Petrol and diesel prices have reached near the Rs 100 mark in Delhi following a Rs 3 per litre increase on Friday, as reported by news agency PTI. This hike is attributed to rising global crude oil prices, exacerbated by the ongoing conflict in West Asia.

With this adjustment, petrol prices in Delhi have risen from Rs 94.77 to Rs 97.77 per litre, while diesel prices have gone up from Rs 87.67 to Rs 90.67 per litre.

Prior to the official announcement, rumors of a significant fuel price hike led to panic buying at petrol stations across various regions of the country. Long queues and ‘No Fuel’ signs were reported at multiple outlets as consumers hurried to refuel, fearing even larger increases in the near future.

The anxiety over potential fuel price shocks has grown due to soaring crude oil prices, the strain on government finances, and India’s increasing import costs amid the deteriorating situation in West Asia. India had previously managed to avoid substantial hikes in retail fuel prices, likely due to the recent completion of assembly elections in five states.

A nationwide report by India Today, which covered 15 petrol stations across Delhi-NCR, Uttar Pradesh, Gujarat, Odisha, and Bihar, revealed an unusually high influx of customers and panic buying. Many consumers chose to fill their tanks completely, speculating that petrol and diesel prices could rise by Rs 5 to Rs 20 per litre starting May 15.