Fuel price hike insufficient, it needs to be higher by ₹13-17 a litre: Kotak despite recent rise

The prices of petrol and diesel were increased on Tuesday, marking the second hike in under a week. However, as per Financial Express, Kotak Institutional Equities argued that the recent petrol and diesel price increases are insufficient. The brokerage added that fuel prices may need to rise by another ₹13-17 per litre to fully offset the losses.