Fuel Prices in India Below Global Levels, May Rise Soon | India Today

Added: 2026-05-25

[00:00:00]We are currently paying one of the lowest prices for petrol and diesel in the world. So, prices in the US are 30% higher petrol, diesel [music] each.

[00:00:11]Prices in UK, Europe, etc. are up to double what Indian consumers are paying because their taxes are also much higher. So, if you think of the US as the best [music] comparison, they're about 30% higher, which is somewhere between 20 to 30 rupees more.

[00:00:26]>> Rahul, won't we catch up there? About 20 rupees more is what we need to catch up.

[00:00:30]It's understood now that our delayed price hike has happened only because of elections. Now that elections are over, it will catch up, right? So, that argument doesn't hold.

[00:00:40]No, no. I mean, it will catch up and it's likely that it should catch up. I think uh we have to reflect what the facts on the ground are, >> [music] >> right? The facts on the ground are that oil has become more expensive, that oil has become more scarce in the world.

[00:00:55]Because if we leave prices low, what happens is we run into shortages. You haven't found shortages in cities, but I'm hearing people say that in the highways, lots of petrol pumps are just [music] not selling petrol or diesel because oil companies are under recovering. So, for every liter of petrol they sell, they make [music] losses, right? So, the more they sell, the more losses they make. They'll just stop selling. So, there are many, many places where you can't get petrol, can't get diesel because the prices are so low. And to be able to have supply, even with higher prices, >> [music] >> is much better than to not have supply at all.