India, May 15 -- Days of anticipation about a possible affect of the West Asia conflict on domestic fuel prices ended on Friday as oil companies increased by Rs.3 each rates of petrol and diesel in India, a move that the government hinted was coming amid severely impacted global energy supplies.

The February 28 US-Israeli strikes on Iran sparked a retaliation by the latter that led to a full-scale war which has rattled the entire oil-rich Gulf and regions beyond along with virtually shutting off the Strait of Hormuz - a key waterway through which a fifth of world's energy requirements flow. Iran was able to close the strait due to its geographical advantage.

Global energy prices have been bearing the brunt of halt on movement of vessels...