India raises gasoline and diesel prices by ₹3 per liter
Fuel just got pricier in India, with gasoline and diesel both rising by ₹3 per liter, the first hike since March 2024.
The reason? Global oil prices have shot past $100 a barrel thanks to the Persian Gulf conflict, pushing costs up for everyone.
Even with this hike, state-run fuel companies are still losing money, and people familiar with the matter say we could see another ₹2 to ₹4 per liter increase if global prices stay high.
Refiners halve ₹10 billion daily losses
State refiners (who supply most of our fuel) were losing about ₹10 billion every day selling at old rates; the new price cuts those losses in half but doesn't solve the problem.
To help out, PM Modi is encouraging people to work from home, use public transport, or switch to EVs.
In Delhi, the government is rolling out staggered office hours and asking employees to work remotely two days a week, staggering office hours, and shifting more meetings online to save fuel.