Petrol-diesel prices hiked for the fourth time, up by more than Rs 7 in 10 days
Tamil Nadu: Petrol and diesel prices have risen again in the country. This is the fourth increase in fuel prices in the last two weeks. Monday’s latest price hike has placed an additional financial burden on the general public and motorists. The continued price hike is feared to impact transportation and daily living costs.
According to reports, the price of petrol has been increased by ₹2.46 per liter and diesel by ₹2.57 per liter. Overall, petrol prices have risen by ₹7.2 per liter and diesel by ₹7.38 per liter in the last 10 days. This continuous increase is a cause for concern for consumers.
It is reported that the ongoing war in West Asia and the situation in the Strait of Hormuz have affected crude oil supplies. Consequently, the disruption in international crude oil supplies is leading to price volatility. This is having a direct impact on the domestic market, leading to an increase in petrol and diesel prices.
According to sources, Prime Minister Narendra Modi recently appealed to citizens to reduce their consumption of petroleum products to conserve energy resources and mitigate the impact of international market volatility. However, despite this, prices continue to rise.
This latest increase is affecting the general public, especially daily commuters and those involved in the transportation business. Rising transportation costs are expected to impact commodity prices as well. Many say that the continuously rising fuel prices have impacted household budgets.
As of the current situation in Chennai, the price of petrol has reached ₹107.77 per liter and the price of diesel has reached ₹99.55 per liter. These levels are considered significantly higher than in recent times. The continuously rising prices have increased consumer anxiety.
Economic experts believe that fuel prices may remain volatile until international crude oil supplies normalize. The government and related agencies are monitoring the situation, but at present there seems to be little possibility of relief in prices.
