India Hikes Fuel Prices For The First Time in Four Years
An attendant refuels a motorcycle at a gas station in Noida, Uttar Pradesh, India.
Photographer: Anindito Mukherjee/BloombergIndia’s state-run refiners have raised fuel prices for the first time in four years, as New Delhi yields to crude prices pushed higher by the war in Iran, and to the resulting financial pressures battering its processors.
Diesel and gasoline prices rose by over 3% — a modest increase in the context of an almost 50% increase in Brent crude since the conflict began. Diesel will cost 90.67 rupees a liter, gasoline will be priced at 97.77 rupees a liter in New Delhi. Prices are now the highest since May 2022.