Fuel prices stay steady as sugar exports pause, milk costs rise and gold import duty doubles in India

Oil firms are swallowing losses while policy hits food and gold

Petrol and diesel prices in India held steady on May 14 even as global crude costs climb amid West Asian tensions. Oil marketing companies are bearing daily losses instead of passing costs to consumers. Meanwhile, sugar exports are banned to curb domestic prices, milk has turned costlier, and the government doubled gold import duty—raising fears of future fuel hikes if the conflict drags on.