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India's Petrol Prices Reach 50-Month High Amid Geopolitical Tensions

Guavy AI Editorial Team
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India's petrol pricing benchmark has reached a 50-month high of $133.05 a barrel, putting state-run oil marketing companies (OMCs) under pressure amid geopolitical tensions.

The average daily benchmark price for petrol between September 1 and 18 was 20% higher than the August average of $110.87 a barrel, according to official data.

OMCs are currently losing about ₹5 a litre on petrol and ₹20 on diesel, industry experts said, with some private oil companies restricting bulk diesel sales.

Experts warn that international crude prices could rise further if geopolitical disruptions worsen or India and China face pressure to reduce purchases of Russian oil.

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