{"id":402973,"date":"2021-03-04T10:23:28","date_gmt":"2021-03-04T04:53:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=402973"},"modified":"2021-03-04T10:23:28","modified_gmt":"2021-03-04T04:53:28","slug":"indias-record-high-petrol-and-diesel-prices-threaten-road-to-recovery","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indias-record-high-petrol-and-diesel-prices-threaten-road-to-recovery\/","title":{"rendered":"India\u2019s record-high petrol and diesel prices threaten road to recovery"},"content":{"rendered":"<p>India\u2019s record pump prices of gasoline and diesel are the newest threat to the economy\u2019s nascent recovery, as high local taxes on retail fuel risk fanning inflation and driving a wedge between the objectives of fiscal and monetary policymakers.<\/p>\n<p>Gasoline prices were at an all-time high of 97.6 rupees ($1.3) a liter in Mumbai Tuesday, while diesel &#8212; the bellwether of industrial activity &#8212; sold for a record 88.6 rupees, data from state-run Indian Oil Corp. show. Taxes make up more than half of that cost and represent a sore point for the inflation-targeting Reserve Bank of India, which has vowed to keep borrowing costs low for as long as needed to support economic growth.<\/p>\n<p>\u201cPersistently higher prices could lead to a generalized inflationary environment, making it difficult for the RBI to hold on to its growth commitment,&#8221; said Priyanka Kishore, chief India and South-east Asia economist at Oxford Economics in Singapore. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s record pump prices of gasoline and diesel are the newest threat to the economy\u2019s nascent recovery, as high local taxes on retail fuel risk fanning inflation and driving a wedge between the objectives of fiscal and monetary policymakers. Gasoline prices were at an all-time high of 97.6 rupees ($1.3) a liter in Mumbai Tuesday, while diesel &#8212; the bellwether of industrial activity &#8212; sold for a record 88.6 rupees, data from state-run Indian Oil Corp. show. Taxes make up more than half of that cost and represent a sore point for the inflation-targeting Reserve Bank of India, which has [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-402973","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=402973"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402973\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=402973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=402973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=402973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}