Petrol, diesel price hiked by 90 paisa

STC NEWS MONITORING DESK
SRINAGAR, MAY 19 (STC): Petrol and diesel prices have once again been increased by approximately 90 paise per litre across India in a span of five days. The hike is triggering a severe impact on the common man and middle-class families who have been struggling with rising inflation. In reaction to the hike, various news agencies have reported unrest brewing up in people across the country who have expressed their disappointment over the price hike on petrol and diesel today.
Notably, these hikes come amid a call for fuel conservation as the world faces an energy crisis amid the West Asia conflict, which led to a blockade in the significant maritime trade route, the Strait of Hormuz.
The Brent oil prices have been at a record high in the wake of the US-Israel and Iran war, which began on February 28 this year. The Brent oil price has been hovering over USD 100 per barrel as the US and Iran are attempting to mediate for a long-term ceasefire in the region.
The widening of the ambit of the war engulfed the West Asian countries, which are major suppliers of fuel. However, India has maintained that there is no shortage of fuel and has adequate energy supplies.

(Straight Talk Communications I Inputs from ANI)