State-run oil marketing companies (OMCs) in India are advocating for an increase in retail prices of LPG, petrol, diesel, and aviation turbine fuel (ATF) as crude oil prices have surged past $126 per barrel. This spike follows geopolitical tensions, particularly an extended naval blockade of Iran announced by US President Donald Trump, which threatens to disrupt global oil supply. OMCs are currently facing significant losses and are urging the government for a quick adjustment to reflect higher global prices. Despite the strong case for a price hike, government officials have indicated a reluctance to act swiftly, citing concerns over inflation and the impact on public finances. The average prices of diesel and petrol in April were reported to be 119% and 69% higher than in February, respectively, while LPG prices rose over 40%. The government has previously frozen pump prices, allegedly due to electoral considerations, and is now balancing the need for OMC financial stability against the risk of rising inflation and economic growth challenges.