Trump Effect: Petrol and Diesel Prices Going Up?

The repercussions of the Donald Trump administration in the United States are being held by other countries globally, and it is the turn of Indian economy now. It is established that the action Trump is taking against the middle east countries could result in a spike in petrol and diesel price in India.

Rising tensions in the Middle East are once again sending shockwaves through the global oil market, and the impact is likely to be felt soon by Indian consumers. Crude oil prices have moved up sharply following fresh concerns over a possible escalation between the United States and Iran. In international markets, Brent crude has climbed to around 70 dollars per barrel, while West Texas Intermediate has also seen a notable rise, crossing 64 dollars per barrel.

Market experts believe the rally is being driven by fears of supply disruption. Iran is a major oil producer, and any military action or stricter sanctions could reduce its output by nearly three million barrels per day.

There are also serious concerns about the safety of oil shipments through the Strait of Hormuz, a crucial route for global crude transport. Even a temporary disruption in this region can push prices higher due to panic buying and uncertainty. For India, which depends heavily on imported crude oil, these developments are worrying. Higher global prices usually translate into increased fuel costs domestically.

If the current trend continues, petrol and diesel prices may see an upward revision in the coming days. This could add pressure on household budgets and transportation costs, at a time when inflation remains a key concern. The situation will largely depend on how geopolitical events unfold in the near future.