Fuel price surge looms as crude oil costs widen gap with retail prices. Kotak Institutional Equities projects petrol and diesel prices could jump Rs 25 to Rs 28 per litre after Bengal and Tamil Nadu elections conclude on April 29. At current crude levels near $120 per barrel, refiners face mounting losses estimated at Rs 270 billion monthly. Petrol could reach unprecedented levels around Rs 120 per litre in major cities, with diesel similarly affected. However, the Petroleum Ministry has clarified no price hike proposal is under consideration, noting India has held fuel prices steady for four years despite international volatility. Any increase would ripple through transportation, delivery costs, and consumer expenses across sectors. The government continues balancing inflation concerns against refiner losses as crude prices remain elevated.
Post from MarketNews_en
Log in to interact with content.