India has raised fuel prices for the first time in four years, responding to the surge in global oil prices driven by the ongoing conflict in Iran. The decision reflects the impact of geopolitical tensions on energy markets, as the war has disrupted supply chains and increased demand pressures. The price hike is expected to affect various sectors of the Indian economy, with transportation and manufacturing likely to see the most immediate impact. This move comes as countries worldwide grapple with the economic repercussions of escalating oil prices.