Indian Retailers Raise Fuel Prices for Fourth Time in May
Indian retailers raised fuel prices on Monday to offset higher crude costs. This is the fourth hike in May as the Iran war continues to impact energy markets.
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State-owned retailers in India raised diesel prices by 2.71 rupees ($0.0283) and petrol by 2.61 rupees on Monday. This marks the fourth fuel price hike in May as state-owned retailers attempt to recover losses from rising crude costs due to the Iran war. Escalating energy costs threaten to pressure Indian inflation and consumer spending as the conflict in Iran persists.
