On Friday, state-run oil marketing companies in India raised petrol and diesel prices by ₹3 per litre. This decision comes shortly after Prime Minister Narendra Modi urged citizens to conserve fuel and reduce consumption in light of rising global oil prices due to the ongoing US-Iran conflict. The Prime Minister's address also included appeals to postpone foreign travel and avoid gold purchases for the next year. The price hike is not uniform across cities, as local taxes and levies contribute to variations. Union Petroleum Minister Hardeep Singh Puri indicated that the government would need to consider further adjustments to fuel prices, as oil companies have been facing significant losses. Despite maintaining stable prices for 11 weeks, the companies were compelled to pass on some costs to consumers as their operations became financially unsustainable.