Mideast Crisis Sends Fuel Prices Soaring Across India, Cambodia

(MENAFN) Surging crude oil prices, stoked by escalating tensions in the Middle East, are rippling across South and Southeast Asia, forcing governments to pass mounting energy costs onto consumers. India and Cambodia both announced fuel price increases this week, intensifying inflation pressures across the region.

In India, state-run oil marketing companies raised petrol and diesel rates for the second time in less than a week on Tuesday, hiking prices by roughly 90 paisa per liter — approximately one U.S. cent — according to Indian media. The adjustment follows a 3-rupee-per-liter (3.6 cents) increase just five days prior, marking the country's first upward revision in over four years and bringing the cumulative monthly increase to nearly 4 rupees per liter (4.8 cents).

Pump prices now reflect the strain: in Delhi, petrol stands at 98.64 rupees per liter ($1.18) and diesel at 91.58 rupees ($1.10), while consumers in Mumbai and Bengaluru are paying upward of 107 rupees per liter ($1.28) for petrol.

Indian oil companies cited soaring international crude prices and deepening losses on domestic fuel sales, as fears of supply disruptions intensified around the Strait of Hormuz. Officials told a broadcaster that state retailers Indian Oil, Bharat Petroleum, and Hindustan Petroleum had been absorbing the financial hit by holding retail prices steady despite climbing import costs — a position that became untenable as industry estimates placed their collective daily losses at more than $120 million before the latest revisions.

Cambodia, too, has adjusted fuel prices upward in response to volatile global energy markets, a Cambodian newspaper reported. Regular gasoline climbed from approximately $1.28 to $1.35 per liter, while diesel edged up from roughly $1.13 to $1.15 per liter. Cambodian authorities attributed the revision to higher international oil prices and growing anxiety over disruptions to global crude supply chains tied to the Middle East conflict. With Cambodia importing nearly all of its fuel needs, domestic prices remain acutely exposed to global market swings, the newspaper noted.

MENAFN19052026000045017169ID1111136929