India warns of more fuel hikes after Iran war pressures refiners and Modi faces widening losses

Refiners say they need Rs 15 to Rs 20 more

India’s first fuel price hike in four years is just a breather, not an end to rising costs. State refiners raised diesel and gasoline by only Rs 3 a litre, aiming to soften household impact while global crude stays above $100. But refiners are still bleeding money and want much larger adjustments—officials say losses top Rs 10 billion a day. The government is also pushing conservation measures and delaying larger increases, with more rises likely if the Persian Gulf conflict drags on.