Editorial photo #13749795 Economy, Business and Finance

Indian Retailers Raise Fuel Prices A Fourth Time To Rein In Losses

An employee fills the tank of a motorcyclist as newly increased fuel prices are displayed at a Hindustan Petroleum fuel station in Srinagar, Jammu and Kashmir, on May 25, 2026. India's state-owned fuel retailers increase diesel prices by 2.71 rupees ($0.0283) per litre and petrol by 2.61 rupees, marking the fourth increase in May. The price adjustments aim to address losses driven by higher crude costs due to the conflict involving the United States, Israel, and Iran. India, the world's third-biggest oil importer and consumer, is among the last major economies to raise retail fuel prices following disruptions to shipping through the Strait of Hormuz. Earlier, Indian Prime Minister Narendra Modi urged citizens to reduce fuel consumption by using public transport, working from home, reducing overseas travel, and pausing gold purchases, as rising global energy prices impact the country's foreign exchange reserves. (Photo by Firdous Nazir/NurPhoto)