Delhi petrol crosses ₹102 after 4th hike, diesel ₹95.20

Fuel prices up despite crude decline

Since May 15, petrol and diesel prices have jumped by nearly ₹7.50 per liter, which is making inflation worries worse for everyone.
Oddly enough, this comes even as global crude oil prices have actually dropped a bit recently.
The main reason? State-run oil companies are trying to recover from heavy losses during earlier price freezes and are now also dealing with higher delivery costs thanks to ongoing geopolitical risks around key supply routes like the Strait of Hormuz.

If tensions flare up there again, experts warn we could see fuel get even pricier.