In a significant blow to consumers, oil marketing companies (OMCs) have announced a hike in the prices of petrol and diesel across the country. Starting this Friday, the retail price of both fuels has been increased by ₹2.35 per litre. The revision, effective from 6 AM today, reflects the mounting pressure of rising global crude oil prices, which have breached the $100-per-barrel mark due to escalating geopolitical tensions in the Middle East and supply chain disruptions.

The price hike is expected to have a cascading effect on the economy. Since diesel is the primary fuel for commercial transportation, a spike of over ₹2 per litre will inevitably lead to higher logistics costs, potentially pushing up the prices of essential commodities, including food and FMCG products. In major cities like Kolkata, Mumbai, and Delhi, the new rates are likely to strain the monthly budgets of middle-class families already struggling with high inflation.

Economists warn that if global volatility persists, further adjustments in fuel rates might be necessary in the coming weeks. While the government has so far attempted to cushion retail consumers from sudden shocks, the current surge in international energy costs has left OMCs with little choice but to pass on the burden. This development comes at a critical political juncture as West Bengal prepares for the 2026 Assembly elections, making fuel pricing a sensitive issue for both the ruling and opposition parties. For now, the public must brace for more expensive commutes and a likely rise in overall living costs.