Petrol and diesel prices across major Indian cities held steady on Monday, May 11. But Prime Minister Modi’s fresh appeal to conserve fuel, linked to West Asia tensions and climbing global crude prices, is raising expectations of an imminent hike. With state-run oil companies reportedly covering heavy losses, prices may soon be adjusted to balance the impact.
Petrol and diesel prices stayed unchanged across India on May 10 despite oil marketing companies racking up losses of around Rs 30,000 crore per month as global crude costs rise. With sources warning that further increases may be on the way in the coming days, commuters may soon see fuel rates move after this brief pause.
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