As oil prices rise, Indian rupee, bonds fall - India imports more than 80% of its oil requirements and the rise in crude prices can push up the country’s trade deficit and weaken rupee.
The government should revisit the biodiesel program in a bid to cushion the impact of surging oil prices in the country, senatorial candidate Manny Piñol said.
Six top executives from oil companies have been summoned to testify before the House Energy and Commerce Committee in April. This comes amid the gas price hike that many Americans are experiencing amid the Russia-Ukraine war.