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The bad tidings hit the millions of Indians hard as the oil marketing companies announced steep increases in petrol and diesel prices of Rs 3 per liter. This increase has come into effect from the moment it took effect, pushing petrol price moves into scooting territory at nearly the ₹100 mark in many cities, including Delhi.

The sharp increase can be traced to an appetite for a higher price of crude oil internationally and higher excise duties. Commuters, cab drivers, and logistics firms are expected to suffer the highest heat effects, and chances are that transportation prices may rise significantly over the next few days.

Industry sources say it will put a strain on household budgets. The freight price increases could add to what middle-class households are already paying in inflation and could drive further rises in consumer expenses for necessary items. Owners of 2- or 4-wheelers are urged to fuel wisely and perhaps carpool in order to minimize impact.

Further relief and subsidy relief are yet to be announced by the government. This could provide the impetus for another round of food and staple commodity inflation, analysts say.

Petrol / diesel prices are yet to be updated by the city; check back for details. As petrol prices rise, wise spending and fuel efficiency are more critical than ever.