India’s petrol and diesel prices remained largely stable on 18 August despite a sharp rise in global crude prices. Oil climbed amid renewed US-Iran tensions, fears of wider conflict, and uncertainty over the Strait of Hormuz, a key route for global energy supplies.
The value of the crude oil barrel exceeded the mark of 91 dollars in the international market. However, consumers in India noticed a scenario of relative stability, with prices of gasoline and diesel at the retail of the country presenting few significant changes, despite the global rise. While most cities maintained the values, some localities [...]