Indian state fuel retailers, ​which control 90% of the market, began raising pump ​prices from May 15 after elections were over ⁠in some key states.

Since then, the state companies — Indian Oil ​Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp — have raised ​the prices of diesel by about 8.6% and petrol by about 7.8%.

A litre of petrol in New Delhi will now cost 102.12 rupees ($1.07), while ​diesel will be priced at 95.20 rupees ($0.9949) per litre.

Rising ​crude prices and supply disruptions after the closure of the Strait of ‌Hormuz ⁠have hit India, the world’s third-largest oil importer and consumer.

New Delhi has also introduced austerity measures to curb fuel consumption and contain its oil import bill as policymakers brace for a prolonged ​energy shock.

Prices ​vary across states ⁠due to local taxes.

State retailers’ losses on fuel sales have also risen as some bulk customers ​are turning to cheaper retail pumps, causing shortages ​in ⁠some areas.

IOC, in a statement on Saturday, said its retail sales of diesel for May 1-22 had risen by 18% from ⁠a ​year earlier, and petrol sales were ​up by 14%.