Modi's Fuel Price Freeze Is Costing State Retailers Billions
India may have to eventually reckon with how long its major state-owned fuel retailers could sustain losses amid soaring international prices and artificially lowered prices at home, according to Oil Minister Hardeep Singh Puri. Indiaâs oil marketing companies (OMCs) are selling gasoline and diesel below market prices, as the worldâs third-largest crude importer looks to shield consumers in the worldâs most populous country from soaring prices at the pump. Eventually, the authorities may have to assess how long these fuel retailersâŠ
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