The tension in the Middle East is severely affecting India, as petrol and diesel prices have been increased for the third time in a single month. This time, the prices have gone up by less than ₹1. In Delhi, petrol prices increased by around ₹0.87 per litre, while diesel prices rose by around ₹0.91 per litre. The state-run fuel retailers raised prices on Saturday.
The growing tension and conflict in the Middle East, which has caused crude oil prices to increase across global markets, is now affecting the daily budget of common people in India.
Earlier, petrol and diesel prices were increased by around 90 paise, marking the second hike of this month, whereas the Centre had increased petrol prices by ₹3 per litre due to the Strait of Hormuz conflict, marking the first hike.
India imports most of its oil from other countries. When oil-producing countries face war or political instability, the global supply of oil can become uncertain. Because of this, oil companies increase fuel prices, and Indian consumers have to pay more for petrol and diesel.
Many families are worried that if fuel prices continue to rise, overall living expenses will increase further. Experts say that as long as the Iran war situation continues, global crude oil prices may remain high, which could keep fuel prices under pressure in India.
Also Read: Fuel Shock: Petrol,Diesel Prices Surge Second Time in A Week In India https://www.vibesofindia.com/fuel-shock-petroldiesel-prices-surge-second-time-in-a-week-in-india/
