Fuel Prices

Spirit Airlines shuts down ops due to Iran war-driven fuel crisis

The collapse of the first carrier due to a doubling in jet fuel prices during the two-month-old Iran war will cost thousands of jobs

19-kg commercial LPG cylinder price raised by ₹993; steepest increase

OMCs raise commercial LPG prices sharply amid rising crude costs, while domestic LPG and petrol-diesel rates remain unchanged; ATF for international flights also revised

No plan to raise petrol, diesel prices after polls, govt assures supply

Centre says petrol, diesel supplies remain adequate and outlines measures to manage natural gas allocation amid West Asia crisis disruptions

No risk of stagflation, underlying economic fundamentals strong: Ram Singh

Ram Singh says while such a pause cannot fix the supply disruption, it is an effective tool to mitigate a growth sacrifice that would worsen the output gap

Truckers brace for first diesel price hike in four years amid Iran war

India is among the countries most exposed to the trade upheaval in the West Asia as the conflict extends into an eighth week

WPI inflation rises to 38-month high of 3.88% in March on fuel, inputs

Wholesale inflation surged to a 38-month high in March, driven by fuel, primary goods, and manufactured products, with analysts expecting further upward pressure

OMCs losing ₹18/litre on petrol, ₹35 on diesel amid price freeze: Macquarie

Losses on petrol have widened to Rs 18 per litre and to Rs 35 on diesel as state-owned fuel retailers continue to keep pump prices frozen despite a sharp rise in input costs, sources said. Despite prices being deregulated more than a decade back, state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have not changed the retail petrol and diesel price since April 2022. Global crude oil prices have seen sharp fluctuations over this period - from above USD 100 per barrel following the Russia-Ukraine war, to easing to around USD 70 a barrel earlier this year, before surging again to about USD 120 last month after the US-Israel attacks on Iran triggered fresh supply concerns. The three firms were incurring losses of about Rs 2,400 crore per day at the peak last month, which have since narrowed to around Rs 1,600 crore daily after the government cut excise duty on petrol and diesel by Rs 10 per litre each - a ...

Power firms in Haryana seek rule change to defer fuel surcharge recovery

Power distribution companies in Haryana have approached the Haryana Electricity Regulatory Commission (HERC) seeking relaxation in rules related to recovery of fuel surcharge, officials said on Saturday. Uttar Haryana Bijli Vitran Nigam (UHBVN) and Dakshin Haryana Bijli Vitran Nigam (DHBVN) have filed petitions requesting amendments to Regulation 68 of the Multi-Year Tariff (MYT) Regulations, 2024 for financial year 2025-26. As per existing rules, additional costs arising from fuel and power purchase are recovered from consumers on a monthly basis through the Fuel and Power Purchase Adjustment Surcharge (FPPAS). The discoms have proposed to defer the monthly recovery and instead recover the amount in subsequent financial years at a uniform rate of 47 paise per unit across all consumer categories. They have also sought permission to include carrying cost to ensure recovery of dues. The Commission has not taken an immediate decision and has decided to follow a public consultation ..

Jio-bp not to raise fuel rates despite spike in international oil prices

Jio-BP, the fuel joint venture of Reliance Industries Ltd and BP Plc, does not plan to raise fuel prices immediately despite a spike in international oil prices, its chief executive Akshay Wadhwa said on Friday. The country's second-largest private fuel retailer has kept retail petrol and diesel rates steady, just like public sector firms, which have not passed on the surge in raw material (crude oil) cost to consumers for fear of spiking inflation. "We are in this with the country," Wadhwa said on the sidelines of an industry event here. The war in West Asia has driven international oil prices above USD 100 per barrel, but domestic consumers have been insulated by the oil companies and the government, which cut excise duty on petrol and diesel to obviate the need for raising prices to some extent. Nayara Energy, in which Russian oil giant Rosneft hold the largest shareholding, has increased petrol price by Rs 5 a litre and diesel by Rs 3. Nayara is the country's largest private fu

Higher fuel prices, ethanol push may accelerate EV shift: BMW India

Rising fuel prices, higher ethanol blending and improving EV ranges could accelerate electric vehicle adoption in India, says BMW Group India chief

Air India revises fuel surcharge on domestic, int'l routes amid rising cost

Distance-based charges now apply on domestic flights, with higher surcharges on international routes amid rising jet fuel costs from supply chain disruptions

Datanomics: Restaurants, kiosks face fuel price heat amid West Asia war

Rising LPG prices push kiosks and restaurants to selectively hike prices, with smaller players facing sharper pressure amid West Asia fuel disruptions

