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Soaring Pump Prices in India Threaten Recovery, Spark Strike

  • Gasoline, diesel now costlier than when oil topped $100/bbl
  • Middle-class drivers squeezed while truckers set for protests
Updated on

Indian pump prices are in uncharted territory as ever-increasing government levies coincide with crude’s recovery from the depths of the Covid-19 pandemic.

Fuel costs have been ratcheted up to current levels by the combined effects of rising benchmark Brent prices and numerous tax hikes over the past few years. The record-high gasoline and diesel prices are leaving some Indian car owners unable to afford the cost of using their vehicles and spurring the country’s transport industry to agitate for change.