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Petrol and diesel prices increased for the third time in ten days amid global energy strain

Retail fuel prices across Indian metros jumped on Saturday as petrol rose by 87 paise and diesel by 91 paise in Delhi, accumulating a total increase of nearly five rupees per litre since May 15.

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Fuel Rate

Consumers across the country will face higher transport costs as domestic fuel prices were increased again on Saturday, marking the third revision within a ten-day window. State-owned oil companies have implemented a calibrated upward revision to pass on the rising costs of global energy, which have remained elevated due to the ongoing conflict in the Middle East.

With the latest adjustment, petrol prices went up by 87 paise per litre, while diesel rates rose by 91 paise per litre in the national capital. This series of revisions began on May 15, accumulatively raising the retail fuel prices by nearly Rs 5 per litre over the last ten days.

Revised fuel rates across major metropolitan cities

Following Saturday’s market adjustment, the retail selling prices for fuel have shifted across major consumer hubs. In Delhi, petrol now retails at Rs 99.51 per litre, while diesel stands at Rs 92.49 per litre.

Other major metropolitan cities saw parallel increases based on local taxation and transport variables:

  • Kolkata: Petrol jumped by 94 paise to retail at Rs 110.64 per litre, while diesel increased by 95 paise to hit Rs 97.02 per litre.
  • Mumbai: Retail petrol increased by 90 paise to reach Rs 108.49 per litre, and diesel climbed by 94 paise to sell at Rs 95.02 per litre.
  • Chennai: Petrol prices rose by 82 paise to Rs 105.31 per litre, whereas diesel increased by 87 paise to cost Rs 96.98 per litre.

Additionally, the price of Compressed Natural Gas (CNG) was increased by Rs 1 per kilogram in Delhi, taking its retail cost to Rs 81.09 per kilogram in the National Capital Region.

Gradual pass-through of global market pressures

The continuous upward adjustment follows a multi-week period of escalating crude prices. Before the latest weekend adjustment, fuel rates had already been raised by Rs 3 per litre on May 15, which was quickly followed by a 90 paise per litre hike on May 19.

Media sources close to government channels stated that the domestic oil market had previously received significant cushioning during high crude price cycles. During the height of the Hormuz supply crisis, the central administration indirectly absorbed price differences reaching up to Rs 24 per litre on petrol and Rs 30 per litre on diesel to shield consumers.

Financial data indicates that public sector oil marketing companies faced severe economic pressure during past stabilizing measures. Between 2021 and 2024, oil firms recorded collective losses of approximately Rs 24,500 crore. Furthermore, an economic burden of nearly Rs 40,000 crore was absorbed during the 2024-25 fiscal year specifically to keep liquefied petroleum gas (LPG) rates steady for retail consumers. The current staggered price hikes reflect a balancing act between protecting public fiscal healthcare and managing macro-level inflationary pressures.

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PM Modi welcomes US-Iran peace deal

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Prime Minister Narendra Modi expressed support for the peace agreement between the United States and Iran, anticipating that it would “restore peace” and “ensure freedom of navigation” in the region. The agreement aims to conclude their ongoing conflict and facilitate the reopening of the Strait of Hormuz, with a signing scheduled in Switzerland on June 19.

Though still in the framework phase, this initiative marks significant progress in a conflict that has resulted in thousands of casualties and disrupted global energy markets after the US-Israeli strikes on Iran in February.

The reopening of the Strait is expected to alleviate concerns in Asia, which previously depended on 90% of its oil supplies routed through this crucial passage.

In a statement on X, Modi highlighted the deal’s importance in addressing the economic chaos and loss of life caused by the conflict in West Asia. He expressed hope for the agreement’s implementation to bolster regional stability and facilitate commerce.

The United States and Iran reached this initial agreement on Monday, which includes extending a fragile ceasefire. Mediator Pakistan announced the deal, stating that both sides agreed to stop military operations and that meetings would occur to set the stage for technical talks.

US President Donald Trump confirmed the agreement and announced the cessation of the US naval blockade on Iranian ports, encouraging a resumption of oil transport.

