India raises petrol, diesel and CNG prices for fourth time in two weeks

India’s state‑run oil marketing companies increased retail petrol and diesel prices for the fourth time in less than two weeks, taking Delhi’s petrol price to ₹102.12 per litre and diesel to ₹95.20 per litre. Compressed natural gas (CNG) in the capital also rose by ₹2 to ₹83.09 per kg, marking the fourth CNG hike since mid‑May. Cumulative fuel price increases since May 15 total about ₹7.5 per litre, pressuring household budgets and logistics costs.

The government said the hikes are driven by higher global crude prices and ongoing West Asia tensions, which have strained oil imports. To shield consumers, the Centre has cut excise duties on petrol and diesel, costing about ₹1 lakh crore in revenue and forgoing roughly ₹14,000 crore in tax receipts. Despite the price rises, public‑sector oil firms continue to lose around ₹600 crore‑₹1,000 crore per day because of under‑recoveries and rising crude costs.

Finance Minister Nirmala Sitharaman warned of the “three Fs” – fuel, fertiliser and foreign exchange – as the main external risks and criticised narratives of economic gloom. Ola’s chief executive Bhavish Aggarwal noted a surge in EV demand from gig‑economy operators as fuel costs rise.