India raises retail fuel prices for first time since Mideast war began - World

Indian state-run fuel retailers raised petrol and diesel prices for the first time in four years, increasing them by 3 Indian rupees per litre. The Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp, which control over 90% of India’s fuel stations, set the new prices reflecting increases of 3.4% and 3.2% respectively. The price hikes are intended to recoup losses incurred due to higher global crude oil prices, but analysts predict further increases may be necessary. The government has implemented austerity measures in response to surging energy prices, including work-from-home policies and travel restrictions.