Fuel Prices Rise Amid Ongoing Conflict in West Asia
Petrol, Diesel Price Hike LIVE: Fuel Prices Surge Due To Supply Crisis Amid Iran War, Check Rates
News 18
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The Indian government has increased petrol and diesel prices due to disruptions in the global energy supply caused by the ongoing conflict in West Asia. Petrol prices have risen by ₹3.14 per litre, reaching ₹97.77, while diesel prices increased by ₹3.11 per litre, now costing ₹90.67.
- 01Petrol prices increased by ₹3.14 per litre, now at ₹97.77.
- 02Diesel prices surged by ₹3.11 per litre, reaching ₹90.67.
- 03CNG prices also rose by ₹2 per kilogram.
- 04The price hikes are attributed to supply disruptions linked to the conflict in West Asia.
- 05The blockade of the Strait of Hormuz is affecting global oil and gas supply.
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The Indian government announced a hike in fuel prices on Friday, with petrol increasing by ₹3.14 per litre to reach ₹97.77 and diesel rising by ₹3.11 per litre to ₹90.67. The price of CNG also saw a rise of ₹2 per kilogram. These increases are a direct result of ongoing disruptions in the global energy supply chain due to the conflict in West Asia, particularly the blockade of the Strait of Hormuz, a vital route for nearly one-fifth of the world's oil and gas supply. The situation has sent shockwaves through the global fuel economy, contributing to rising energy prices worldwide.
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The rise in fuel prices will likely increase transportation costs, affecting the prices of goods and services across various sectors. Consumers may see higher costs in daily commuting and goods.
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