State fuel traders increase retail prices by $0.0093 per litre, marking the second hike in a week due to surging crude oil costs.
India’s state-owned fuel traders increased retail prices by $0.0093 per litre, the second adjustment in less than a week. The move aims to offset margin pressures from rising global crude oil prices amid ongoing Middle East tensions.
The latest hike follows a larger increase last week, the first in four years, underscoring the strain on the world’s third-largest crude importer. Retail prices remain under pressure as geopolitical risks persist without resolution.
No immediate market reaction was reported, but sustained price adjustments could weigh on inflation and consumer spending.