Fuel Prices

Weekly economy wrap: Fuel price hikes, rupee slide add to CAD pressure

From fuel hikes to a record RBI dividend, the week ending May 24 showed how global oil, imports, heatwaves and policy buffers are shaping India's macro outlook

Fuel austerity dampens outlook for India's annual product demand growth

India's transportation fuel demand growth is expected to slow sharply in the second half of 2026 as government-led fuel conservation measures, elevated crude oil prices and a weakening rupee weigh on mobility and consumption trends, according to energy analysts. Petrol and diesel prices have been hiked by about Rs 5 per litre each in three instalments since May 15 as oil companies passed on a part of soaring international oil prices to consumers. The price hikes came just as Prime Minister Narendra Modi urged citizens and government departments to conserve fuel, encourage remote working and reduce non-essential travel as elevated energy prices pressure foreign exchange reserves and threaten to widen the current account deficit. This together with higher prices is likely to have a sobering impact on fuel demand growth. A report by Elif Binici, Lead Analyst (Modeling) at Kpler, revised down India's 2026 refined products demand growth forecast by about 77,000 barrels per day (kbd), or

Petrol, diesel prices hiked by 87-91 paise; third time since May 15

Petrol and diesel prices were increased by up to 91 paise per litre on Saturday, the third increase in less than 10 days. Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49. This is the third increase in rates since May 15, when state-owned oil companies started passing on the elevated energy prices arising from the West Asia conflict in a calibrated manner. Prices were hiked by Rs 3 a litre on May 15, followed by a 90 paise increase on May 19. In all, rates have gone up by almost Rs 5 per litre.

CNG prices hiked by ₹1; third increase in 10 days amid West Asia conflict

CNG in Delhi now costs ₹81.09 per kg, while prices in Noida, Ghaziabad and Greater Noida have risen to ₹89.70 per kg after the latest revision

PM Narendra Modi chairs ministers' meet after five-nation foreign tour

Prime Minister Narendra Modi chaired a marathon meeting of the council of ministers amid the West Asia conflict, rising fuel prices and concerns over foreign exchange reserves

Best of BS Opinion: Govt must allow greater price adjustments

From rising oil pressures and coal gasification to urban housing reform and RBI policy, today's BS Opinion explores the economic and structural challenges shaping India's future

Govt says ₹3 fuel hike trims OMC losses to ₹750 cr/day, but relief limited

Experts warn elevated crude prices, weak rupee and persistent under-recoveries could force tougher policy choices if the West Asia crisis drags on

BPCL plans ₹25,000 crore capex for FY27, calls fuel price hike respite

State-run oil major says recent increase in retail fuel prices has eased pressure amid soaring crude prices and mounting under-recoveries

Transporters' body announces 3-day 'chakka jam' in NCR over rising levies

AIMTC has called a three-day suspension of commercial vehicle operations in Delhi-NCR over rising levies, fuel costs, and regulatory restrictions

Airlines urge OMCs to delay ATF rate hikes amid West Asia conflict

Indian airlines urge oil refiners to delay ATF price hikes for domestic flights amid rising losses triggered by the West Asia conflict

OMCs raise petrol, diesel price by 90 paise per litre, 2nd hike in a week

Petrol now costs ₹98.64 a litre in the national capital, from earlier ₹97.77 a litre and diesel is priced higher at ₹91.58 per litre

Delhi-NCR cab, auto drivers call 3-day strike from May 21, demand fare hike

The Union stated that taxi fares in Delhi-NCR have not been revised for nearly 15 years despite a steep rise in the prices of CNG, petrol and diesel, along with increased costs of vehicle maintenance

Petrol, diesel prices raised by 90 paise in second rate hike in a week

Petrol and diesel prices were increased by 90 paise per litre on Tuesday, the second increase in less than a week. Petrol price was hiked to Rs 98.64 a litre from Rs 97.77 per litre in the national capital. Diesel now costs Rs 91.58 a litre against Rs 90.67 previously, according to industry sources. This is the second increase in rates in less than a week. Prices were hiked by Rs 3 a litre on Friday. In Delhi, petrol now retails at Rs 98.64 per litre, up by 87 paise, while diesel is priced at Rs 91.58 per litre, higher by 91 paise. Mumbai saw petrol rise by 91 paise to Rs 107.59 per litre and diesel by 94 paise to Rs 94.08 per litre. Kolkata recorded the steepest hike in petrol at 96 paise to Rs 109.70 per litre, while diesel prices rose by 94 paise to Rs 96.07 per litre. In Chennai, petrol prices rose by 82 paise to Rs 104.49 per litre, and diesel by 86 paise to Rs 96.11 per litre.

The power of prices in times of crisis: Don't suppress market signals

Economies adjust to shocks through prices. The role of policymakers is not to suppress those signals

Fuel price hike cuts OMC losses by 25%; daily loss drops to ₹750 cr

A Rs 3-per-litre increase in petrol and diesel prices has helped state-run oil marketing companies trim daily losses by nearly a quarter, reducing overall losses to around Rs 750 crore per day from Rs 1,000 crore, a senior oil ministry official said Monday. However, elevated global crude prices and a weak rupee continue to keep pump rates below cost-recovery levels. At a news briefing, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said a bailout package, in the form of a government subsidy to make up for losses state-owned oil companies are incurring on selling petrol, diesel and cooking gas LPG below cost, is "still not on the table". International oil prices rose sharply after the US-Israeli war against Iran triggered the largest-ever oil supply disruption. To keep the domestic market insulated, the state-owned oil companies continued to sell fuel at two-year-old rates till May 15, when prices of petrol and diesel were raised by Rs 3 per litre. The

Course correction: The impact of fuel price hikes needs to be managed

The general concern over price increases is valid. The pressure of higher prices is the hardest on the poorest sections of society

Weekly economy wrap: Gold duty hike, fuel shock test India's economy

India moved to conserve foreign exchange, contain prices and secure energy supplies as the West Asia crisis tested external accounts and growth forecasts

CNG prices increased by Re 1 in Delhi-NCR, second hike in two days

CNG will now cost Rs 80.09 per kg in Delhi and Rs 88.70 per kg in Noida-Ghaziabad after the latest increase

Fuel price hike: Gig workers' union calls 5-hour nationwide strike today

Drivers and delivery partners linked to ride-hailing, food delivery, and quick commerce platforms will suspend services from 12 pm to 5 pm over demands for higher payouts and fuel-linked compensation

Delhi Congress protests against fuel, milk price hikes across capital

The Delhi Congress on Saturday staged protests across the national capital against rising inflation, a day after the BJP-led Centre increased petrol and diesel prices by Rs 3 per litre. The demonstrations were held outside petrol pumps and dairy booths across Delhi under all 258 Block Congress Committees (BCCs), with party workers protesting against the rising prices of fuel and milk. "The failed policies of the Modi government have set petrol, diesel, and milk prices on fire," the party said in a post on X. Several Congress workers from the Chandni Chowk District Congress Committee also held a protest carrying placards over rising fuel prices. The placards bore slogans such as "Expensive diesel, expensive oil, the Modi government has failed" and "Costly diesel and oil have left the public distressed." Protesters alleged that the rising prices of fuel and essential commodities were burdening common people and worsening inflation. Delhi Congress president Devender Yadav also joined