Petrol and diesel prices jump Rs 3 as experts warn of staggered hikes until crude stays above 100

This Rs 3 hike may only cover part of losses

India raised petrol and diesel prices by Rs 3 per litre as state-run oil marketing companies absorb losses from global crude surging amid the West Asia conflict. Petrol and diesel had been unchanged for four years, but economists say the move could be the start of staggered increases. Further modest hikes may follow if crude stays above $100 per barrel and the Middle East situation persists, with analysts citing the duration of the US-Iran conflict and Strait of Hormuz for direction.