Indian Oil Corp. earlier today raised jet fuel prices for local airlines significantly, before cutting them sharply hours later, media are reporting, as the world’s third-largest importer of crude grapples with the fallout of the Middle East war. Jet fuel prices in India surged twofold earlier in the day, the Indian Express reported, hitting an all-time high of 207,341 rupees, equal to almost $2,200 per kilolitre in New Delhi, as the country’s largest oil company sought to manage the impact of oil import disruptions. Hours later, however,…