The conflict between Israel and Palestine could have a massive impact on crude oil rates, which could lead to an increase in the petrol, diesel prices in India. Finance Minister Nirmala Sitharama said on Friday that the concerns regarding a spike in petrol and diesel prices are back in India in the midst of the Israel-Hamas war. The FM said that there are uncertainties in the global petrol market, and hinted at the prices going up soon. Crude oil prices are already on the rise and experts are warning traders against investing in Indian Oil and ONGC shares in the coming days due to an expected exponential rise in petrol prices. It is expected that the prices will rise by 10 percent if the Israel conflict doesn’t get resolved.

Source: dna October 15, 2023 13:01 UTC