The ongoing conflict between the US and Iran has raised concerns over potential fuel price hikes in India, as oil companies face significant financial losses. Prime Minister Narendra Modi has appealed to citizens to reduce fuel consumption and utilize public transport to help mitigate the situation. Reports indicate that oil marketing companies (OMCs) could incur losses of up to ₹1 lakh crore ($120 million USD) as they continue to sell fuel at lower prices despite rising costs of crude oil, gas, and liquefied petroleum gas (LPG). Discussions are underway between the finance and petroleum ministries and OMCs regarding the timing and extent of any price adjustments. The Indian government is currently absorbing around ₹1,600-1,700 crore ($192-204 million USD) daily to manage the impact of high global fuel prices. Analysts warn that if the conflict persists, inflation could rise due to India's reliance on fuel imports, particularly from the Gulf region, which is crucial for the country's LPG supply. Modi's call for reduced fuel usage aims to alleviate demand pressures, although cutting diesel consumption remains challenging due to its importance in transportation.