The impact of the Iran war is now visible on India as well. After LPG, the price of petrol has also increased in the country. State-owned oil firms have hiked the price of premium petrol by up to Rs 2.35 per litre. This hike has come into effect from today. BPCL has increased the price of speed, HPCL power and IOCL has increased XP95 from Rs 2.09 to Rs 2.35 per liter. However, there has been no change in the price of regular petrol at present.

Meanwhile, Indian Oil Corporation (IOC) has increased the price of industrial diesel by Rs 22. It has been increased from ₹ 87.67 per liter to ₹ 109.59 per liter. It is believed that this increase may affect the industrial sector, logistics and transport costs. This is expected to increase inflation.

Iran and the US/Israel have targeted each other's energy infrastructure. This has led to a rise in the price of crude oil. On Thursday, crude oil reached $ 116 a barrel at one time. However, it later softened somewhat. Brent crude is trading 1.19 percent higher at $ 109.9 a barrel today. The Iran war has affected the movement of ships through the Gulf of Hormuz. Due to this, crude oil has become expensive. 20 percent of the world's oil and gas comes through this route.

The Gulf of Hormuz is very important for India because most of the country's crude and gas supplies come through this route. However, in view of the problem there, India is now buying oil and gas from other sources. According to the Petroleum Ministry, 70 percent of India's crude oil is now coming through other routes. Similarly, gas is also being purchased from other sources.