petrol price

UAE motorists will face higher fuel costs in May 2026 as petrol prices see another significant increase. This marks the third consecutive monthly hike, driven by global oil market instability and geopolitical tensions. The latest revisions mean higher expenses for daily commutes and businesses reliant on transportation.

Vijayawada witnessed chaotic scenes as motorists rushed to fuel stations Sunday morning, fueled by rumors of impending diesel and petrol shortages. Long queues formed, leading to rationing and some outlets running dry by noon. Panic buying, driven by social media speculation about price hikes due to the West Asia conflict, exacerbated the situation, causing traffic snarls and frustration.

Fuel prices held steady across major Indian cities on Monday, defying volatile global crude oil markets driven by Middle East tensions. Despite Brent crude exceeding $106 per barrel, domestic petrol and diesel rates remained unchanged. This stability, however, is precarious, with potential hikes looming if international oil prices continue their ascent.

The Press Information Bureau's Fact Check unit has debunked viral claims of a significant hike in petrol and diesel prices, stating no such order has been issued. A senior government official confirmed there's no current proposal to increase retail fuel prices, reassuring consumers amidst global oil market volatility. Fuel prices in major cities remain unchanged.

Pakistan admits its vulnerability to global oil shocks, lacking strategic reserves like India, which holds 60-70 days of stock. Islamabad's limited reserves leave it exposed, unlike India's stable prices aided by fiscal space and strategic stockpiles. Pakistan's IMF commitments restrict its ability to offer consumer relief amid soaring crude prices.

Indian markets rallied Tuesday, buoyed by hopes of a US-Iran ceasefire extension and strong economic data. Retail sales exceeded expectations, while corporate earnings from UnitedHealth and Quest Diagnostics boosted sentiment. Despite some tech sector jitters, investor optimism prevailed, pushing indices higher and oil prices lower.

The ministry of petroleum and natural gas has firmly refuted claims of an impending petrol and diesel price hike, labeling such reports as 'fake news' designed to cause public alarm. Asserting India's unique fuel price stability over the past four years, the government highlighted its proactive measures to shield citizens from global energy market volatility and geopolitical impacts.

Consumers in the country are increasingly shifting towards larger vehicles. North America recorded a 30% drop in EV registrations to 121,500 units, marking the sixth consecutive year-on-year decline following the end of a tax credit programme in the United States and proposed changes to emission standards.

India's state-run oil companies are incurring significant losses, estimated at Rs 18 per litre on petrol and Rs 35 on diesel, due to unchanged retail prices amidst volatile global crude oil prices. Despite a government excise duty cut, these firms continue to face mounting financial strain, with potential price hikes anticipated post-state elections.

Pakistan's government reversed a significant petrol price hike after widespread backlash, reducing the price by PKR 80 per litre to PKR 378. This move followed a 43% increase that sparked protests and criticism, with the government now implementing targeted subsidies and austerity measures to ease economic strain.

Pakistan may resort to fuel rationing at petrol pumps if the US-Iran conflict escalates, finance minister Muhammad Aurangzeb warned. While currently managing demand through price adjustments and targeted subsidies, the government acknowledges this approach's limits. Disruptions to oil flows via the Strait of Hormuz, crucial for Pakistan's imports, have already caused significant price hikes and public unrest, forcing policy shifts.

Mohsin Naqvi faced backlash after claiming India was facing fuel shortages, despite Pakistan’s own energy crisis. His remarks came as PSL 2026 matches are held without crowds due to fuel and security issues. With prices rising over 40%, Pakistani people criticised his comments on social nedia, pointing out stable fuel conditions in India and questioning his claims.