Major Indian cities' fuel prices steady despite Brent at $88.52
Despite a noticeable jump in global crude oil prices, thanks to rising U.S.-Iran tensions over the Strait of Hormuz, fuel prices in major Indian cities haven't budged.
Brent crude climbed to $88.52 per barrel this week, but gasoline and diesel rates in major Indian cities stayed put, showing the government's effort to keep things stable for now.
India cuts export taxes on fuels
To manage the impact of global price swings, the Indian government just cut export taxes on diesel and aviation fuel and dropped them entirely for gasoline exports starting August 15.
This move is part of their regular review process to make sure there's enough fuel at home while international markets stay unpredictable.
For now, if you're filling up in Delhi or Mumbai, prices are unchanged from yesterday, so no surprises at the pump.