India could see fuel price hikes as crude tops $100
NewsBytes | May 4, 2026 7:40 PM CST
Hardeep Singh Puri cites ₹24/₹30 losses
Petroleum and Natural Gas Minister Hardeep Singh Puri says they're losing ₹24 per liter on gasoline and ₹30 on diesel, even after the government cut excise duty by ₹10 per liter.
With India's daily fuel import bill rising by nearly $200 million, refiners are urging for price hikes to recover losses.
Analysts predict an increase of up to ₹28 per liter after the assembly elections.
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