India’s market-based fuel pricing reforms remain hostage to domestic politics. State-run refiners stalled diesel and gasoline price rises this month to avert a possible negative influence on a key election. Prices for diesel and gasoline should have risen by 2-3pc on 15 September, in line with international markets and refiners’ pricing mechanisms. Delhi allows state-controlled refiners to revise fuel prices on the 1st and 15th of each month, but transport fuel prices last rose in May.
展开▼
