US strikes on Iran raise fears of higher fuel prices in India

tamil.news18.com (Tamil) —

US strikes on Iran's Qeshm Island near the Strait of Hormuz have raised fears of rising crude oil prices, potentially impacting fuel costs in India and other South Asian nations. The US military conducted the attack as a defensive measure, confirmed by Iran's IRNA news agency. President Trump expressed optimism for a quick deal with Iran, noting crude prices fell up to $10 per barrel on hopes of avoiding war. India imports most of its crude oil, and any disruption in the Strait of Hormuz could increase import costs and pressure fuel prices. While supplies remain secure and no price changes have been made, economists warn sustaining current rates may become difficult if crude prices keep climbing.


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