A major fire near the main unit of the newly built Rajasthan refinery of HPCL has postponed the inauguration by Prime Minister Narendra Modi. The fire, which broke out near the crude distillation unit, was doused in about two hours with no reported casualties.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
Delhi Police have arrested a 61-year-old man and busted an illegal LPG refilling racket in southwest Delhi's Dabri area, seizing 17 cylinders.
Escalating geopolitical tensions in West Asia are beginning to disrupt India's automotive supply chain, leading to rising commodity prices, logistics bottlenecks, material shortages, and pressure on consumer demand, with two-wheeler makers already raising prices.
India's leading passenger vehicle manufacturers are significantly increasing investments and factory capacities, alongside planning major product launches for FY27, driven by strong confidence in sustained domestic demand growth despite global geopolitical tensions and supply chain risks.
India has no plans to ration fuel supplies despite ongoing disruptions in global energy markets, according to a top oil ministry official. The country has maintained adequate inventories of crude products and LPG while diversifying imports to manage supply risks.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
'If 5% of the total revenue was spent on LPG (pre-war), it is now expected to double. The overall food cost in restaurants is expected to rise by 4-6%.'
Uttar Pradesh authorities have launched a statewide crackdown on black marketing of LPG and other essential commodities, resulting in FIRs against distributors and arrests.
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.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
India's manufacturing sector experienced a mild recovery in April, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) rising to 54.7 from 53.9 in March. However, inflationary pressures intensified, with input costs increasing at the fastest pace since August 2022, largely attributed to the Middle East conflict.
Nath's comments came amid the Congress party's continuous attack on Centre for the recent hike in commercial LPG cylinders and the Aviation Turbine Fuel (ATF).
US President Donald Trump's call to Prime Minister Narendra Modi signals a concerted effort to reset strained Washington-New Delhi ties, with a focus on 'big-ticket' energy and trade deals, including increased Indian imports of US LNG and LPG, and potential cooperation on small modular reactors.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.
Indian companies, however, are now paying a premium of $6-$7 a barrel for Russian oil, compared with discounts of $8-$10 a barrel before the start of the conflict.
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
Elevated global crude oil and natural gas prices, driven by geopolitical developments in West Asia, could significantly influence the Government of India's fiscal position for 2026-27, according to a report by ratings agency Icra.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Reliance Industries is expected to report largely flat performance for its fourth quarter (January-March, Q4) of FY26, with weakness in the oil-to-chemicals (O2C) business and muted retail growth likely to offset steady gains in the telecommunications segment.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
Bajaj Auto is set to launch new Pulsar motorcycles in the 125cc and 150-250cc segments in Q2 FY27, aiming to capitalise on the upcoming festival season surge. This move follows strong growth in the 150cc-plus segment, where refreshed Pulsar models already account for over 50 per cent of Bajaj's sales.
The Indian government is actively developing a policy for flex-fuel vehicle adoption and aiming for 100 per cent ethanol blending in petrol to enhance energy self-reliance, particularly in light of supply disruptions from the West Asia conflict.
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.
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.
India and New Zealand have signed a comprehensive Free Trade Agreement (FTA) aimed at significantly boosting bilateral commerce and investments, providing duty-free access for 100 per cent of India's exports to New Zealand and securing duty-free inputs for India's manufacturing sector.
A US-sanctioned tanker carrying Iranian crude oil is heading to India, marking the resumption of oil imports from Iran after seven years.
India's sugar consumption is projected to fall by nearly 400,000 tonnes in the 2025-26 season, primarily due to the ongoing liquefied petroleum gas (LPG) shortage exacerbated by the West Asia conflict and unseasonably cool weather.
The District Supply Department in Nanded conducted a raid on a residence, uncovering an illegal stockpile of LPG cylinders and initiating legal action against the individual involved.
'...especially pressure on the rupee, the current account deficit, and foreign exchange outflows.' 'The key question over the next several months is whether the government can prevent external turbulence from feeding into domestic economic pessimism.'
The United Arab Emirates has announced its decision to withdraw from OPEC and the wider OPEC+ alliance, effective May 1, 2026, signalling a significant policy-driven evolution in its long-term energy strategy aimed at aligning with domestic economic goals and increased production investment.
An India-flagged LPG tanker, Jag Vikram, has successfully crossed the Strait of Hormuz following a temporary ceasefire between the United States and Iran, marking a significant development for India's energy security.
The United Arab Emirates has announced its decision to withdraw from OPEC and the wider OPEC+ alliance, effective May 1, 2026, signalling a significant policy-driven evolution in its long-term energy strategy aimed at aligning with domestic economic goals and increased production investment.
'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.'
An India-flagged vessel carrying 15,400 tonnes of liquefied petroleum gas (LPG) successfully crossed the Strait of Hormuz and arrived at Jawaharlal Nehru Port Authority (JNPA), demonstrating the resilience of maritime operations amid geopolitical tensions in West Asia.
S&P Global Ratings warns that Indian oil marketing companies like IOC, BPCL, and HPCL may face reduced profit margins due to rising crude oil prices and government pressure to maintain stable retail prices.
A key accused in the double murder case at a Hindustan Petroleum Corporation Limited (HPCL) ethanol plant in Budaun, Uttar Pradesh, has surrendered to authorities along with his brother.
India's fertiliser subsidy bill for the current financial year (FY27) is projected to increase by approximately 20% due to surging global prices, primarily driven by the West Asia crisis, a senior official confirmed. Despite this, retail prices for urea and di-ammonium phosphate (DAP) will remain unchanged, ensuring adequate supply for the kharif season.
