Image credit: Deccan Herald

Petrol prices in Mumbai, India’s financial centre, have climbed to 113.35 per litre. Here you can get the most recent fuel prices.

India’s petrol prices rose for the fourth time this week on Saturday, as the government faces criticism from the opposition over inflation and other issues. On Friday, however, Finance Minister Nirmala Sitharaman ascribed the rise in diesel and gasoline prices to the month-long conflict in Ukraine.

According to the news agency PTI, the price of fuel and gasoline increased by 80 paise per litre on Saturday. Petrol will now cost 98.61 per litre and diesel will cost 89.87 per litre in Delhi. Petrol prices in Mumbai, India’s financial centre, have jumped to 113.35 per litre, while diesel is now at 97.55 per litre. Fuel prices were hiked for the first time in four months on Tuesday. On Friday, the country as a whole experienced a spike.

Faced with criticism, Sitharaman claimed on Friday that rising fuel prices are due to supply chain disruptions caused by the Russia-Ukraine conflict. Oil marketing companies are procuring crude oil at 15-day average pricing, which is higher owing to the Russia-Ukraine war, according to her.

“That has an impact on all countries.” When India is globally integrated into the value chain, supply chains are disturbed, particularly in the case of crude oil, she said.

Rahul Gandhi, the Congress leader, is one of those who have criticised the government over the problem. The government’s “lockdown” on gas, diesel, and petrol prices, he stated, has been lifted. He went on to say that “now the government will continue to “improve” the pricing, noting that this is the first price increase since November. The opposition claims that the government has been hiking prices since the elections in five states were completed.

Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp are the three largest gasoline retailers in India. Diesel and gasoline prices in the United States are intrinsically linked to global pricing, which grows in lockstep with crude oil prices.

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