Ranbir Kapoor

The recent increase in petrol and diesel prices by ₹3 per litre was due to higher crude oil prices and losses faced by state-run oil companies. CNG prices also rose by ₹2 per kg. Economists predict a 12-20 basis point impact on retail inflation. Despite the hike, state-run fuel retailers continue to suffer losses of ₹1,000 crore daily.