New Delhi, June 3 -- Fuel prices were steady on Wednesday, 3 June, following the last price hikes on Monday, 25 May, when oil marketing companies (OMCs) increased the cost of both petrol and diesel by more than Rs.2.50 per litre. Notably, the cumulative price hikes since 15 May have increased fuel costs of close to Rs.7.5 per litre.

Fuel prices in India are at their highest levels since May 2022 after remaining largely frozen for more than two years, barring a Rs.2-per-litre cut in March 2024.

This is because the last increase was the fourth such move in less than two weeks, on the back of a delayed pass-through amid soaring global crude oil prices due to the war in West Asia.

The war in West Asia disrupted global energy supplies, incl...