Fuel Prices

OMCs face ₹530 crore daily fuel losses as crude prices surge: Icra

State-run oil marketing companies are facing mounting losses on petrol and diesel sales as a surge in crude prices outpaces unchanged domestic fuel prices, rating agency ICRA said. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) are losing Rs 8 a litre on petrol, and Rs 9 on diesel, while under-recoveries on domestic liquefied petroleum gas (LPG) stood at about Rs 300 per cylinder, ICRA said. "At these levels, the daily loss to the OMCs is estimated at Rs 530 crore," ICRA said. Crude oil prices have risen sharply in recent weeks amid escalating geopolitical tensions and supply disruptions in West Asia. The surge was driven by renewed US-Iran conflict, the shutdown of Saudi Arabia's East-West pipeline and heightened Houthi activities in the Red Sea. The price of the basket of crude oil India imports rose to USD 117.4 per barrel as on September 21, 2026, from the 2025-26 average of around USD 66 a barrel. "The ...

Iran war pushes diesel to record high prices, with no relief on the horizon

The inflation-adjusted price of diesel in late August was about as high as it was in 2022 and has likely risen further

Bangladesh raises fuel prices by up to 17.4% amid global oil price surge

The new rates, ‌effective from Monday, are expected to ​raise transportation and production costs ​across the import-dependent economy, adding to inflationary pressures

Delhi autorickshaw bodies demand hike in fares after CNG price rise

With CNG prices increased in Delhi, city-based transport bodies on Saturday demanded an immediate hike in autorickshaw fares and threatened to go on a strike on September 9 if their demand was not fulfilled. The price of CNG in Delhi and adjoining cities increased by Rs 3.89 per kg from Saturday, according to Indraprastha Gas Ltd. It said a significant portion of input gas for CNG was being met through imported LNG, whose rates in the spot or current market had seen a surge since the beginning of the West Asia conflict. Auto Rickshaw Association and Delhi Pradesh Taxi Union General Secretary Rajendra Soni said, "The Delhi government should increase auto and taxi fares with immediate effect within one week, as CNG prices were increased by Rs 3.89 this morning, which has suddenly increased the financial burden on poor drivers." CNG prices have been rising over the past two to three months, with a cumulative increase of approximately Rs 10-11, he said in a statement. "The government

CNG prices hiked by ₹3.89 per kg in Delhi-NCR, new rates effective today

CNG price in Delhi and adjoining cities will rise by Rs 3.89 per kg from Saturday, Indraprastha Gas Ltd said on Friday. In a statement, IGL said a significant portion of input gas for CNG is being met through imported LNG, whose rates in the spot or current market have seen a surge since the beginning of the West Asia conflict. "With international LNG prices remaining elevated and the cost impact becoming increasingly significant, a calibrated revision of Rs 3.89 per kg has now become necessary to partially offset the increase in input gas cost," IGL said, adding that the revision in CNG prices is being effected from 6 am on Saturday.

Govt cuts windfall tax on diesel, petrol and ATF exports, effective today

Diesel export duty lowered to ₹24 a litre from ₹25.5, while petrol levy is scrapped and ATF tax cut to ₹19.5 a litre as oil prices fall

Cement firms post healthy Q1 volume growth, but costs pressure margins

Leading cement makers recorded 7-8 per cent volume growth in Q1FY27, but higher fuel, packaging and other input costs offset price gains and weighed on profitability

Govt to continue fiscal measures to mitigate future fuel price volatility

Finance MoS Pankaj Chaudhary said the Centre will balance fiscal support with sustainability while strengthening energy security and adhering to the fiscal consolidation path

Escalation of conflicts in West Asia, Europe dims hopes of fuel price cuts

Escalating conflicts in West Asia and Europe are driving diesel refining margins higher, delaying fuel price cuts and increasing losses for Indian oil retailers

E20 fuel mileage impact limited to 3-3.5%: Maruti Suzuki's Rahul Bharti

Maruti Suzuki's Rahul Bharti said E20 fuel has 3-3.5 per cent lower calorific value than E10 petrol, adding that driving and maintenance factors cause wider mileage variation

