New Delhi, May 15 -- Indian consumers - struck by the first petrol price rise in 48 months - shall probably encounter additional spikes shortly, as the Narendra Modi administration navigates the financial fallout of a protracted military conflict in the Persian Gulf.

Following a period of conjecture, India's government-run refiners at last declared a hike in diesel and petrol costs on Friday - albeit merely by Rs.3 per litre, a margin too slight to balance petroleum costs exceeding $100 per barrel or dampen consumption.

Additional increases will be permitted to bridge that deficit, yet they shall be distributed gradually to restrict the blow for typical families, as per sources acquainted with the situation. Another 2-4 rupee jump is an...