India will have to pass higher fuel prices to consumers at some point: IMF's Srinivasan

IMF Director (Asia Pacific) Krishna Srinivasan said India will have to pass on higher fuel prices to consumers if crude oil prices remain elevated. "At some point...you'd have to allow price signals to start working," Srinivasan said at an event on Tuesday. India has kept fuel prices unchanged despite OMCs incurring ₹24/litre and ₹30/litre loss on petrol and diesel, respectively.