The world’s third-largest oil importer announced increased fuel prices and austerity measures due to the energy crisis. India has raised fuel prices by about 3 percent as the energy crisis driven by the Iran war and closure of the Strait of Hormuz starts to bite on the economy. The government in New Delhi announced the 3 rupees ($0.03) per litre price hike on Friday, as it moved to offset losses triggered by the shortage of supply. Gasoline prices rose to 97.77 rupees ($1.02) a litre, while diesel climbed to 90.67 rupees ($0.94). Recommended Stories list of 3 items list 1 of 3 Trump, Xi discuss Strait of Hormuz as Chinese vessels transit key waterway list 2 of 3 Iran urges BRICS nations to condemn US-Israeli war aggression list 3 of 3 Iran war day 77: Trump, Xi discuss Hormuz as Tehran rallies BRICS end of list India is the world’s third-largest oil importer, with 90 percent of the oil it consumes coming from overseas, and about half of its usual crude supplies transiting the Strait of Hormuz.…