Modi must not reverse fuel market deregulation

Pressed to stem rising petrol and diesel prices, Indian leader can tweak taxes

Avatar
20180419_india gas station

Drivers in India are paying record-high prices at the pump, but the government should not sway away from fuel market deregulation.

Petrol prices in Mumbai, India's financial capital and the costliest city in the country to fill up a car, have recently rocketed within sight of their historic high, around $1.24/liter.

Diesel, which is typically consumed in public transport, agriculture and industry, hit a new peak of $1.06/liter. The man on the street is not happy. But this is not a country likely to erupt in street protests or riots because of fuel price hikes -- the average driver will grumble, shell out more money at the pump and get on with life.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.