Record-high gasoline and diesel prices stalled India’s fuel demand recovery in February, with oil consumption down by 5 percent to its lowest level since September last year, government figures showed on Friday. Consumption of diesel—the most used fuel in India—declined by 8.5 percent, while gasoline demand dropped by 6.5 percent, according to data from the Petroleum Ministry, cited by PTI . Last month, gasoline and diesel prices in India—the world’s third-largest crude oil importer—surged to record-high levels, but state-held refiners eventually stopped price hikes at the pump. India’s fuel demand had just started to recover almost to the levels from before the pandemic, but the rally in oil prices this year and the fuel taxes sent fuel prices to record highs . The record prices pose a threat to the recovery of consumption and risk ruining the central bank’s targeted inflation numbers and monetary policy to support economic growth […]