The ongoing tensions involving United States, Iran and Israel are now having a visible impact on the finances of ordinary people in India.
Amid a continuous rise in crude oil prices in the international market, the Central Government on Tuesday increased petrol prices by 94 paise per litre and diesel prices by 91 paise per litre. This is the second fuel price hike within a few days, adding to concerns among the general public, vehicle owners and transport businesses.
Petrol price in Jaipur crosses ₹108 per litre
After the revised rates came into effect, petrol prices in Jaipur rose from ₹107.97 per litre to ₹108.91 per litre. Diesel prices increased from ₹93.23 to ₹94.14 per litre. The impact of rising fuel prices is now also being felt on daily household expenses.
Crude oil prices surge due to Middle East tensions
According to experts, instability in the Gulf region and the escalating conflict between Iran and Israel have disrupted crude oil supply chains, leading to a sharp rise in global oil prices. India imports a major portion of its crude oil requirements from abroad, which is why fluctuations in the international market directly affect domestic petrol and diesel prices.
The government has already appealed to citizens to reduce fuel consumption and make greater use of public transport. However, due to the abnormal international situation and the continuing surge in crude oil prices, increasing fuel rates is now becoming unavoidable.
Transport sector fears further inflation
Transport businessman Sushil Jain said that if tensions in the Middle East continue for a prolonged period, petrol and diesel prices may rise even further in the coming days.
He warned that the impact would not remain limited to vehicle owners alone. Higher transportation costs could also increase the prices of fruits, vegetables, food items, construction materials and online delivery services.
Household budgets completely disturbed
New fuel rates came into effect at petrol pumps across Jaipur from Tuesday morning. Crowds of motorists were seen at several petrol stations after the announcement. Residents said repeated increases in petrol and diesel prices, amid already rising inflation, are severely affecting household budgets.
Taxi fares and freight charges may rise
Transporters and taxi operators have also indicated that if diesel prices continue to rise at the current pace, fares and freight charges may have to be increased. At present, attention remains focused on developments in the international market and the Central Government’s next course of action.
