Middle East conflict oil impact

New Delhi (Gurpreet Singh): India’s largest private fuel retailer, Nayara Energy, on Thursday increased petrol prices by ₹5 per litre and diesel by ₹3 per litre, partly passing on the impact of rising global crude oil prices triggered by the ongoing Middle East conflict. The price hike comes after nearly a month of stable retail fuel prices in India, despite a sharp rise of almost 50% in international oil rates following military tensions involving Iran, the United States, and Israel. Pressure on Fuel Companies Nayara, which operates nearly 7,000 fuel stations across the country and is largely controlled by Rosneft,…