North India Statesman
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News India Live, Digital Desk: Diesel Price Hike: Petrol and diesel prices in India may soon rise by Rs 8 to 10 per liter, and behind it is a warning to Russia by former US President Donald Trump. Trump has openly threatened Russia to end the Ukraine war or suffer consequences. This threat is expected to have a direct impact on the global oil market, as if the US really imposes strict ban on Russia’s oil and gas exports, crude oil prices will start touching the international markets. India imports a large part of its oil needs. In such a situation, when the prices of global crude oil will increase, it will also directly affect the prices of petrol and diesel in the domestic market of India. The Russian-Ukraine War is already running, due to which the supply of crude oil in the international market has been affected and prices remain unstable. In such a situation, this statement of Donald Trump, if he returns to the presidency and implements it, can definitely make the situation more serious. The threats of restrictions on oil and gas exports between the Ukraine War and its geopolitical tensions have been continuously threatened. But when big political faces like Trump give such warnings, their effect is immediately seen on global commodity markets. Experts believe that if the supply of oil from Russia is massively interrupted, then the direct result will come out as increased fuel costs for countries like India, which can increase the challenge of inflation for the common citizen. In such a way it will be important to see whether American threats become a reality and Indian consumers have to bear the burden of increased fuel, which can also affect the economy of the country.
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