Impact of Iran-Israel war: In which countries have petrol and diesel prices increased?: The Middle East conflict between Israel and Iran has been escalating for nearly ten days. Its impact on the global energy market is becoming evident. International crude oil prices have risen sharply, surpassing $100 per barrel for the first time since 2022. Uncertainty over supply through the Strait of Hormuz due to the conflict has further exacerbated the oil market's turmoil.
Following this surge in crude oil prices, the biggest question now is whether it will impact the common man's pocket. Concerns have risen, particularly regarding the prices of petrol and diesel.
Petrol and Diesel Prices in India -
India relies heavily on imports for its energy needs. The closure of the Strait of Hormuz has led to a 20% drop in global supply, as 20% of oil travels through this route. Petrol and diesel prices in India have remained unchanged so far. However, LPG prices did increase last week.
Experts familiar with the situation say that India is exploring alternative options in this situation. Refining companies have also been asked to increase supplies to the country to avoid future oil shortages. However, if the war continues for a long time, a rise in petrol and diesel prices cannot be ruled out.
Petrol and Diesel Prices in Pakistan -
The surge in global crude oil prices is now directly impacting petrol and diesel prices in Pakistan. The situation can be gauged from the fact that the price of petrol has risen to approximately 336 Pakistani rupees per liter.
While the price of high-speed diesel has reached approximately 321 Pakistani rupees per liter. Rising costs and dependence on imports indicate that fuel shortages may occur in Pakistan in the near future.
There are reports of severe petrol and diesel shortages in many parts of Pakistan. The situation has become so dire that as soon as news of a petrol pump opening is received, long queues of vehicles form as early as midnight. Many petrol pumps are closed due to the shortage, while those that are open are experiencing long waits for refills.
Petrol and Diesel Prices in Bangladesh?
The impact of rising global tensions and the surge in crude oil prices is being felt in Bangladesh as well. To manage the situation, the Bangladeshi government has implemented a rationing system for the sale of petrol and diesel. This means that people are now provided with a fixed amount of fuel to maintain a balance between supply and demand.
