Fuel prices in India increased on Friday, with premium petrol and industrial diesel becoming more expensive due to ongoing conflicts in the Middle East. Report UNB/AP
According to oil marketing companies, the price of premium petrol went up by about 2.30 Indian rupees per liter, while industrial diesel saw a much bigger jump of around 22 rupees per liter. The new prices took effect immediately.
The rise in fuel costs is linked to instability in the Middle East, which has been affecting global oil markets and supply.
Higher industrial diesel prices are expected to impact key sectors such as manufacturing, transport and power generation. This could lead to higher production and delivery costs, and eventually push up the prices of everyday goods, local media reported.
However, the government downplayed the increase in premium petrol prices, saying it would have limited impact as only a small portion — around 2 to 4 percent — of consumers use this type of fuel.
