India Trade Gap Widens to 3-Month High as Crude Imports Surge
India's trade gap widened to a three-month high in April as a surge in imports, driven by higher crude purchases amid the Mideast war, outpaced a 13.78% increase in goods exports.
The new trade data adds to signs of pressure from energy costs after state-run fuel retailers raised petrol and diesel prices by more than 3% on Friday, the first increase in four years. That earlier move followed higher global crude prices and supply disruptions linked to the conflict in the Middle East.
From the sources (13 posts)
@businessIndian state fuel retailers raised prices of diesel and gasoline on Friday, the first hike in rates in four years
@businessIndian state fuel retailers raised prices of diesel and gasoline on Friday, the first hike in rates in four years
@reutersIndia has raised petrol and diesel prices for the first time in four years by $0.03 per liter, or more than 3%, according to retailers in Delhi, to recoup some of the losses incurred due to higher global crude oil prices
@ajenglishIndia has raised fuel prices by about 3% as the energy crisis driven by the Iran war and closure of the Strait of Hormuz starts to bite on the economy.
@theinsiderpaperIndia’s state-run oil companies raised petrol and diesel prices by more than three percent on Friday as disruption to energy supplies due to the Iran war mounts pressure on the economy.
@ajenewsBREAKING: India hikes fuel prices as Iran crisis bites Read more:
@ajenglishRT @AJENews: BREAKING: India hikes fuel prices as Iran crisis bites Read more:
@cointelegraph🇮🇳 LATEST: India raised fuel prices for the first time in four years as the Iran war pushes global oil prices higher.
@zerohedgeIndia's Trade Deficit Surges As Energy Import Prices Soar
@reutersIndia's trade gap widens as crude imports surge due to Mideast war
@zerohedgeIndia Raises Fuel Prices For The First Time In Four Years
@firstsquawkFuel prices in India have been increased for the first time in four years, marking a major shift in energy pricing policy.
@firstsquawkGoods exports from India increased 13.78% in April, but a surge in imports pushed the trade deficit to a three-month peak.