Diesel shortage strands truckers in India as retailers curb sales
India
India's highways are seeing stranded trucks and frustrated drivers, thanks to a diesel shortage.
Private fuel retailers like Nayara Energy and Shell have either cut back on sales or bumped up prices because global oil costs are rising.
Some truckers are spending hours searching for fuel, while others are forced to stop mid-route when their tanks run dry.
State refiners lose ₹10 billion daily
With private stations hiking prices, more people are heading to government-run pumps where diesel is cheaper, making them extra busy.
But these state refiners are losing about ₹10 billion, or $120 million, every day by selling fuel below cost.
Even a planned price increase isn't enough to cover their losses, as higher crude prices and a weak rupee pile on the pressure.