India limited fuel rises near 5% despite West Asia crisis
Despite a worldwide spike in fuel prices triggered by the West Asia crisis and shipping issues near the Strait of Hormuz, India's gasoline and diesel prices rose only about 5% in May 2026.
This came after nearly 76 days during which domestic fuel prices were largely held steady, with gradual increases on May 15, 19, and 23, making India stand out for its steady approach.
Excise cuts kept India's hikes low
While Indian fuel prices went up by around ₹4.74-4.82 per liter, countries like Myanmar saw diesel prices jump as much as 112%, and Pakistan and Malaysia also faced sharp fuel-price hikes.
Thanks to excise duty cuts—including a ₹10 per liter reduction in March—India managed to keep its increases among the lowest in the region, easing the pinch for everyday consumers during this global energy crunch.