Recent Surge in Petrol and Diesel Prices in India

Overview of Recent Fuel Price Increases

India has experienced its fourth increase in petrol and diesel prices within a span of less than two weeks, with a rise of approximately Rs 7.5 per litre. Currently, petrol prices have surpassed the Rs 100 threshold in all major metropolitan areas. This surge in fuel costs is influenced by global crude oil prices, fluctuations in the rupee, and domestic taxation policies.

Historically, petrol prices in India began at just 25 paise per litre at the time of independence, and projections indicate that by 2026, prices will have escalated significantly.

Since independence, petrol prices have consistently risen, driven by various factors including global oil price changes, the rupee-dollar exchange rate, and government tax and subsidy policies.

Historical Timeline of Petrol Prices in India:

1947: Petrol prices ranged from Rs 0.25 to Rs 0.27 per litre.

1970: Prices increased modestly to Rs 0.90 per litre.

1990: Prior to economic liberalization, petrol was regulated by the government, with prices at Rs 9.84 per litre.

1996: Prices doubled, reaching Rs 21.13 per litre.

2000: The start of the millennium saw petrol priced at Rs 25.94 per litre, with minimal fluctuations.

2005: A significant increase occurred, with petrol prices hitting Rs 43.51 per litre, becoming a key political issue.

2010: Fuel prices stabilized after five years, with petrol at Rs 51.43 per litre during a period of rapid economic growth.

2014: Prices surged to Rs 72 per litre.

2020: Amid the global pandemic, petrol prices remained steady at Rs 80 per litre.

2026: Recently, petrol prices have seen four consecutive hikes in less than two weeks, exceeding Rs 100 in all major cities.