflation. The situation also underlines the need for long-term energy diversification and reduced dependence on volatile global markets. As uncertainty persists, managing price stability will remain a critical challenge for both the government and the energy sector.