The parties involved are still determining representation for the signing event. Iran’s deputy foreign minister confirmed the agreement but stated that implementation would begin only after the formal signing. The talks involved mediators from Qatar, contributing to the breakthrough. After the announcement of the deal, Israel’s national security minister went on record that Jerusalem will not hold back on its attacks on Lebanon. That would leave this agreement which took weeks in the works a hostage to Israeli intentions.

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Lt Gen Dhiraj Seth appointed next Army chief, to take charge on June 30

The government has appointed Lt Gen Dhiraj Seth, currently the Vice Chief of Army Staff, as the next Army chief. He will succeed General Upendra Dwivedi on June 30.

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The Centre has appointed Lieutenant General Dhiraj Seth as the next Chief of the Army Staff (COAS), paving the way for a leadership transition in the Indian Army later this month. Lt Gen Seth, who currently serves as the Vice Chief of the Army Staff, will succeed General Upendra Dwivedi upon the latter’s retirement on June 30, 2026.

The appointment was announced on Saturday, with the government confirming that Lt Gen Seth will assume office from the afternoon of June 30. He will take over command after General Dwivedi completes his tenure as the Army’s 30th chief.

Veteran Armoured Corps officer

An officer of the Armoured Corps, Lt Gen Seth was commissioned into the Indian Army in December 1986 after graduating from the National Defence Academy. Over nearly four decades of service, he has held a range of operational, command, staff and strategic appointments across the Army.

Before becoming Vice Chief on April 1, 2026, he served in several senior leadership roles, including heading the Southern Command and South Western Command. He has also commanded formations such as the Delhi Area and the XXI Corps during his military career.

Leadership transition in the Army

Lt Gen Seth’s elevation comes as the Army prepares for a change of command at the highest level. His appointment follows his move to Army Headquarters as Vice Chief earlier this year, a role he assumed on April 1.

The Ministry of Defence said the incoming Army chief brings extensive experience from command, operational and strategic assignments across diverse military domains.

With the appointment, Lt Gen Seth is set to lead the Indian Army through the next phase of its modernisation and operational preparedness efforts after taking charge at the end of the month.

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IAF AN-32 aircraft crashes while landing at Assam’s Jorhat airbase, five personnel killed

Five Indian Air Force personnel were killed after an AN-32 transport aircraft crashed while landing at Jorhat Air Force Station in Assam. The IAF has ordered a court of inquiry into the accident.

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An Indian Air Force (IAF) AN-32 transport aircraft crashed while attempting to land at Jorhat Air Force Station in Assam on Saturday, resulting in the deaths of five Air Force personnel. The accident occurred during a routine sortie and triggered an emergency response at the airbase.

According to the IAF, the aircraft met with the accident during the landing phase at Jorhat. The force later confirmed the loss of five personnel and expressed condolences to their families. A court of inquiry has been ordered to determine the circumstances that led to the crash.

Court of inquiry ordered

The Indian Air Force said a formal investigation will examine the cause of the accident. Officials have not yet disclosed what may have led to the crash, and the inquiry is expected to review technical, operational and environmental factors.

Reports indicated that the co-pilot survived the accident and is undergoing medical treatment.

Personnel who lost their lives

The IAF identified the five personnel killed in the accident as:

  • Squadron Leader Prashant Singh
  • Flight Lieutenant Shubham Kumar
  • Sergeant Jitendra Sharma
  • Agniveervayu Khemaram Kumawat
  • Agniveervayu Danish Alam

The Air Force said it stands with the bereaved families during this difficult time.

AN-32’s role in the Air Force

The AN-32 is a twin-engine transport aircraft that has been a key part of the Indian Air Force’s logistics operations for decades. It is widely used to transport personnel, equipment and supplies, particularly in remote and high-altitude regions. India remains one of the largest operators of the aircraft type.

The crash comes months after a Sukhoi Su-30MKI fighter aircraft accident in Assam that claimed the lives of two IAF pilots.

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