India has announced its first major fuel price hike in nearly four years as the Iran war and Strait of Hormuz crisis shake global oil markets. Petrol and diesel prices have risen by around ₹3 per litre across major cities, while CNG has also become costlier. The government says soaring crude prices and mounting losses forced oil companies to revise rates after months of holding prices steady. Prime Minister Narendra Modi has urged fuel conservation and work-from-home measures as fears grow that rising transport costs could trigger a fresh wave of inflation across India.