Fitch warns Indian fuel retailers face credit strain if high oil prices linger

It is the persistent price surge, not a spike,

Fitch Ratings says Indian fuel retailers could see widening credit strain if crude oil prices stay high for longer than expected. The agency warns that delaying fuel price adjustments can squeeze profits and reduce cash reserves. Fitch adds that the impact will vary across companies depending on how they manage operations and investments, with credit ratings most at risk from sustained, not temporary, price stress.