Fuel prices could soar as US and allies launch strikes on Syria

Following strikes by the US, the UK and France on Syria, expect oil prices to boil. The impact will also be felt in India, where prices are already at a record high.

By Autocar Professional Bureau

14 Apr 2018

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Fuel prices could soar as US and allies launch strikes on Syria

Following an early morning BBC report that the military forces belonging to the US, the UK and France have bombed a number of government sites targeting alleged chemical weapon sites, it is expected that crude oil prices will soar, in turn impacting prices of fuels the world over, including India.

As of today, the price of a litre of petrol in Mumbai is Rs 81.79, Rs 76.64 in Kolkata, Rs 76.69 in Chennai and Rs 73.93 in Delhi. In comparison, diesel costs Rs 69.23 in Mumbai, Rs 67.70 in Kolkata, Rs 68.58 in Chennai and Rs 65.01 in Delhi.

As a result, motorists in India should brace themselves for paying more for their choice of fossil fuel. As is known, both petrol and diesel prices have hit record highs in the past fortnight. Now, expect a further rise.

In fact, oil prices had sharply risen on April 11 after US president Donald Trump had tweeted about a potential strike in Syria. On Wednesday, global crude (Brent) rose nearly 0.90 percent to $ 71.66, having gone past the S70 mark a day earlier.

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