India Raises Fuel Prices for Third Time as Iran War Squeezes Supply
⛽ NEW DELHI — Three retail hikes in a row, and India's central bank already spent $9.8B defending the rupee. 📌 LOOK CLOSER: Sequential hikes signal Delhi can no longer absorb Hormuz costs at the pump. With RBI reserves drained defending the rupee, subsidizing fuel becomes fiscally untenable. India imports 85% of its oil — no Doha deal means no relief. Domestic inflation now becomes a political pressure variable Washington could exploit for Indian diplomatic support.
