Fuel Price Hike Hits India: Petrol & Diesel Costlier After 4 Years | Oil Shock Explained

India has increased petrol and diesel prices by approximately ₹3 per litre, ending a nearly four-year price freeze. This decision comes as global crude oil benchmarks surge due to escalating West Asia tensions, specifically fears surrounding the Strait of Hormuz—a critical chokepoint for 20% of the world's oil.