Middle East Conflict Impacts Energy Supply, India Sees Third Consecutive Fuel Price Hike

The conflict in the Middle East is impacting global energy supplies, severely affecting India, which relies on imports for over 80% of its crude oil. Fuel prices in India have risen for the third consecutive time, with gasoline in Delhi reaching 99.51 rupees per liter and diesel at 92.49 rupees. The ongoing conflict involving the US, Israel, and Iran, along with the blockade of the Strait of Hormuz, has kept global oil prices high. Analysts warn that rising fuel costs will increase logistics expenses and push up the prices of essential goods.