India's petrol and diesel prices saw a modest increase of 4.2% and 4.4%, respectively, between February and May 2026, significantly lower than the dramatic hikes experienced in neighboring countries. This price moderation comes amidst a global surge in Brent crude oil prices, which rose to around $110 per barrel due to the ongoing crisis in the Strait of Hormuz. Countries like Myanmar reported staggering increases of 89.7% for petrol and 112.7% for diesel during the same timeframe. To cushion consumers from the impact of rising oil prices, the Indian government has implemented several excise duty reductions and retail fuel price cuts since 2021. Notably, the March 2026 SAED cut reduced petrol excise duty to ₹3 per litre and eliminated diesel excise duty. The government's adjustments, including a projected revenue impact of around ₹30,000 crore for the fiscal year, have played a crucial role in absorbing some of the price increases. Additionally, fuel prices in India vary significantly across states due to different VAT rates, with states like Andhra Pradesh and Kerala imposing higher taxes, resulting in elevated fuel costs.