India's Fuel Price Rollercoaster: A Perfect Storm of Global and Domestic Pressures The latest fuel price hike has pushed retail rates sharply higher in major Indian cities, underscoring the country's vulnerability to global market fluctuations.
Since daily revisions resumed on May 15, petrol prices have risen by nearly Rs 7. 5 per litre, with rates reaching as high as Rs 115. 73 per litre in Hyderabad and diesel rates touching Rs 103.
82 per litre in the same city. Critics argue that Indian oil marketing companies' decision to revise rates amid rising global crude prices and a weakening rupee has left consumers exposed to shocks.