Civil Aviation Minister K Rammohan Naidu announced that public sector oil marketing companies will implement a partial and staggered increase in jet fuel prices for domestic airlines, aiming to protect passengers from steep fare hikes.
The CII feels the 20-year scheme was introduced to boost domestic industry and provide a platform to Indian industry to compete with their foreign counterparts.
Delhi must now purge the delusional hopes of being a 'counterweight' to China in the US calculus, argues Ambassador M K Bhadrakumar.
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.
OMCs are currently incurring daily under-recovery of Rs 230 crore.
India has expressed strong concern over the targeting of commercial shipping in the Strait of Hormuz during the West Asia conflict, urging for the restoration of unimpeded navigation and global commerce.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
The tanker reportedly switched off its Automatic Identification System (AIS) transponder while navigating the high-risk stretch of the strait and reappeared on tracking systems on March 9.
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
Based on figures currently listed on the ministry of external affairs web site, a large number of Indians reside across West Asia.
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.
Chief negotiators from India and the US are set to begin three-day talks in Washington to recalibrate the bilateral trade agreement (BTA) framework, following significant changes in the US tariff landscape, including a new 10 per cent tariff imposed on all countries.
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
An Indian-flagged LPG vessel successfully transited the Strait of Hormuz, reducing the number of Indian ships stranded in the Persian Gulf. India is in talks with Iran to ensure safe passage for its tankers, and Indian refiners continue to purchase crude oil and LPG from Iran despite regional tensions.
The government has introduced a mandatory 25-day gap between LPG cylinder bookings due to supply concerns arising from global disruptions and tensions in the Strait of Hormuz. This measure aims to prevent hoarding and prioritise essential non-domestic sectors, while domestic LPG production is being increased to mitigate shortages.
India has condemned the escalating attacks on commercial shipping in West Asia, particularly after a Thai-flagged vessel en route to India's Kandla Port was targeted in the Strait of Hormuz. The attacks have disrupted global oil and gas supplies, impacting India's energy imports.
The Indian government has allocated an additional 40,000 kilolitres of kerosene to states as an alternative fuel to LPG, amid the ongoing crisis in West Asia. The government assures a comfortable crude oil supply situation in the country.
Hundreds of Indian seafarers are stranded on vessels carrying crude oil, LPG, and LNG in the Persian Gulf due to the ongoing conflict in the Middle East, causing disruptions to India's energy supplies.
After the Israeli attack on Iran's South Pars Gas Field on Wednesday night, in retaliation, Iran struck Qatar's Ras Laffan Industrial City, resulting in extensive damage, as per the country's Ministry of Defence.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
Two more Indian-flagged LPG tankers have begun their journey from the Persian Gulf, navigating the Strait of Hormuz amidst regional conflict, following disruptions caused by recent tensions in the Middle East.
India and the US have reported positive progress in recent trade talks in Washington, agreeing to maintain engagement to finalise a bilateral trade agreement, which now requires recalibration following new US tariffs.
India is in communication with Iranian officials to ensure the safety and secure passage of its ships through the Strait of Hormuz, following recent firing incidents involving Indian vessels.
US President Donald Trump has indefinitely extended the ceasefire with Iran at the request of Pakistan, aiming to allow Tehran's leadership time to form a unified proposal to end the seven-week war.
A senior government official confirms that Indian vessels do not require permission to navigate the Strait of Hormuz, despite regional tensions. Several Indian ships, including LPG tankers, have safely crossed the strait, ensuring continued supply of essential commodities to India.
Despite ongoing tensions in West Asia, the successful arrival of the LPG carrier 'Nanda Devi' in Gujarat ensures a steady supply of liquefied petroleum gas to India, highlighting the country's efforts to secure its energy needs.
Amid rising tensions in West Asia, China is urging all parties to cease military operations, following Trump's appeal for help in securing the Strait of Hormuz.
The Iranian Foreign Ministry has stated that Tehran currently has no plans for a subsequent round of negotiations with the United States, according to the state media Tasnim news agency. This announcement comes as international mediators had hoped for a follow-up to the Islamabad talks before the looming ceasefire deadline.
"For 2010-11 and beyond, the Kirit Parikh report will be the benchmark. The report is being studied.These decisions are politically sensitive issues and have to be sustained over a period of time," Petroleum Secretary S Sundareshan told Business Standard. "It is impossible to insulate the Indian consumer against the movement in international oil prices."
24 Indian-flagged vessels with 677 Indian seafarers were currently located west of the Strait of Hormuz, and four vessels with 101 Indian seafarers were stationed east of the strategic waterway.
This sharp Iranian response came after a series of uncompromising remarks from the US president.
The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
Two Indian ships carrying liquified petroleum gas (LPG) from the Gulf countries crossed the Strait of Hormuz early on Saturday morning, raising the number of Indian vessels safely passing through the war-hit, narrow shipping lane to three.
China and Pakistan have jointly proposed a five-point peace plan to address the ongoing conflict in West Asia, focusing on de-escalation and safe passage through the Strait of Hormuz.
The Ministry of External Affairs informed a parliamentary committee that nearly 1,000 Indians remain in Iran amidst the West Asia conflict, and 23,000 students in the Gulf region missed CBSE exams due to the turmoil.
The ministry of petroleum and natural gas on Friday reiterated that India has sufficient stock of crude oil, petrol and diesel, while ensuring an uninterrupted supply of LNG and LPG despite disruptions caused by the ongoing West Asia conflict.
The official statement highlighted that these "blatant Iranian attacks" have also targeted members of the Gulf Cooperation Council (GCC) and several other Arab and Islamic nations.
India imports nearly 60 percent of its LPG, with most cargo previously coming through the Strait of Hormuz, now closed for commercial shipping.
