Petrol and diesel prices were increased by Rs 3 per litre on Friday, marking the first fuel price hike in more than four years amid rising global crude oil prices.
Following the revision, petrol in Delhi now costs Rs 97.77 per litre, up from Rs 94.77, while diesel prices increased from Rs 87.67 to Rs 90.67 per litre.
The hike comes just over two weeks after Assembly elections concluded in Assam, Kerala, Tamil Nadu and West Bengal. Fuel prices had remained unchanged during the election period despite fluctuations in the international oil market.
Industry sources said state-run fuel retailers have been facing mounting losses due to the sharp rise in crude oil prices linked to the ongoing tensions in West Asia.
The increase is expected to have a wider impact on transportation costs and the prices of essential commodities across the country.
