Fuel price check: Latest petrol, diesel rates in India & South Asia amid Iran war-Know who pays more?
The ongoing Iran war has disrupted global oil supplies and pushed energy costs higher, making a sharp difference in petrol prices across South Asian countries. Currently, India has managed to keep fuel prices unchanged, but Pakistan has increased, and Bangladesh is facing supply disruptions.
Petrol prices in India
Despite an increase in global oil prices, officials have suggested that retail petrol and diesel rates in India are unlikely to be raised for now. According to a report by the TOI, Brent crude climbed to nearly $120 per barrel earlier this week before retreating to below $90. Currently, petrol prices in India range from Rs 94.77 per litre in Delhi to over Rs 105 in certain metro cities. Petrol price in Mumbai is costing Rs 103.50 per litre, Rs 105.45 in Kolkata and Rs 101.23 in Chennai. Surprisingly, diesel is cheaper, which is costing Rs 87.67 per litre in Delhi and Rs 92.39 in Chennai.
Steep fuel price increase in Pakistan
In Pakistan, fuel prices have risen sharply after the government announced a major hike in petrol and diesel rates in response to higher global oil prices. Petrol prices were increased by 55 Pakistani rupees to 321.17 rupees per litre, while high-speed diesel rose to 335.86 rupees per litre, according to Reuters.
Bangladesh is dealing with shortages of fuel supply
Meanwhile, Bangladesh, which imports about 95 per cent of its energy needs, is facing supply disruptions after the conflict affected oil shipments from the Middle East. Petrol currently sells for around 116 Bangladeshi taka per litre, while diesel costs about 100 taka per litre, with prices mostly unchanged since February. However, authorities have introduced fuel rationing measures and limits on diesel sales to manage available supplies.
Iran war pushes energy markets into uncertainty
The shortage of fuel and surge in its price followed after the conflict between the United States, Israel and Iran, which disrupted shipping routes and exports of oil from the Gulf region. Iran has also warned of blocking shipments from the region, raising concern about the oil passing through the Strait of Hormuz, the route that covers the oil flows of around 20 per cent of the world.
No sign of ending war
The US-Israel joint strikes on Iran started exactly 12 days ago, but currently, there is no sign of it ending as fast as last time, which was halted after American B-2 bombers targeted alleged Iranian nuclear sites. Neither is the Islamic Republic regime falling, nor is Iran waving the white flag, having declared a pause to all negotiations. Regime change and the capitulation of Iran were the supposed aims of the war.
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