Sanjay Malhotra has warned that an increase in petrol and diesel prices may be difficult to avoid due to continuing tensions in the Middle East and uncertainty in global crude oil markets.
Speaking on the impact of international developments on the Indian economy, Malhotra said rising global crude oil prices could directly affect domestic fuel costs in the coming days. His remarks come at a time when international oil markets are witnessing fluctuations due to geopolitical tensions in the Middle East.
Reports indicate that oil companies are considering increasing petrol and diesel prices by up to ₹5 before May 15 if global crude oil prices continue to remain unstable. However, no official announcement regarding a fuel price revision has been made so far.
Economic analysts stated that any increase in fuel prices could influence transportation costs and other sectors linked to fuel consumption. Officials are closely monitoring international market conditions and their possible impact on the domestic economy.
The warning has drawn public attention as fuel prices remain closely connected to household expenses and business operations across the country. Authorities are expected to review the situation further based on global oil market developments.
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