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India Reportedly Raises Fuel Prices as Hormuz Blockade Continues Into 3rd Month

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India ended its multi-year retail fuel price freeze on Friday, as state-owned oil marketing companies implemented a nationwide hike of roughly 3 Indian rupees ($0.031) per liter on petrol and diesel, multiple media outlets reported Friday.

Arvind Kumar, the chief of refining operations at state-owned Indian Oil, told the national news agency ANI that the price bump is a necessary safety net to ease the immense financial pressure on the country's energy sector. He reassured that the company's ten major refineries are running around the clock at over 100% capacity to guarantee no local filling stations run dry.

While OMCs adjusted baseline pricing, the government is reportedly urging remote-work options to curb national crude demand.

The price correction addresses mounting financial strain on state retailers, which had held retail pricing steady for over 11 weeks despite a massive surge in crude costs due to the ongoing West Asia crisis.

has reached out to Indian Oil for comment.

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