Petrol, diesel and CNG prices continue to rise, up to Rs 5 in 9 days
Tamil Nadu: Retail prices of petrol and diesel were raised again on Saturday. This is the third consecutive increase in fuel prices. With the latest hike, the price of petrol has risen by 87 paise per liter and diesel by 91 paise per liter. This increase has further increased the burden on the general public.
According to information released by oil companies, petrol and diesel prices have increased by a total of approximately ₹5 per liter in the last nine days. This continuous increase has begun to impact transportation costs and daily needs.
Similarly, the price of compressed natural gas (CNG) used in vehicles has also been increased by ₹1 per kilogram. With this increase, the total price of CNG has increased by approximately ₹4 per kilogram in the last nine days. The continuously rising fuel prices have increased the concerns of drivers and those involved in the transportation business.
Oil companies say that factors such as a shortage of crude oil in the international market and the ongoing conflict in West Asia have led to volatile crude oil prices. Consequently, fuel prices are being increased to adjust prices in the domestic market and offset losses.
According to reports, a significant increase in fuel prices was also announced on the 15th. At that time, petrol and diesel prices were increased by ₹3 per liter each, while CNG prices were increased by ₹2 per kilogram. The price hike has continued since then.
Experts believe that the continued rise in fuel prices could impact inflation, as rising transportation costs impact the prices of goods and services. This situation could further increase economic pressure on ordinary consumers.
Currently, market prices remain volatile, and further changes are expected in the coming days depending on the international crude oil situation. Consumers are hoping for relief from the ever-rising fuel prices, but the possibility of stability in the current situation seems slim at the moment.
