Fuel Price Increases Reflect Broader Economic Pressures on India's Refiners Indian Prime Minister Narendra Modi has urged restraint and cuts in non essential expenses, but his government's state run refiners are facing the harsh reality of a war driven economic squeeze.
The latest fuel price hike marks the second increase in less than a week, and it's clear that the conflict in Iran is having far reaching consequences for India's economy.
The recent remarks by Modi come at a time when the world's largest democracy is struggling to cope with rising inflation and slowing growth.