₹3 Hike Just The Beginning? Former HPCL Chief Warns Of Double-Digit Fuel Price Hike Risk

Could India be heading towards a double-digit hike in petrol and diesel prices? Former HPCL CMD MK Surana tells Business Today TV that the recent ₹3 per litre fuel price hike is far from enough to offset the massive under-recoveries faced by oil marketing companies. With crude oil prices soaring due to the ongoing West Asia conflict and the rupee weakening sharply, OMC losses remain in double digits. Surana warns that current fuel prices may not even cover crude procurement costs for some companies. He also explains why the government is opting for a calibrated approach instead of sudden sharp hikes to avoid an inflation shock. Will consumers face another round of fuel price increases soon? Watch this detailed discussion on India’s growing fuel and energy challenge.