India's petrol and diesel prices have increased by 4.2% and 4.4%, respectively, from February to May 2026, in stark contrast to the dramatic price hikes seen in neighboring countries amid a global oil crisis triggered by disruptions in the Strait of Hormuz. International Brent crude oil prices have surged to around $110 per barrel, further straining global energy supply chains. While countries like Myanmar reported staggering increases of 89.7% for petrol and 112.7% for diesel, India has managed to keep its price hikes relatively muted through proactive government measures. These measures include multiple excise duty reductions and retail price cuts implemented between 2021 and 2026, notably a Special Additional Excise Duty (SAED) cut in March 2026 that reduced petrol excise duty to ₹3 per litre and eliminated diesel excise duty altogether. These adjustments have absorbed part of the rising costs, with the March 2026 duty reduction alone potentially impacting government revenues by around ₹30,000 crore. Additionally, fuel prices vary significantly across Indian states due to differing Value Added Tax (VAT) rates, affecting consumers differently based on their location.