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India's Refiners Raise Fuel Prices Twice in Week Amid Middle East Supply Shock

India's state-run refiners lifted fuel prices for the second time in less than a week, marking their first increase in four years as crude costs surge from the escalating Iran conflict. The dual adjustments reflect mounting financial pressures on processors absorbing higher input costs while attempting to balance consumer impact. The government had resisted price moves for an extended period, but ten weeks of Middle East tensions have forced the hand of New Delhi's energy sector. Refiners face significant losses at current margin structures, prompting the decision to pass costs downstream. The pricing action mirrors broader global energy market strain, with similar inflation pressures appearing across developing economies dependent on imported crude supplies.