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The Economic Times

Economy / The Economic Times

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First fuel price hike in 4 yrs: More increases ahead?

India is the worlds third-largest oil importer, heavily dependent on global markets and energy flowing out of the Persian Gulf. In a crisis, the government typically prioritises the protection of its 1.4 billion, price-sensitive consumers and containing inflation, but last Fridays increase suggests it is beginning to restore a balance as fiscal and market pressures grow.

18 May 2026 6:30 am