Petrol, Diesel Price LIVE Updates: Fuel rates hiked again by 90 paise/litre; second increase in under a week

On May 20, 2022, India experienced its second fuel price hike in under a week, with petrol and diesel rates increasing by up to 90 paise per litre across major cities like Delhi, Mumbai, Bengaluru, and Kolkata. This immediate surge pushed consumer costs higher, following a period of deferred price revisions by state-owned Oil Marketing Companies (OMCs) that had resumed daily adjustments earlier in the year. The move directly impacted millions of commuters and businesses, amplifying domestic economic pressures. This hike was a direct fallout of the tumultuous global energy markets, primarily driven by the ongoing Russia-Ukraine War, which had sent Crude Oil prices soaring worldwide. For India, a net oil importer, these international shocks translate rapidly into domestic Inflation, forcing the government to later implement an Excise Duty cut to mitigate consumer burden and manage the broader macroeconomic fallout. The episode underscored India acute vulnerability to global energy supply disruptions and commodity market volatility.