Can't hold fuel losses indefinitely: Officials; crude averages $105 a barrel in May so far

Soaring crude oil prices, averaging $105.4 a barrel, are straining oil companies' finances as they sell fuel below cost. Despite government excise duty cuts, losses are unsustainable. Experts suggest gradual price hikes and innovative strategies to manage the transition to renewables while supporting companies' investments and the macroeconomy.

from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/7yWgGUK