Fresh fuel price hikes pushed petrol beyond Rs 102 in Delhi, with commuters and taxi drivers warning of rising transport costs and pressure on household budgets.
Fuel prices climbed again across major Indian cities as rising global crude oil rates and the ongoing West Asia conflict continued to pressure domestic markets.
The decision was announced by US Treasury Secretary Scott Bessent, who said the move will help stabilise crude prices which have skyrocketed due to the disruptions in the Strait of Hormuz, a key shipping route in the Persian Gulf.
According to the forex experts, high crude oil prices, and a stronger US dollar have created a volatile situation of the domestic currency amid the ongoing geopolitical tensions.
Dalal Street witnessed heavy selling pressure in early trade as rising crude oil prices, weak Asian markets and geopolitical worries dragged benchmark indices sharply lower.
India’s biofuel expansion is drawing global attention as rising ethanol blending helps shield the country from crude supply disruptions and strengthens energy security amid Middle East tensions.
Government revises fuel duties for second time in a month as global crude spikes, while oil companies hold retail petrol, diesel and LPG prices steady across India.
Oil prices surged sharply after fresh Iran-US tensions, triggering volatility in global markets and weighing on Indian equities despite positive global cues and steady institutional flows.
Dalal Street slipped into sharp losses as geopolitical tensions escalated, pushing oil prices higher and triggering fears around inflation, currency pressure and India’s rising import burden.
Speaking to reporters in the Parliament complex, the Congress leader said the war in the region was already affecting India’s economic stability and putting pressure on household finances. “The war underway in West Asia is causing serious damage to our economy, but our compromised Prime Minister does not have the courage to discuss it,” he said.
