Fuel prices in India saw their first increase in over four years on Friday. Petrol and diesel prices rose by approximately Rs 3 per litre. This move by state-run oil companies aims to address mounting losses due to soaring global crude oil prices. The escalation in West Asia and disruptions around the Strait of Hormuz are key factors.
Petrol, diesel prices hiked by Rs 3/litre: Here’s what top economists have to say
