Public-sector oil retailers are projected to lose Rs 45,571 crore on selling petrol, diesel, domestic LPG and kerosene below cost.
Trump's remarks marks one of the most direct rebukes yet from Washington to its allies over their refusal to support US-led military operations in Iran and over the energy crisis triggered by disruptions in the Persian Gulf.
The recurrent increases in fuel prices over the past 10 days are eating into the margins of transporters, who will be forced to pass on the hikes to their customers. This, in turn, is set to make the prices of daily consumables and other goods dearer, affect consumption, and slow economic growth, said transporters and analysts. Freight rates on grand trunk routes have shot up 3-4 per cent month-on-month in the past few days, according to the Indian Foundation of Transport Research & Training (IFTRT).
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
Indian oil-marketing companies (OMCs) have incurred LPG underrecoveries of approximately Rs 22,000 crore between March and May 2026, as domestic cooking gas prices failed to keep pace with surging international rates exacerbated by the West Asia crisis, according to a Crisil report.
The Indian government has restricted industrial, commercial, and institutional users from purchasing petrol and diesel from retail petrol pumps, directing them to bulk sale points instead. This move, which can last up to 90 days, aims to address abnormal demand growth and prevent localised shortages caused by a significant price difference between retail and bulk fuel prices.
India's private sector activity saw a significant recovery in April, driven primarily by robust growth in manufacturing output and sales, following a three-year low in March attributed to the West Asia conflict.
Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
Indian companies recorded their highest profit margins in 21 quarters during Q4FY26, reaching 11.3 per cent, primarily due to significant savings from lower employee costs and reduced interest payments, which offset rising raw material prices.
Airfares to Southeast Asia have surged 25 to 30 per cent, driven by high demand and limited airline seat capacity.
Hitting out at the government, BJP on Wednesday scored a "double century" on price rise and questioned the "silence" of Congress President Sonia Gandhi on the "burning issue".
Sri Lankan President Anura Kumara Dissanayake has announced an economic relief package to mitigate the impact of the West Asia conflict, including fuel price reductions and support from India for petrol and diesel supplies.
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.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
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.
Jewellery majors Titan Company and Kalyan Jewellers reported robust Q4 FY26 results, with Titan's consolidated revenue surging 81 per cent year-on-year, largely propelled by a sixfold increase in bullion and digital gold sales. Despite strong top-line growth, Titan's gross and operating profit margins faced pressure due to the higher share of lower-margin gold products and increased marketing expenditure.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
The Trump administration has announced a temporary authorisation for countries to purchase Russian oil stranded at sea, aiming to stabilise global energy markets amid rising oil prices and tensions with Iran.
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
Reliance Industries Ltd reported a 22 per cent year-on-year decline in consolidated net profit for the June quarter, primarily because the previous year's earnings were inflated by a one-time gain from the sale of its stake in Asian Paints.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
In a unique protest against fuel price hike, West Bengal Chief Minister Mamata Banerjee on Thursday rode pillion on an electric scooter to state secretariat Nabanna.
The jet fuel rate will go up by Rs 104 per kilolitre in Delhi to Rs 32,303, an IOC official said. The increase comes on the back of a 1.8 per cent hike in rates on May 16. On May 1, state-run oil firms marginally reduced the price by one per cent, which had brought the rates in Delhi down to Rs 31,614.51 per kl. In Mumbai, home to the nation's busiest airport, the rate will go up from Rs 33,138 per kl to Rs 33,261 per kl.
IndiGo, Air India, and SpiceJet are opposing the government's directive to offer 60% of seats for free selection, arguing it will lead to increased airfares to compensate for lost revenue.
The match ball from Argentina's 1986 World Cup quarterfinal against England - made famous by Diego Maradona's "Hand of God" goal - is set to go up for auction with a $2.5-million opening bid, Heritage Auctions said.
West Bengal Chief Minister Mamata Banerjee on Friday opposed the fresh hike in fuel prices, saying it will put the common man in great difficulty.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
'We thought everything will be back to normal within one month. Now it's four months and still a final solution is miles away.'
Wholesale price inflation extended upward momentum for the third straight month, at 1.81 per cent in January, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Monday.
Indian oil marketing companies are incurring significant losses, selling petrol at a Rs 14 per litre loss and diesel at Rs 18 per litre, as elevated global crude oil prices, exacerbated by the West Asia crisis, outpace capped retail fuel rates, according to rating agency Icra.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
Wholesale price inflation extended upward momentum for the second straight month, recording at 0.83 per cent in December 2025, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Wednesday. Wholesale Price Index (WPI)-based inflation returned to positive in December, after witnessing a deflationary trend in the previous two months.
Protests were held from coast to coast, with massive marches in major cities and smaller gatherings in suburban and rural areas across both traditionally Republican and Democratic states.
A potential US-Iran peace deal, expected to be signed on June 19, is anticipated to ease geopolitical stress and benefit various sectors, particularly in India, with analysts suggesting investors await finer details before making significant moves.
Opposition MPs in the Rajya Sabha criticised the Modi government's economic policies, citing the LPG crisis, lack of energy security, and concerns over the Economic Stabilisation Fund.
Analysts warn that global markets are significantly underpricing the risk of an oil price shock, with Brent crude potentially soaring to $150 per barrel if the West Asia conflict escalates or damages critical oil and gas infrastructure. This could lead to severe inflation and economic repercussions, particularly for import-dependent nations like India.
Indian equities on Dalal Street declined in early trade on Monday as crude oil prices climbed amid fears of further escalation in the West Asia the war. Track Sensex, Nifty50 movement and key market drivers for Apr 6, 2026.
