India raises fuel prices for fourth time in May

India’s state-owned fuel retailers have increased petrol and diesel prices for the fourth time this month as they seek to recover losses caused by higher crude oil costs linked to the US-Israel war on Iran and disruptions to energy supplies.

Diesel prices were raised by 2.71 rupees per litre, while petrol prices increased by 2.61 rupees per litre, dealers said.

The latest increase marks the fourth fuel price hike since 15 May and brings cumulative increases to nearly 7.5 rupees per litre over the past two weeks.

In New Delhi, petrol now costs 102.12 rupees per litre and diesel 95.20 rupees per litre.

Rising crude prices and supply disruptions linked to the Strait of Hormuz have added pressure on India, the world’s third-largest oil importer and consumer.