India: State-run firms keep fuel prices, private retailer raises rates
India
As of October 8, gasoline and diesel prices have not budged in major Indian cities, even though global crude oil costs are climbing thanks to the ongoing U.S.-Iran conflict.
State-run fuel companies are keeping prices frozen for now, but India's biggest private fuel retailer has bumped up rates by ₹5 (gasoline) and ₹3 (diesel) per liter.
Brent crude at $101.53 amid tensions
Tensions in the Middle East are making oil markets jittery, with Brent crude hitting $101.53 a barrel.
Fears about possible attacks in key shipping routes like the Strait of Hormuz have everyone on edge.
Meanwhile, the International Energy Agency is speeding up its plan to release oil stocks to help keep prices from spiraling further, but getting supply back on track is still a big challenge worldwide.