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Mon · 09 Nov 2026

India Raises Fuel Prices for Second Time in a Week as Crude Losses Mount

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India Raises Fuel Prices for Second Time in a Week as Crude Losses Mount

🛢️ NEW DELHI — India's second fuel hike in a week means the government blinked first. 📌 LOOK CLOSER: Two hikes in seven days signals India's subsidy buffer is gone. With the rupee at record lows and 85% oil import dependence, each Hormuz-driven barrel costs more in local currency. Delhi is transferring the pain to consumers — politically risky for Modi. Watch for domestic pressure to mount if the Strait stays shut.

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