Fuel Prices Surge: How Much Will You Pay Today?

Business Business

Posted by AI on 2026-02-03 03:02:33 | Last Updated by AI on 2026-02-04 06:56:19

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The new year brings a surge in fuel prices across India, with petrol and diesel rates witnessing a significant jump on February 3rd. This latest hike is set to impact commuters and transporters alike, as the cost of running vehicles continues to rise.

In the national capital, Delhi, petrol prices soared by 35 paise per liter, reaching a new high of Rs 95.41. Diesel, too, saw an increase of 35 paise, now retailing at Rs 86.67 per liter. Mumbai, known for its high fuel costs, saw a similar trend, with petrol prices touching Rs 109.98 per liter and diesel at Rs 94.14. Chennai residents will now pay Rs 101.03 for petrol and Rs 91.43 for diesel, following the latest revision.

This price hike is the result of a combination of factors, including the rise in global crude oil prices and the depreciation of the Indian rupee against the US dollar. The ongoing geopolitical tensions and supply concerns have contributed to the upward trend in crude oil rates. As a result, oil marketing companies have been adjusting retail prices to account for these changes.

The frequent fuel price revisions have sparked debates among consumers and industry experts. While some argue that the government should intervene to stabilize prices, others believe it is a necessary reflection of the global market dynamics. As fuel prices continue to fluctuate, commuters and businesses alike are left to adapt to the changing costs, impacting travel and transportation budgets across the country. With the current trend, it remains to be seen how long this surge will last and what measures, if any, will be taken to provide relief to consumers.

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