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India Raises Retail Fuel Prices For The First Time Since The Iran War Started

Cars fill up with fuel at a station in the Eastern Himalayan state of Sikkim, India, on April 16, 2026. India, the world's third-largest oil importer and consumer, has increased retail fuel prices for the first time in four years, raising petrol and diesel prices by 3 rupees (approximately $0.03) per litre. This adjustment follows disruptions to shipping through the Strait of Hormuz due to conflict and aims to recover losses from rising global crude oil prices. Prime Minister Narendra Modi has called for measures such as fuel conservation, work-from-home practices, and restrictions on travel and imports as global energy prices impact the country's foreign exchange reserves. (Photo by Soumyabrata Roy/NurPhoto)

Photo ID	#13708570
Date Taken	16 April 2026
Location	N/A
Photographer	Soumyabrata Roy/NurPhoto
Category	Economy, Business and Finance
Copyright	© 2026 NurPhoto - Soumyabrata Roy/NurPhoto

India oil importer fuel consumer retail fuel prices Strait of Hormuz petrol prices diesel prices fuel retailers crude oil prices Prime Minister Narendra Modi fuel conservation work-from-home travel restrictions imports energy prices foreign exchange reserves Sikkim fuel station cars April 16 2026 Soumyabrata Roy NurPhoto