Fuel price hike?
But with excise duty cuts on fuels effective since late-March, there is the possibility of a retail fuel price hike after state elections conclude in April, especially if crude oil prices stay elevated, said Emkay Global Financial Services. A blended increase of Rs10/litre across petrol and diesel prices would lead to a 35-40 basis points (bps) rise in headline CPI; a further increase of 15-20 bps via second-order effects and passthrough is possible, Emkay said in a report on 13 April.
