Gasoline and diesel prices in India hit a new record-high on Wednesday, adding another concern for the oil market about demand in the world’s third-largest oil importer. India is reeling from a resurgence in COVID, with mobility already restricted locally because of the pandemic. Now the high fuel prices—too high for many households—also threaten to lead to further declines in India’s consumption of transportation fuels. The price of the most used fuel in India, diesel, jumped on Wednesday , and so did the price of gasoline, for the seventh increase in prices so far in May, and the third day of price hikes this week alone. Indian refiners, which had either reduced or frozen fuel prices between the end of March and the middle of April, resumed raising fuel prices after local elections in five states ended early this month. Fuel prices vary from one state in India to […]