petrol price

India has successfully navigated the Middle East crisis, ensuring stable fuel supplies and uninterrupted maritime operations. Despite global price surges, consumers are shielded through excise duty cuts and increased domestic production. State-run oil companies are absorbing significant daily losses to maintain current prices, while Indian seafarers in the Gulf remain safe and maritime operations at Indian ports are normal.

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.

PM Modi has called on citizens to adopt measures aimed at conserving foreign exchange, as the surge in oil prices triggered by the Iran conflict has intensified pressure on the rupee and strained India’s foreign exchange reserves.

US inflation surged in April, reaching a three-year high driven by escalating fuel costs linked to the Iran-US conflict. This rise complicates the Federal Reserve's interest rate decisions, as petrol prices have significantly increased, impacting household budgets and raising concerns about broader economic fallout.

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.

India assures stable fuel supplies despite global disruptions and rising crude prices. However, unchanged domestic rates are causing significant losses for oil marketing companies, leading to a pressing question about potential price hikes. The government faces a fiscal burden from absorbing price shocks through tax cuts.

Cooking gas prices remain unchanged

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.

India's state-run oil companies are absorbing nearly Rs 30,000 crore in monthly losses to maintain stable petrol, diesel, and LPG prices amidst soaring global energy costs. This financial burden arises from crude oil price surges and supply disruptions in West Asia, with the government prioritizing consumer protection.

Soaring crude oil prices, averaging $105.4 a barrel, are straining oil companies' finances as they sell fuel below cost. Despite government excise duty cuts, losses are unsustainable. Experts suggest gradual price hikes and innovative strategies to manage the transition to renewables while supporting companies' investments and the macroeconomy.

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.

India is the only major oil importing country to have not raised prices through the West Asia crisis. With polls now over, the government may have no choice but to pass the cost of rising crude to to the consumer

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.