Patna: Petrol and diesel prices have been increased once again across Bihar amid continued volatility in international crude oil markets triggered by the ongoing conflict between the United States and Iran. The latest hike has added further pressure on household budgets, transport operators and farmers already grappling with rising inflation.
Oil companies have increased petrol prices by Rs 2.61 per litre and diesel prices by Rs 2.71 per litre.
Following the revision, petrol in Patna is now being sold at Rs 112.70 per litre, while diesel has reached Rs 99.87 per litre. In Nalanda, petrol prices have climbed to Rs 113.99 per litre and diesel to Rs 99.98 per litre.
This marks the fourth fuel price hike in the last 12 days. Earlier, on May 23, petrol prices were increased by 87 paise per litre and diesel by 91 paise per litre.
The surge in fuel prices is expected to trigger a broader rise in the cost of essential goods and services. Transporters said freight charges for trucks and commercial vehicles are likely to increase, which could make vegetables, fruits and grocery items imported from other states more expensive.
Farmers are also expected to feel the impact as the cost of operating tractors and irrigation pumps rises with higher diesel prices, potentially pushing up agricultural production costs. Public transport fares, including buses, auto-rickshaws and school transport, may also witness an increase in the coming days.
Industry experts attributed the latest hike to rising crude oil prices in the international market. Before the escalation of tensions between the US and Iran, crude oil prices were hovering around 70 dollars per barrel. They have now reportedly crossed the 100-dollar mark, putting pressure on oil marketing companies.
Officials said oil companies were facing losses due to the steep rise in crude prices and revised fuel rates to offset the burden. Analysts warned that if global crude oil prices continue to rise, petrol and diesel prices in India may see further increases.
Adding to the inflation concerns, dairy cooperative COMFED has also increased the prices of Sudha milk and other dairy products from Monday. According to the cooperative, milk procurement prices have risen by Rs 2 to Rs 3.13 per litre, leading to higher retail prices.
The revised prices will directly impact households that depend on milk for daily consumption. Prices of Sudha products such as paneer, peda, butter, gulab jamun and rasgulla have also been increased.
In Begusarai, fuel prices have nearly touched the Rs 100-per-litre mark for diesel. Petrol prices in the district rose from Rs 110.26 to Rs 113.09 per litre, while diesel prices increased from Rs 96.27 to Rs 99.10 per litre.
Several consumers expressed concern over the repeated hikes. Local residents said rising diesel prices were contributing more significantly to inflation as they directly affect transportation and goods movement across sectors.