OMCs back in profit as under-recoveries on petrol and diesel shrink

Analysts and the government differ on fuel under-recoveries as crude prices ease, highlighting contrasting views on OMC margins and India's fuel pricing formula

Air India cuts fuel surcharges for North America, Europe flights

Air India has cut fuel surcharges for flights to North America, Australia, Europe, and the UK as oil prices eased in recent weeks, according to sources. The airline announced fuel surcharges on April 7 amid a surge in oil and jet fuel prices due to the West Asia conflict. The higher costs and airspace curbs had pushed up operational expenses for the airline. Fuel surcharge for North America and Australia flights have been cut to USD 200 from USD 280 per ticket and that for Europe and the UK services have been reduced to USD 125 from USD 205, the sources said on Thursday. The revised fuel surcharges are effective from July 1, the sources said. There was no comment from Air India. Fuel surcharges for other international flights and domestic services of the airline remain unchanged. Fuel surcharges for North America, Australia, Europe, and the UK flights had come into force from April 10. On April 7, the Air India Group announced fuel surcharges ranging from USD 24 to USD 280 for ..

ATF price slashed by ₹5/litre to ₹110 as global oil prices soften

Jet fuel or ATF price was cut by Rs 5 per litre on Wednesday on softening international oil prices. Aviation turbine fuel (ATF) now costs Rs 110 a litre in Delhi, industry sources said. This is the first reduction since the West Asia crisis led to a spike in jet fuel rates to a record high.

From VB-G RAM G to Delhi EV policy: Key changes taking effect from July 1

From higher rural wages and cheaper commercial LPG to new RBI rules, EV incentives, passport fees and tax deadlines, here are the key changes taking effect from July 1

Nayara cuts petrol price by ₹5 a litre, diesel by ₹3 as global rates ease

Nayara Energy, India's largest private fuel retailer, on Wednesday cut petrol prices by Rs 5 per litre and diesel by Rs 3 a litre across its nationwide network, marking the first reduction in retail fuel prices by any company in more than two years as easing tensions in West Asia pulled down international oil prices. The price cut follows a retreat in global crude oil prices after hostilities in West Asia eased and the reopening of a key maritime route restored the flow of crude oil and liquefied natural gas, reducing concerns over supply disruptions. The revised rates have come into effect at all of Nayara's more than 7,000 fuel stations across the country, industry sources said. Actual pump prices vary across states depending on local levies such as value-added tax (VAT). Public sector fuel retailers, however, kept prices unchanged. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), which together accou

Lower crude prices, strong demand to support IndiGo earnings upgrades

Easing crude oil prices, strong demand and IndiGo's expansion plans are expected to boost earnings, while lower fuel costs could improve margins across the aviation sector

High oil prices drive surge in Chinese EV sales, charging networks lag

Iran war-driven fuel price surge accelerates EV adoption across Asia and Africa, boosting Chinese automakers while exposing major gaps in charging infrastructure

Fuel prices can't be cut immediately after global rates fall: Suresh Gopi

Union Minister Suresh Gopi on Thursday said that the fuel prices cannot be reduced immediately when the rate of global crude comes down as it involves many factors, including the time taken for the cheaper oil to reach India. Gopi, the Union Minister of State for Petroleum, Natural Gas and Tourism, said of the recent hike in fuel prices, only an increase of around Rs 3.94 per litre has made an impact, but it cannot be immediately rolled back just because the cost of crude has gone down globally. "It will take time as the cheaper crude has to be transported to India via Strait of Hormuz, which will see an excessive traffic of ship movement. So things will have to be normalised," he told reporters here. He further said that since the war broke out in West Asia in February this year, the oil companies were impacted in a big way and the central government absorbed the impact to a good extent. "By absorbing the impact, the Centre lost Rs 12,000 crore. None of the states reduced their ..

Why easing OMC losses may not translate into cheaper fuel anytime soon

Fuel prices were raised to reduce losses at state-run oil companies, but despite easing pressure after lower crude prices, consumers may not see immediate relief

Turning the tide: India must address fundamental gaps in external account

Easing West Asia tensions may stabilise India's external accounts, but policymakers must focus on boosting FDI, exports and long-term capital inflows