"Israel-Iran War LIVE Updates: Petrol Prices Hiked, India's Economy at Risk on RAJNEET"

**Israel-Iran war LIVE: Petrol, diesel prices hiked by ₹3 per litre as crude costs bite** The Centre has increased the prices of petrol and diesel by ₹3 per litre with immediate effect, hitting Indian consumers hard. This decision comes as crude oil prices have skyrocketed globally due to the ongoing Israel-Iran war. Petrol prices now stand at ₹107 per litre, while diesel is above ₹93 per litre in major cities, with Jaipur being the latest to witness the price hike. The state-owned oil marketing companies, including Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL), have announced the price revision after the government's directive. As a result, Indians can expect a significant increase in transportation costs, affecting their daily expenses. The current price hike is a result of the escalating tensions between Israel and Iran, which has led to a surge in global crude oil prices. Iran, being one of the major oil-producing nations, has seen its oil exports severely impacted by the ongoing conflict. As a result, oil prices have skyrocketed, making it necessary for the Centre to revise fuel prices to balance the trade deficit. The Centre has been maintaining that the fuel price revision is not a decision taken lightly, but rather a necessary step to mitigate the impact of rising global crude oil prices on the Indian economy. The price hike will directly affect Indian citizens, particularly those from the middle and lower-income groups who heavily rely on public transport. The increase in fuel prices will lead to higher transportation costs, affecting the prices of essential commodities and daily household expenses. Experts believe that this price hike may also have a cascading effect on the overall economy, potentially leading to a rise in inflation. Opposition parties have already begun to criticise the Centre's decision, with many calling for a reduction in taxes on fuel. As India continues to grapple with the fallout of the Israel-Iran war, the question remains: Will the Centre's decision to hike fuel prices by ₹3 per litre have a lasting impact on the Indian economy? Share your thoughts on RAJNEET and let us know if you think the Centre's decision is justified or not.