India kept petrol and diesel prices unchanged despite rising global crude after tensions near the Strait of Hormuz, while countries like UAE and United States saw sharp hikes, with oil firms absorbing losses to shield consumers
India is unlikely to raise petrol and diesel prices immediately despite global crude oil crossing $110 a barrel due to Middle East tensions. The government expects state-run oil companies to absorb the impact temporarily as supply stabilises and imports diversify away from the Strait of Hormuz
