South, Southeast Asia Face Fuel Price Surges

(MENAFN) Escalating crude oil costs fueled by the Middle East conflict have triggered fuel price increases throughout South and Southeast Asia, as India and Cambodia introduced higher petrol and diesel rates this week while worries over inflation continue to grow.

In India, petrol and diesel rates climbed once more on Tuesday. State-owned oil distribution firms raised prices by nearly 90 paisa per liter (around 1 US cent), according to The Indian Express.

This newest adjustment arrived only five days after authorities implemented a previous increase of 3 rupees per liter (3.6 cents). The move represents the first fuel price rise in over four years, pushing the total increase this month to almost 4 rupees per liter (4.8 cents).

In Delhi, petrol is now priced at 98.64 rupees per liter ($1.18), while diesel stands at 91.58 rupees ($1.10). Meanwhile, petrol prices have exceeded 107 rupees per liter ($1.28) in both Mumbai and Bengaluru.

Indian energy firms linked the latest rise to rapidly climbing global crude oil prices and expanding losses from local fuel sales, as escalating tensions surrounding the Strait of Hormuz heightened concerns about possible supply interruptions.

Officials informed broadcaster NDTV that state-owned fuel retailers Indian Oil, Bharat Petroleum, and Hindustan Petroleum had been enduring substantial financial losses by maintaining unchanged retail prices despite increasing import expenses.

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