New Delhi: The government has raised petrol and diesel prices for the fourth time in fewer than two weeks. This period has seen a hike of over Rs 7 in fuel prices.Along with the rise in the prices of food and essentials, the latest round of fuel price hikes is likely to add to the worries of ordinary Indians.Although a reaction to the crisis in West Asia, created as a result of the war started by Israel and the US on Iran, these fuel price hikes were affected by the Union government only after the assembly elections in four states and a Union territory were over.This hike takes place in spite of reports saying that three state-run oil marketing companies – Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited which control over 90% of domestic fuel retail market, have registered a combined net profit of Rs 19,470 crore in the January-March 2026 quarter, a 40.74% growth over the same period last year, despite the impact of global energy supply disruptions in March.India, the world’s third-largest importer and consumer of oil, was one of the last major economies to raise retail fuel prices. However, Indian oil prices were already among the highest globally.Petrol prices in all of the four main cities are above Rs 100 now, with the latest hike.In the latest hike, petrol was increased by Rs 2.61 and diesel by Rs. 2.71 in Delhi.Union finance minister Nirmala Sitharaman has rubbished fears and blamed a “cynical narrative.”“India’s domestic economic situation remains positive and resilient even today. Therefore, those naysayers who jump into the scenario as it were and say that it is all falling. There is a section of Indians who very quickly want to cry the achievements of our own people. A pessimistic, cynical narrative is generated, which is just not right. It is wrong because it is fear-mongering. India cannot afford fear-mongering; we need to give confidence to our people with our words and actions. India continues as a robust economy,” she claimed at the 37th foundation event of Small Industries Development Bank of India (SIDBI).Meanwhile, net foreign investments in India fell to -$11.7 billion in March 2026 as FPI outflows surpassed positive FDI inflows.