India's RBI Governor Sees Fuel Price Hike If Oil Stays High The recent statement by India's Reserve Bank (RBI) Governor regarding a potential fuel price hike due to high oil prices has sent shockwaves through the nation's economy.
The RBI Governor's warning is not an idle threat, as high oil prices have a direct and significant impact on inflation rates in emerging markets like India.
High oil prices affect India's economy primarily because of its reliance on imported oil.