The impact of the ongoing Iran-America war in the Middle East is now clearly visible on the entire world. Due to this war, the supply of oil has been affected, due to which shortage of oil is being felt in many countries. Its effect is also being seen in India’s neighboring country Pakistan, where the situation is becoming increasingly difficult.
Due to shortage and rising cost of oil, the Pakistan government has once again increased the prices of petrol and diesel. This time the prices have been increased by Rs 26 77 paise per liter, which has had a direct impact on the common people.
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Petrol-diesel price in Pakistan
After the new prices, petrol in Pakistan has become Rs 393 35 paise per liter, while the price of diesel has reached Rs 380 19 paise per liter. The increase in fuel prices is sure to affect the prices of everyday items as transportation becomes expensive. People of Pakistan are facing economic pressure due to continuously rising prices. If the situation in the Middle East does not improve soon, oil prices may increase further in the future, making the situation more difficult.
Prices increased due to Strait of Hormuz
The biggest impact of the ongoing war between Iran and America is on the supply of oil. This is the reason why oil shortage and rising prices are being seen all over the world. Whenever the situation worsens in this area, the first impact is on the route through which a large part of the world transports oil. The Strait of Hormuz is the most important place in this whole matter. About 20 percent of the world’s oil passes through this route. If tension increases here or the road gets blocked for some reason then the oil supply gets immediately affected. Due to this, oil shortage starts in many countries of the world and prices start increasing rapidly.
Also read: America’s big action amid war with Iran, ban on China’s refinery, why did Donald Trump take this decision?
