Oil prices surged by 7% on March 2, reaching $108 per barrel, following remarks from former US President Donald Trump regarding potential military actions in Iran. Trump indicated that the US would conduct significant military operations in the region, stating, "We're going to hit them extremely hard over the next two to three weeks." This geopolitical tension has affected global energy markets, with US energy stocks also seeing gains—Exxon Mobil up 3% and Chevron by 2.6%. In India, petrol prices fluctuated around ₹103.50 per litre, while diesel prices remained stable at ₹90 per litre. The Indian rupee strengthened by about 2%, trading at ₹92.8350 against the US dollar, contributing to the local economic landscape. Petrol prices in India are influenced by higher taxes and global crude prices, making them more expensive compared to neighboring countries.