In a significant move, India's state-owned oil marketing companies have raised petrol and diesel prices for the fourth time in two weeks, reflecting the ongoing pressures from the Middle East conflict. The latest increase, which follows a series of hikes since mid-May, has led to a cumulative rise of 8.6% for diesel and 7.8% for petrol. This surge comes despite a recent drop in global crude oil prices below $100 per barrel. Indian refiners, including major players like Indian Oil and Bharat Petroleum, are under financial strain, having only recovered 44% of their losses from previous price spikes. Petroleum Minister Hardeep Singh Puri warned that further increases could be imminent if the Iran conflict continues to disrupt supply. In response to the rising prices, Prime Minister Narendra Modi has called for fuel conservation, encouraging the public to use public transport and work from home when possible. With India relying on imports for 85% of its oil, the nation remains vulnerable to fluctuating global energy prices.