Petrol Prices

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

Petrol, diesel sales surge in early July on delayed monsoon demand

Petrol and diesel sales by India's three state-run fuel retailers rose sharply in the first half of July, helped by below-normal monsoon rainfall that boosted fuel demand from farmers and motorists, preliminary sales data showed on Thursday. Petrol sales by Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) climbed 22.9 per cent to 1.63 million tonnes during July 1-15, compared with 1.33 million tonnes in the corresponding period a year earlier. The volume was also 26.7 per cent higher than 1.29 million tonnes sold during the first half of July 2024 and 38.6 per cent above the level recorded in the same period of 2023. Compared with the first half of June, however, petrol sales fell 4.4 per cent from 1.71 million tonnes. Diesel sales, a key indicator of economic activity in India, rose 20.9 per cent year-on-year to 3.46 million tonnes in the first fortnight of July from 2.87 million tonnes a year earlier. The volume was 18.4 per cent hig

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

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

OMCs' fuel marketing margins back above pre-conflict levels: Report

Profitability at state-run oil marketing companies (OMCs) is set to improve as falling crude oil prices lift fuel marketing margins, although rising debt levels and uncertainty over fuel taxes could limit the sector's longer-term earnings outlook, according to a JP Morgan report. Composite margins on petrol and diesel sales at state-run refiners and fuel retailers are now above levels seen before the recent Middle East conflict, with gains driven by lower crude prices and reduced central excise duties, it said. The start of the West Asia conflict triggered a surge in global oil prices but retail pump rates in India remained steady for large parts and rising only by a fraction of the required increase. Even after the Rs 7.50 per litre increase in petrol and diesel prices in May, retail pump rates were lower than the cost. "Our estimates for OMC composite margins on petrol and diesel are now higher than pre-war levels. Losses on LPG are still elevated, but should also start to track o

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 ..

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

Half of older petrol vehicle owners want E0, E10 fuel back: Survey

As India deepens ethanol blending, a new survey suggests many owners of older petrol vehicles are grappling with higher running costs and want lower-ethanol alternatives

Govt warns industrial consumers against shifting to retail fuel outlets

State-run OMCs are currently absorbing losses of around Rs 550 crore per day on sale of petrol, diesel and domestic LPG

Petrol, diesel prices raised for fourth time in less than two weeks

Fuel prices were raised by ₹2.61-2.71 per litre as oil marketing companies continue to face mounting losses amid elevated global crude oil prices

Datanomics: Petrol CPI likely to go past 100, first in new series

Recent fuel price hikes likely to push petrol inflation above 2024 base-year levels after prolonged period of muted CPI readings

50% see rise in transport, service costs after fuel hikes, shows survey

Since May 15, fuel retailers have raised petrol by ₹7.38/litre and diesel by ₹7.52/litre as surging global crude oil prices and mounting losses forced repeated revisions

'Mehangai manav' strikes again: Rahul Gandhi slams PM Modi on fuel hike

Congress leader Rahul Gandhi on Monday launched a scathing attack on Prime Minister Narendra Modi over the latest fuel hike, saying 'mehangai manav' has struck again and he has just one job of making promises during elections and attacking people's pockets at other times. Petrol and diesel prices were raised by Rs 2.61-2.71 per litre on Monday, marking the fourth increase in less than two weeks as state-owned fuel retailers continued to pass on rising international oil prices to consumers. "Mehangai manav' Modi strikes again. He raises petrol and diesel prices in installments - ensuring that your pockets are quietly picked, bit by bit," Gandhi said in his post in Hindi on X. "For months, I had been warning of an impending economic storm. But Modi Ji, true to form, was busy with elections at the time and the moment the elections ended, he hiked the prices of petrol and diesel by Rs 8," the Leader of Opposition in the Lok Sabha said. And, this upward trend will only continue, he ...

Petrol, diesel prices raised by up to ₹2.71; hike tops ₹7.5 within 2 weeks

Petrol and diesel prices were raised by Rs 2.61-2.71 per litre on Monday, marking the fourth increase in less than two weeks, as state-owned firms continued to pass on rising international prices to consumers. With the latest revision, cumulative increases in petrol and diesel prices are almost Rs 7.5 per litre since fuel rate revision resumed on May 15 after a prolonged freeze. Petrol price was increased by Rs 2.61 a litre to Rs 102.12 per litre in Delhi from Rs 99.51. Diesel rates have been increased by Rs 2.71 to Rs 95.20 per litre from Rs 92.49, industry sources said. The hikes come amid elevated global crude oil prices and a weakening rupee, which have increased pressure on oil marketing companies' import costs.

Third retail fuel price hike in 10 days; losses of OMCs narrow further

Oil marketing companies have raised fuel prices again amid elevated crude prices, while under-recoveries narrow as West Asia tensions keep energy costs high

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

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

Fuel price rise impact: Consumption stocks may bear the brunt, say analysts

While companies have started to pass input cost rise to consumers, inflation, according to G Chokkalingam, founder and head of research at Equinomics Research has not become a major issue yet.