Indian state oil refiners are anticipating a 5 rupee (approximately $0.06) increase in retail fuel prices for diesel and gasoline in response to significant losses amounting to 10 billion rupees (around $105 million) per day. The rising costs are attributed to the ongoing conflict in the Persian Gulf, which has disrupted vital energy imports and increased crude oil prices. Prime Minister Narendra Modi has urged citizens to reduce fuel consumption to mitigate the economic fallout. While a price hike is necessary, analysts suggest that a more substantial increase of 15 to 20 rupees would be required to effectively curb losses, but such a move could politically strain the government. State-owned refiners, which account for about 90% of sales, have faced deteriorating financial conditions since April due to higher feedstock costs and stagnant pump prices, despite managing to contain losses earlier in the year.