India raises diesel, petrol prices for 3rd time in 8 days, amid tense US-Iran ceasefire
AI Summary
In response to rising demand and pressures on state-run refiners, India has raised diesel and petrol prices for the third time in just eight days. This adjustment reflects ongoing economic challenges and the need to manage resource expenditures amidst fluctuating demand.
India’s state-run refiners raised retail prices again of diesel and petrol on Saturday to help processors cut losses on discounted sales and to control a spike in demand. Prices of both fuels rose by nearly one per cent, or less than 1 rupee, with petrol now sold at 99.51 rupees (US$1.0399) and diesel at 92.49 rupees per litre in New Delhi, according to the website of Indian Oil Corporation, the country’s largest fuel retailer. Prices vary across India due to local taxes. Smaller peers Bharat...