India has once again raised fuel prices as global supply pressures intensify. State-run oil marketing companies have increased petrol and diesel prices for the fourth time within 10 days, driven by disruptions linked to ongoing conflict in the Middle East.

Since the conflict began in February, fuel prices in India have risen by nearly 5%, reflecting continued stress in global energy markets. Rising tensions in regions such as Iran and the Hormuz Strait—one of the world’s key oil transit routes—have disrupted supply flows and pushed prices higher.

India, the world’s third-largest crude oil importer, sources nearly half of its crude supplies through this sensitive maritime corridor. Growing supply risks have therefore led to frequent domestic price adjustments.

Following the latest revision, fuel prices across the country have increased by more than ₹2 on average. In New Delhi, petrol prices rose from ₹99.50 to ₹102.12 per litre, while diesel climbed to ₹95.20 per litre.

The increase comes shortly after Prime Minister Narendra Modi emphasized the need to manage fuel consumption to protect foreign exchange reserves, highlighting the importance of controlling import costs through disciplined usage.

Meanwhile, India has increased crude oil imports from Russia to offset supply shortages from the Middle East. Shipping and import tracking data indicate a shift toward alternative sources following temporary exemptions from sanctions.

Petroleum and Natural Gas Minister Hardeep Singh Puri stated that oil marketing companies are under significant financial pressure, reportedly incurring losses of around $120 million per day. Despite this, he said uninterrupted energy supply has been maintained across the country.

As global crude markets remain unstable due to geopolitical tensions, India continues to balance domestic price adjustments with efforts to diversify its energy import sources.