Indian Retailers Raise Fuel Prices for Third Time in May
State-owned retailers increased petrol and diesel prices in New Delhi to recoup losses from high crude costs during the Iran war. Despite the third hike this month, Bharat Petroleum reports ongoing revenue losses as the government denies financial support.
State-owned fuel retailers in India raised petrol and diesel prices for the third time this month on Saturday. The hikes aim to recoup losses from elevated Brent Crude Oil prices triggered by the conflict between the United States, Israel, and Iran. Higher energy costs threaten to stoke inflation in the world's third-largest oil consumer.
### Retail Prices Climb in New Delhi Petrol in New Delhi rose 0.87 rupees to 99.51 rupees per litre, while diesel increased 0.91 rupees to 92.49 rupees per litre, dealers said. These adjustments have added approximately 5 rupees to the cost of fuel over three separate increases. The initial hike on May 15 ended a four-year price freeze.
