Goa, May 19 -- Rising crude oil prices amid ongoing tensions in West Asia have pushed fuel prices higher across the world. With crude prices crossing the $100-per-barrel mark and disruptions continuing in the Strait of Hormuz, governments and oil companies are facing mounting pressure to manage rising import costs and inflation.

India recently increased petrol and diesel prices after public sector oil marketing companies absorbed losses for several weeks. However, compared to many countries, India's fuel price hikes have remained relatively moderate so far.

Countries with market-linked fuel pricing systems have witnessed much sharper increases, especially those heavily dependent on imported crude oil and global shipping routes.

The ste...