Fuel price hike raises India stagflation risk

Gasoline and diesel costs have risen in India after a four-month freeze. Fuel costs had been placed on maintain on November 4 final yr forward of elections in 5 states.

India imports almost 85% of its gas wants and spiraling world crude costs spiked by the Ukraine disaster are actually forcing gas retailers to move on the upper costs to shoppers.

The costs had been hiked by 80 paise and judging by previous developments many extra such marginal hikes are anticipated within the coming days and weeks. Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp are the main gas retailers in India.

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