US Sanctions on Russian Oil Spark Fuel Crisis in India: Petrol, Diesel Prices Set to Soar.

Stopping Oil Purchase from Russia: Major Petrol and Diesel Crisis in India, Direct Uproar, America Has...

The Iran-America war brings extremely bad news for India. There could be a massive hike in petrol and diesel prices in India. It is being observed that a single decision by America has caused complete chaos. What India feared has now come to pass.

US President Donald Trump took a decision that has shaken the world, which could lead to a major crisis. Global markets are in turmoil. Due to this one decision by Donald Trump, prices of petrol, diesel, and other fuels could rise significantly. While petrol and diesel prices were already increasing, a new crisis has now emerged. It is being said that this is an extremely major decision against India. Experts have expressed fear that rising crude oil prices could trigger massive inflation in India. 

Donald Trump refused to grant an exemption from sanctions on Russian oil. Sanctions were once again imposed on Russian oil. Due to this, India along with other countries will not be able to purchase oil from Russia. With the Strait of Hormuz closed, there is a major problem with crude oil supply. Amid this, Russia had come to India's aid. Russia was supplying India with as much oil as it needed.

Now, with sanctions reimposed on Russian oil, there has been a huge uproar in India. There is massive demand for oil in India. Oil supply from Russia to India was ongoing. However, now America has again imposed sanctions on Russian oil and has not granted an exemption. This has increased India's tension, raising the serious question of where and how to source oil from.