New Delhi: Peace talks between Iran and the United States in Pakistan failed. Following this, the US President ordered a tampon of the Strait of Hormuz and Iran moreover responded with a threatening tone. If this tension escalates, it will have a significant impact on countries like India. Now the question arises whether the price of LPG, petrol, and diesel increase in future?
Is the pressure increasing on the government?
India imports transplanted oil and gas from other countries. Of that, LPG is primarily imported from Gulf countries. Since the war began, India has been worldly-wise to bring some of its LPG tankers through the Strait of Hormuz. However, if the US tampon intensifies, India's difficulties will increase, putting pressure on the inside government.
Is the rate of commercial LPG cylinder increasing?
On April 1, the price of a 19 kg commercial LPG cylinder has been increased to Rs 2,078.50, marking a rise of Rs 195.50 in Delhi. The price of a small 5-kilogram LPG cylinder was moreover increased by Rs 51. It's worth noting that the price of domestic LPG cylinders was moreover increased on March 7, with a Rs 60 increase in Delhi. However, there was no remoter increase in LPG cylinder prices without that.
What well-nigh petrol and diesel?
Before the war began, transplanted oil prices had reached tropical to $70 per barrel. But now they are tropical to $100 per barrel. The increase in transplanted oil prices has increased pressure on oil marketing companies. Recently, the government provided relief by reducing the excise duty on petrol and diesel by Rs 10 each. Nayara and Shell India have once increased the prices of petrol and diesel.
US-Iran Second Round Talk?
Following the failure of the first round of talks, the second round of talks between the US and Iran is expected to take place on April 16. Reports indicate that both countries have well-set to hold talks. However, no clarity has yet emerged regarding the specifics of this meeting.
