Aviation Turbine Fuel (ATF) prices have more than doubled to a record high, impacting airlines and consumers, while commercial LPG rates also see a significant increase.
Indian benchmark indices Sensex and Nifty experienced a sharp decline in early trading due to escalating tensions in the Middle East, driving crude oil prices higher. Global market bearishness and foreign fund outflows further contributed to investor unease.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
Qatar has halted liquefied natural gas (LNG) production after its facilities came under attack amid the ongoing West Asia conflict, disrupting supplies to India and squeezing feedstock availability for key domestic sectors.
The Indian government has reduced excise duty on petrol and diesel to mitigate the impact of rising global crude prices, triggered by geopolitical tensions in the Middle East. This move aims to provide relief to consumers and oil companies amidst volatile international oil markets.
S&P Global Ratings has increased India's GDP growth forecast for the next fiscal year to 7.1 per cent, citing private consumption, investment, and exports as key drivers. However, the agency also cautioned that the conflict in the Middle East could strain India's fiscal position due to higher energy prices.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
The Ministry of External Affairs (MEA) has confirmed the deaths of six Indian nationals and one missing person amidst the escalating conflict in West Asia, detailing ongoing efforts for repatriation and diplomatic engagement.
Iranian Foreign Minister Seyed Abbas Araghchi on Saturday criticised the United States over its stance on Russian oil, claiming Washington was now "begging" countries across the globe, including India, to purchase Russian crude.
White House Press Secretary Karoline Leavitt on Tuesday said that the United States has not ruled out the option of sending troops on the ground in Iran and that military operations in the Persian Gulf nation would end once the objectives of Operation Epic Fury are achieved.
Foreign investors have withdrawn over Rs 88,000 crore from Indian equities this month, driven by geopolitical tensions, a weak rupee, and concerns about rising crude oil prices.
India has relocated the majority of its students from Tehran due to the escalating conflict in West Asia. The Indian embassy has arranged for their transportation, food, and accommodation outside of Tehran. An advisory remains in place for other Indian nationals in Iran to stay indoors and exercise caution.
India addresses the escalating conflict in West Asia, outlining its diplomatic efforts to ensure energy security, the safety of its citizens, and advocating for a peaceful resolution through dialogue.
India's net oil import bill could rise by $56 billion to $64 billion annually assuming global crude averages $110 to $115 per barrel in FY27.
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
As days turn into weeks and America loses more planes, as the destruction of trillions of dollars worth military assets piles up, and dead bodies of soldiers return in ever greater numbers in coffins, Trump will have to answer some very difficult questions to save his presidency, notes Ambassador M K Bhadrakumar.
Indian eateries are adapting to the LPG crisis by cutting menus, increasing prices, and switching to alternative fuels like coal, as LPG supplies are disrupted due to global events. State authorities are cracking down on hoarding and black marketing of LPG cylinders.
Around one full month of supply is firmly arranged with additional procurement being continuously finalised, and oil companies are successfully delivering over 5 million cylinders every day.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
The government has mandated that cooking gas LPG supply to households will be discontinued if consumers fail to switch to piped natural gas where such connectivity is available, under a new order aimed at accelerating gas network expansion and reducing reliance on a single fuel.
Trump said that Iran's leadership, along with its air defence, Air Force, and Navy are 'gone'.
Israel has for more than two decades and several US presidencies worked to draw the United States into a full-scale war with Iran. Having finally achieved that, the last thing it wants is Trump declaring victory and going home, as he is prone to do. Ali Larijani was the figure most capable of handing Trump a negotiated exit with something to show for it. Without Larijani, the road to an exit gets considerably narrower. Prem Panicker continues his must read daily blog on the Gulf War.
Finance Minister Nirmala Sitharaman announces increased domestic LPG production to offset import disruptions caused by Middle East tensions, alongside assurances of fertiliser availability and the clearing of UPA-era oil bonds.
Pakistan's Prime Minister Shehbaz Sharif has offered to host talks between the US and Iran to help resolve the ongoing conflict in the Middle East, following reports of Pakistan's involvement in backchannel diplomacy.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
It may now be time to question the price India is paying for Israel's disregard of the serious undermining of India's energy security, asserts former foreign secretary Shyam Saran.
An Indian national has reportedly been killed in an attack carried out by Iran using a 'suicide' boat against a US-owned oil tanker near Iraq. The incident has raised concerns about the safety of seafarers in the region.
India continues to face LPG supply challenges for the third consecutive week due to disruptions caused by the West Asia conflict, though panic buying is showing signs of easing. The government is prioritising domestic household supplies and encouraging alternative fuel sources.
A French sailor's use of a fitness app has exposed the location of France's aircraft carrier in the Mediterranean, raising serious security concerns amid rising tensions in the West Asia region, a report from a French newspaper said.
The Indian government has revised its natural gas allocation priorities, placing LPG production alongside CNG and piped cooking gas at the top, due to disruptions in imported gas supplies caused by the conflict in West Asia.
Pakistan's Prime Minister Shehbaz Sharif has offered to mediate between the US and Iran to de-escalate the ongoing conflict in West Asia, following a joint US-Israel attack on Iran. Sharif has been in contact with Saudi Arabia, the UAE, and other nations to promote dialogue and diplomacy.
The IRGC had announced earlier that it was carrying out an intense wave of attacks on US and Israeli positons throughout the region since dawn, using missiles as well as drones.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
Iran on Thursday spelled out three conditions to end the war with Israel and the United States, which entered its thirteenth day today. Taking to X, Iran's President Masoud Pezeshkian said he reaffirmed the country's commitment to peace during talks with leaders of Russia and Pakistan.
The Indian rupee fell to a record low against the US dollar due to rising crude oil prices, foreign institutional investor selling, and weak domestic equity market sentiment.
Petrol diesel price today March 20, 2026: IOCL & HPCL hike premium petrol (XP95, Speed, Power) by 2/litre and industrial diesel by 22/litre. Regular petrol in Delhi 94.77, diesel 87.67 unchanged. Full city-wise rates inside.
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances