Swiggy Increases Platform Fee Amid Crude Oil Price Surge

Swiggy, a leading food delivery platform, has raised its platform fee to ₹17.58 per order, effective immediately. This increase, announced on Tuesday, follows a similar hike by rival Zomato in recent days.

Platform Fee Hike: A Response to Rising Delivery Costs

The platform fee hike by Swiggy and Zomato comes amid climbing crude oil prices driven by the ongoing Middle East conflict. The price of a barrel of Brent crude rose 3.5% to $103.42, as disruptions to oil, gas, and maritime trade routes threaten global economic stability.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Platform Fee Breakdown

The new platform fee of ₹17.58 per order includes GST, while Zomato charges ₹14.90 on a pre-GST basis. With this increase, the platform fees charged by both Swiggy and Zomato are now effectively aligned at around ₹17.58 per order.

Government Response to Energy Crisis

In response to the global energy crisis triggered by the war, Prime Minister Narendra Modi on Tuesday urged citizens to stay prepared for any eventuality. He also cautioned against individuals exploiting the situation and directed state governments to curb black marketing and hoarding.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Key Dates

• 20 March: Zomato raised its platform fee by ₹2.40, bringing it to ₹14.90 per order before GST.
• 28 February: Joint US-Israeli strikes on Iran resulted in the death of 86-year-old Supreme Leader Ayatollah Ali Khamenei.
• September: Swiggy last raised its platform fee.