Fuel prices in India have climbed for the second time in a single week, with state retailers announcing a hike of nearly one rupee per litre on Tuesday. This latest adjustment brings the cost of petrol to 98.64 rupees and diesel to 91.58 rupees in Delhi, though final prices fluctuate across the nation due to differing regional tax structures. As the world’s third-largest oil consumer, India is grappling with the economic aftermath of global supply chain disruptions, which have pushed international crude oil prices past the $120-per-barrel mark.

State-run companies, including Indian Oil Corp and Bharat Petroleum, have been forced to pass on costs as they face mounting losses, reportedly reaching 7.5 billion rupees daily. While the government has yet to offer direct financial intervention, critics and opposition figures argue that the recent price hikes were strategically delayed until after key state elections. With Prime Minister Narendra Modi now encouraging citizens to moderate fuel consumption, the government appears focused on navigating this fiscal pressure while managing the impact of rising energy costs on the broader economy.