Page 3 - Fuel Prices

Fuel price hike shows global oil stress; Rupee seen in ₹96-98 range in FY27

India raised petrol and diesel prices for the first time since 2022 as global crude prices stayed elevated. Here's how the government, OMCs and consumers are sharing the oil shock

OMCs hike petrol, diesel prices in four metros amid West Asia crisis

Petrol in the national capital will now cost ₹97.77 per litre, up from ₹94.77, while diesel will be priced at ₹90.67 per litre, compared with ₹87.67 earlier

OMCs bleed ₹30,000 crore a month: How long can India hold down fuel prices?

India is shielding consumers from rising global oil prices, but OMC losses are surging. How long can fuel prices stay frozen before fiscal pressure forces tough decisions?

Fuel prices may rise if West Asia war drags on: RBI Guv Sanjay Malhotra

His remarks came after Prime Minister Narendra Modi urged voluntary austerity, including cutting down on petrol and diesel use and putting off gold purchases, to preserve foreign exchange reserves

Under-recovery of ₹30K crore per month on LPG and fuel sales: Govt

State-run oil marketing companies are facing mounting under-recoveries as retail fuel prices remain largely unchanged despite crude oil hovering around $100 a barrel

Govt has no proposal for financial support to state-run fuel retailers

Indian state fuel retailers have raised prices for liquefied petroleum gas for industrial customers and jet fuel rates for foreign carriers

Airlines scramble to help stranded Spirit flyers after carrier collapses

Spirit Airlines ceased operations on Saturday following a doubling in jet fuel prices due to Iran war

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