'Petrol, Diesel Prices To Be Reviewed Every 15 Days': Govt Amid Middle East War
The government has announced that petrol and diesel prices will be reviewed every 15 days amidst the ongoing war in the Middle East.
- Republic Business
- 1 min read
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New Delhi: The government has announced that petrol and diesel prices will be reviewed every 15 days amidst the ongoing war in the Middle East. This comes after the Centre announced excise cuts on fuels by Rs 10 per litre.
The action arrives amid a worsening global energy crisis sparked by the ongoing conflict between the US and Israel versus Iran, global crude prices surged past the $100 per barrel mark, largely driven by supply concerns amid the ongoing US-Iran conflict. The government’s intervention aims to shield domestic fuel retailers from mounting under-recoveries rather than passing on the benefit directly to consumers.