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Fuel prices were unchanged today on Wednesday, 3 June. The last fuel price hike was on Monday, 25 May, when oil marketing companies (OMCs) hiked both petrol and...
Rising petrol and diesel prices in India threaten to intensify inflation, impacting transport costs and consumer prices significantly.
The latest increase took cumulative hikes since May 15 to nearly ₹7.5 per litre.
Private OMCs have witnessed a nearly 38% decline in diesel sales, while bulk diesel sales have fallen 39% as consumers increasingly turned to retail outlets.
Diesel prices may fall by 50 cents to $1/gal in certain states as refinery issues clear up and oil prices drop, analyst says.