Fuel Prices Set To Climb Gradually? Narendra Taneja On Oil Crisis

Energy expert Narendra Taneja has warned that petrol and diesel prices in India are likely to rise gradually as the West Asia conflict continues and the Strait of Hormuz remains disrupted. According to Taneja, the government may avoid a sudden shock increase but could raise fuel prices in phases - by 50 paisa to 90 paisa at a time - eventually taking the total hike to around ₹7-9 per litre. He also highlighted that if the war situation worsens, the government may need to announce additional support measures for vulnerable sections of society while also protecting oil marketing companies from mounting losses. The ongoing global energy crisis is now emerging as a major threat to inflation, fuel costs, and India’s economy.