Fuel prices hold steady amid Middle East turmoil. Global oil production has dropped by 8 million barrels daily due to regional conflict, yet India's domestic fuel rates remained largely stable on March 15. Petrol in Delhi trades at 94.77 rupees per liter, while Mumbai sees higher rates at 103.54 rupees. Oil Marketing Companies adjust prices daily at 6 a.m. to reflect international crude costs and currency movements. The government has assured Parliament that energy security remains intact despite global disruptions and Strait of Hormuz concerns. However, the Indian rupee faces continued volatility, hitting a record low of 92.48 against the US dollar on March 13, pressured by geopolitical tensions and global economic factors that are expected to persist through March.
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