Saudi Aramco CEO Amin Nasser warned that the global oil market will not quickly bounce back after a major supply shock. He said roughly one billion barrels have been lost over the past two months. Even if crude flows restart, Nasser expects the market to stay unsettled before fully normalizing, extending pain for prices and consumers.
LPG cylinder prices held steady for domestic users on May 7, 2026 even as global oil markets swung amid geopolitical tensions. The big change came in commercial LPG (19 kg) rates, which rose sharply, with Delhi priced at Rs 3,071.50. The government said supplies will remain uninterrupted and that 70% of commercial demand is already met.
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US gasoline prices surged about 50% following renewed tensions tied to the Iran war, reversing a brief period of relief. Earlier in April, prices were falling day after day as many drivers expected the conflict to ease. Now the sudden spike has renewed questions about how long fuel costs will stay elevated and when relief might return.
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