India State Refiners Eye Modest Fuel Price Hike as Losses Mount

Indian state refiners are expecting a modest increase in retail fuel prices within days, as the government seeks to balance the impact of the ten-week war in the Persian Gulf and the needs of consumers.

Processors anticipate a hike of about 5 rupees a liter for diesel and gasoline, to help mitigate an estimated loss of 10 billion rupees ($105 million) a day on fuel sales, according to people familiar with the matter, who asked not to be identified due to the sensitivity of the issue.