India increases domestic fuel prices amid Strait of Hormuz disruptions 🚨
Reuters reports that India, the world’s third-largest oil importer and consumer, has increased its retail fuel prices for the second time in a week as the shipping disruptions in the Strait of Hormuz continue to pressure global fuel supplies.
On Tuesday, the Indian government raised petrol and diesel prices by approximately 0.9 rupees ($0.0093) per litre (0.26 gallons) to recover losses stemming from surging global crude oil costs.
With this latest adjustment, the price of petrol rose to 98.64 rupees ($1.02) per litre from 97.77 ($1.01) rupees, while diesel prices moved to 91.58 rupees ($0.95) per litre from 90.67 rupees ($0.94).
The price increase follows a larger 3-rupee-per-litre increase implemented on Friday, which marked India’s first domestic fuel price adjustment in four years.
$RONIN | $ONDO | $MBOX
#BREAKING #news #India #oil #Hormuz
Reuters reports that India, the world’s third-largest oil importer and consumer, has increased its retail fuel prices for the second time in a week as the shipping disruptions in the Strait of Hormuz continue to pressure global fuel supplies.
On Tuesday, the Indian government raised petrol and diesel prices by approximately 0.9 rupees ($0.0093) per litre (0.26 gallons) to recover losses stemming from surging global crude oil costs.
With this latest adjustment, the price of petrol rose to 98.64 rupees ($1.02) per litre from 97.77 ($1.01) rupees, while diesel prices moved to 91.58 rupees ($0.95) per litre from 90.67 rupees ($0.94).
The price increase follows a larger 3-rupee-per-litre increase implemented on Friday, which marked India’s first domestic fuel price adjustment in four years.
$RONIN | $ONDO | $MBOX
#BREAKING #news #India #oil #Hormuz