Petrol and diesel prices witnessed a fresh hike on Friday after oil marketing companies increased fuel rates by Rs 3 per litre.

The revision comes amid rising global energy prices, prompting companies to pass a part of the burden on to consumers.

According to reports, the increase has been implemented with immediate effect and is expected to impact transportation costs as well as the prices of essential commodities.

The hike has sparked concern among commuters and traders, especially at a time when inflationary pressure continues to affect household budgets.