Indian fuel prices surge with gasoline $133.05 and diesel $167.08
Business
Gasoline prices in India just hit their highest point in over four years: $133.05 per barrel this September, up 20% from last month.
Diesel is not far behind, reaching a four-month high of $167.08 per barrel.
This spike is burning a hole in the pockets of state-run oil companies, who are now losing ₹5 on every liter of gasoline and ₹20 on diesel.
Geopolitical tensions blamed for fuel surge
A mix of global drama is to blame: think geopolitical tensions, calls for India and China to cut back on Russian oil, and disruptions like attacks on Saudi oil sites and issues at the Strait of Hormuz.
Experts say if things stay tense worldwide, we could see prices climb even higher, making fuel costs an ongoing headache for everyone.