Fuel Prices

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

Govt hikes windfall tax on diesel, ATF exports; petrol duty unchanged

There is no change in the rate of duty on exports of petrol and it continues to be at ₹1.5 per litre

Datanomics: Petrol price index crosses 100 for first time in new series

Petrol and diesel inflation accelerated in May 2026 as repeated fuel price hikes pushed CPI indices above 100, driven by rising global oil market pressures

Fuel prices to be reviewed based on crude oil supply: Suresh Gopi

Union Minister of State for Petroleum and Natural Gas Suresh Gopi on Sunday said fuel prices would be reviewed based on the availability of crude oil supplies. Replying to reporters' questions on a possible revision in fuel prices, Gopi said the situation would be assessed based on crude oil supplies. "Let us see the supply of crude oil. We have the minister concerned, Hardeep Singh Puri. Let it come," he said. He also asked reporters whether they had the role of a supervisory ministry. Fuel prices, including petrol, diesel and LPG, have witnessed hikes in recent weeks. The increase followed disruptions in crude oil and natural gas supplies linked to the ongoing conflict in West Asia. PTI TBA.

Ethanol Gambit: E85 push must be matched by a long-term transport strategy

Every increase in ethanol content requires engineering changes, recalibrating engines, testing, certification, and modifications to components exposed to fuel

OMC underrecoveries for diesel at ₹30 per litre, petrol at ₹6 per litre

State-run oil firms continue to face financial pressure from subsidised LPG sales, even as recent fuel price hikes have sharply reduced under-recoveries on petrol and diesel

Fuel, LPG price hikes a war fallout, PM handled it effectively: Fadnavis

Maharashtra Chief Minister Devendra Fadnavis on Sunday rejected the Opposition's criticism over fuel and gas price hike, attributing the fluctuation in rates to the Iran-US conflict. He said Prime Minister Narendra Modi has deftly handled the situation and taken steps to contain fuel costs even as petrol, diesel and gas prices skyrocketed in other countries. The Opposition has criticised the Central government over the rise in prices of essential commodities. Earlier in the day, NCP (SP) chief Sharad Pawar said the government would pay a "political price" as frequent hikes in essential commodities were burdening the common man. "The whole world knows the situation of war, and no country remains untouched. In every country, petrol, diesel and gas prices are high. In India, the Prime Minister has done a lot to contain the prices. I feel that as long as the war situation remains like this, some things will continue, but we have also seen before that prices had fallen, so when demand a

Hardeep Puri launches E85 fuel; to be 20% cheaper than E20 petrol

E85 fuel will initially be available at 48 outlets and is planned to reach 5,000 retail pumps by December 2027, supporting higher ethanol blending levels

India's fuel demand outlook hit by price hikes, slowing industrial activity

State retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum implemented four rounds of price hikes ‌since mid-May after holding off earlier due to elections

Fuelling the new normal: The high cost of insulating India's fuel users

India is bearing a high cost to insulate motorists, kitchens and flyers from large-scale disruptions in fuel supply

Fuel price hikes could add up to 48 bps to inflation, warns Crisil

Crisil said cumulative increases in petrol and diesel prices could approach Rs 10 per litre, raising transport costs and exerting upward pressure on both food and core inflation