Pakistan hikes petrol, diesel prices by record 43% and 55% amid Iran war

Pakistan has announced an unprecedented increase of 43 per cent and 55 per cent in the prices of petrol and high-speed diesel (HSD), respectively, in response to spiking global oil prices amid the US-Israel war on Iran. The government made the announcement on Thursday. The price of petrol has been increased by Rs 137.23 per litre (42.7 per cent) to Rs 458.41 from Rs 321.17, while HSD by Rs 184.49 per litre (55 per cent) to Rs 520.35 from Rs 335.86, with immediate effect. The price of kerosene was also increased by Rs 34.08 per litre to Rs 457.80. The government also adjusted the petroleum levy rates to limit the increase in diesel prices as the levy on petrol was increased to Rs 160 per litre from Rs 105, while it was reduced to zero on diesel from Rs 55. Petroleum Minister Ali Pervaiz Malik while making the announcement, which he termed as a "difficult decision", said that the objective was to restrict subsidies to the most deserving segments while maintaining fiscal discipline an

Amazon to slap 3.5% fuel surcharge on third-party sellers in US, Canada

Amazon is slapping a 3.5 per cent fuel and logistics surcharge on third-party sellers using its platform starting later this month amid a spike in fuel prices since the war in Iran started. The temporary charge is effective April 17 for many of the sellers who use Amazon's fulfillment services, the online behemoth confirmed to The Associated Press in an email Thursday. "Elevated costs in fuel and logistics have increased the cost of operating across the industry," Amazon said in the emailed statement. The Seattle-based company said it has absorbed these increases so far but similar to other major carriers, when costs remain elevated, it implements temporary surcharges to partially recover these costs. It noted the charge is "meaningfully" lower than surcharges applied by other major carriers. "We remain committed to our selling partners' success and to maintaining broad selection and low prices for customers," Amazon added. Amazon's fuel and logistics-related surcharge will apply

Datanomics: One-third of airline costs burn in fuel in Indian skies

ATF consumption per aircraft moderated during FY16 to FY 25, showing gradual efficiency improvements in the aviation sector

ATF hiked by 8.5% for domestic airlines, more than doubles for others

Prices of aviation turbine fuel (ATF), or jet fuel, were more than doubled to a record Rs 2.07 lakh per kilolitre on Wednesday, driven by the the surge in global oil prices linked to the widening West Asia conflict. This is the first time ATF prices have crossed the Rs 2 lakh per kilolitre (kl)-mark. ATF prices in Delhi were hiked to Rs 207,341.22 per kl, from Rs 96,638.14 per kl. On March 1, prices of jet fuel were hiked by 5.7 per cent (Rs 5,244.75 per kl).

Weak rupee, higher fuel costs, Iran war weigh on IndiGo's FY27 outlook

Geopolitical tensions, rising crude prices and rupee depreciation prompt brokerages to cut IndiGo's earnings estimates for FY27 despite stable demand outlook

Trump says nations upset by high fuel prices should 'go get your own oil'

US President Donald Trump on Tuesday said nations upset by high fuel prices should "go get your own oil" as Iran maintains its chokehold on the Strait of Hormuz. Trump expressed his frustration toward allies that have been unwilling to help the US reopen the critical passageway in a social media post. "Go get your own oil," Trump wrote. He also said they should buy from the US because "we have plenty." His comments in a social media post on Tuesday came as average US gas prices shot past USD 4 a gallon.

Brazil's dual-fuel ethanol fleet stabilises gasoline prices amid Iran war

As the war in Iran rattles global oil markets, Brazil is partially shielded by a decades-old buffer against shocks that is both cheap and environmentally friendly. Tens of millions of drivers here can choose between filling their tank with 100 per cent sugarcane-based ethanol or a gasoline blend that contains 30 per cent of biofuel. Brazil's massive dual-fuel fleet - consisting of vehicles capable of running on any combination of ethanol and gasoline - is unique in its scale. The program, launched in 1975 during the country's military dictatorship, has successfully evolved in democratic times to reduce dependency on foreign oil. Today, as the latest conflict involving Iran, the United States and Israel enters its fifth week, nations like India and Mexico are looking at the Brazilian model as a blueprint for energy security. While consumers worldwide face steep price hikes, Brazilian gasoline prices rose just 5 per cent in March - compared to 30 per cent in the United States. Analys

Centre relaxes kerosene supply rules for 60 days amid LPG shortage

The government has granted temporary permission to OMCs to store kerosene up to 2,500 litres to ensure fuel availability for cooking purposes