Four years of frozen fuel prices end as Iran war bites: India raises petrol, diesel by Rs 3/litre but oil firms say it's not enough

Fuel prices have increased by Rs 3 per litre for petrol and diesel. This is the first pump price hike in four years. The move aims to reduce losses for oil companies. However, it is expected to increase freight costs and inflation. More price revisions are anticipated in the coming weeks. CNG prices have also seen a rise.

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