Petrol, diesel prices rise again as West Asia conflict triggers third fuel hike in 10 days
India witnessed its third fuel price hike in less than 10 days, with petrol prices nearing Rs 100 in Delhi amid continuing turmoil in global oil markets.
India witnessed its third fuel price hike in less than 10 days, with petrol prices nearing Rs 100 in Delhi amid continuing turmoil in global oil markets.
Oil companies raised petrol, diesel and CNG prices as mounting crude oil costs and the West Asia conflict intensified pressure on India’s fuel retailers.
The Indian stock market witnessed a sharp selloff on Monday amid weakening investor sentiment.
Gold and silver prices traded higher on Thursday, with prices rising by up to 1 per cent amid a rise in crude oil prices and uncertainty surrounding the US-Iran peace deal.
Global crude oil prices declined almost 3 per cent on Monday after US President Donald Trump said Washington would take steps to help clear vessels stranded in the Strait of Hormuz, though the lack of a breakthrough in US-Iran talks kept prices above the $100-mark.
States have been advised to take strict action against hoarding of essential commodities and ensure an uninterrupted availability of supplies.
India is in touch with other suppliers, asserting that there is no shortage of LPG, LNG, and crude oil in the world, the government sources added.
On a cumulative basis, the core sector expanded by 2.6 per cent during April to December 2025-26 compared with the corresponding period of the previous year, reflecting moderate overall growth amid mixed sectoral trends.
In a credit alert, the rating agency noted that even if the situation in Venezuela escalates and disrupts crude oil production, the impact on global oil prices is expected to be muted, as Venezuela accounts for only about 1.5 per cent of global crude oil supply.
“Looking ahead, he said the maritime sector is expected to attract about Rs 8 trillion in investment and create around 1.5 crore jobs by 2047,” the minister said.
