India hikes fuel prices over 3% and limits gold imports
Business
With the war in Iran pushing global oil prices higher, India just raised gasoline and diesel prices by more than 3%, the first hike in four years.
The government also put new limits on gold imports and asked local government employees in the capital region of Delhi to work from home twice a week, all to save fuel and keep things running smoothly.
India imposes temporary sugar export ban
India has temporarily banned sugar exports to make sure there's enough at home.
The country's trade deficit jumped from $20.6 billion in March to $28.4 billion in April, mostly because oil is getting pricier.
Plus, foreign investors have pulled out over $19 billion this year, so experts say cutting down on non-essential imports like gold is more important than ever right now.