Petrol Diesel Price Impact India: It has been almost ten days since the ongoing conflict between Israel and Iran in the Middle East. Also, its impact is clearly visible on the global energy market. Crude oil prices are increasing rapidly in the international market and have crossed $ 100 per barrel for the first time after the year 2022. The uncertainty regarding supply from the Strait of Hormuz due to the war has increased the volatility in the oil market.
After this rise in crude oil prices, the biggest question now is whether it will affect the pockets of common people also? Concern has increased especially regarding the prices of petrol and diesel.
How is the situation in India as well as in neighboring countries like Pakistan and Bangladesh? Because all these countries, like India, are largely dependent on the import of crude oil. Let us know about this topic in detail….
Price is located in India
India is largely dependent on imports for its energy needs. Due to the closure of the Strait of Hormuz, the entire global supply has declined by 20 percent. Because through this route 20 percent reaches different countries. There has been no change in the prices of petrol and diesel in India yet. However, LPG prices had definitely increased last week.
Experts who have understanding of the subject say that in such a situation, India is looking for other alternative ways. Apart from this, refining companies have also been asked to increase the supply in the country. So that there is no oil problem in the near future. Still, if the war drags on, the increase in prices of petrol and diesel cannot be ruled out.
Situation is bad in Pakistan
The effect of the rise in global crude oil prices is now directly visible on the prices of petrol and diesel in Pakistan. The situation can be gauged from the fact that the price of petrol there has increased to around 336 Pakistani rupees per liter.
Whereas the price of high speed diesel has become around 321 Pakistani rupees per liter. Due to rising costs and dependence on imports, there are indications of fuel shortage in Pakistan in the coming time.
There are reports of severe shortage of petrol and diesel in many parts of Pakistan. The situation has become such that as soon as the news of opening of petrol pump is received, long queues of vehicles start forming from midnight itself. Many petrol pumps are closed due to shortage of oil. Whereas in those which are open, one has to wait for hours to fill the fuel.
What is the situation in Bangladesh?
The effect of increasing global tension and rise in crude oil prices is also visible in Bangladesh. To handle the situation, the Bangladeshi government has implemented rationing system on the sale of petrol and diesel. This means that now people are being given fuel as per the prescribed limit, so that a balance can be created between supply and demand.
