Indian Oil Corporation & S&P Global — CRISIL Ratings

Indian Oil Corporation: Indian Oil Corporation, a state retailer, is implementing fuel price hikes and is currently losing 5.5 billion rupees daily due to selling fuels below market rates.

S&P Global — CRISIL Ratings: S&P Global — CRISIL Ratings is a rating agency that published a report warning about rising petrol and diesel prices adding inflationary pressures to the Indian economy.

Indian Oil Corporation: Indian Oil Corporation>>>, a state-owned fuel retailer, has increased fuel prices to recoup losses driven by higher crude costs due to geopolitical tensions. Its shares rose after the price hikes.

S&P Global — CRISIL Ratings: S&P Global — CRISIL Ratings>>>, a rating agency, has warned that the rise in petrol and diesel fares is likely to add fresh inflationary pressures to India>>>'s economy, estimating a direct impact of up to 48 basis points on CPI inflation.