
According to the licence, the sanctions carve-out will be periodically reviewed as fuel prices rise due to the closure of the Strait of Hormuz and the ongoing crisis in the Middle East.

India's state-run fuel retailers hiked fuel prices for the second time in a week with no end in sight for the Iran conflict. Meanwhile, PM Narendra Modi will attend the India-Nordic Summit in Norway. DW has more.
Petrol, Diesel prices today: Fuel prices have seen another surge, with petrol and diesel rates increasing by approximately 90 paise per litre. This marks the second hike in under a week, pushing petrol prices in Delhi to Rs 98.64 and diesel to Rs 91.58. The h…

Petrol and diesel prices were hiked again across India, marking a second increase in a week, with sharp rises in Delhi, Mumbai, Kolkata and Chennai.
Petrol, Diesel prices today (May 12): Petrol and diesel prices remained steady on May 12, 2026, despite rising concerns over India's energy security and escalating crude oil prices. The government is absorbing daily losses to shield consumers, while urging ci…