Diesel prices hiked amid US-Israel-Iran war; What will be its impact on Indian consumers?
New Delhi: Following a hike in premium petrol prices, industrial diesel has now also become more expensive. Indian Oil Corporation (IOC) has implemented a major revision in industrial diesel rates, raising the price from Rs 87.67 per liter to Rs 109.59 per liter. This decision is expected to impact costs across the industrial sector, logistics, and transportation.Industrial diesel is purchased directlyIndustrial diesel is not sold at standard petrol pumps; instead, it is purchased directly by factories, large-scale generator operators, mining companies, construction sites, and power plants. Prior to this, oil companies had already increased the prices of branded and high-octane premium petrol variants by approximately Rs 2 per liter. However, the prices of regular petrol remain unchanged for the time being, offering immediate relief to common consumers.Fuel price hike likely to increase inflationAccording to economic analysts, if this trend in fuel costs persists, its impact could gradually become visible in inflation rates and across supply chains. Currently, market attention remains focused on international oil prices and the future decisions of oil companies. Energy market experts suggest that this price hike signals volatility in the global crude oil market and growing concerns regarding supply. The ongoing conflict in the Middle East has exerted pressure on global energy supply chains, leading to increased operational costs for oil companies. Consequently, prices have been recalibrated for specific fuel categories.
Source link
Leave a Reply