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.
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).
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.
He also warned the Gulf countries, which are allowing the US to launch an attack from their soil, vowing to "punish" the regional partners.
The Kremlin has announced it will not disclose data on crude oil exports to India, citing concerns about 'ill-wishers'. This decision follows reports of increased Russian oil supplies to India and China amid geopolitical tensions.
Iran has issued a defiant response to United States President Donald Trump's claims regarding the conclusion of hostilities, asserting that it alone will 'determine' the end of military actions against American and Israel targets.
Citizens in the city of Ilam formed a human chain on Tuesday to demonstrate their defiance against recent threats from US President Donald Trump.
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian to discuss the escalating tensions in West Asia, emphasising the safety of Indian nationals and the need for regional stability through dialogue and diplomacy.
United States President Donald Trump warned Iran of potential strikes on its infrastructure, including bridges and electric power plants, saying the US military 'hasn't even started destroying what's left in Iran'.
Pakistan's Foreign Office has refuted media reports suggesting that its efforts to facilitate peace talks between the US and Iran have stalled, calling the reports baseless and speculative.
...is a way out, notes Prem Panicker in his must read blog on the Iran War. What the indefinite extension produces is a prolonged condition of not-war-not-peace, in which oil markets cannot stabilise, Asian refineries cannot plan, European governments cannot stop subsidising consumption they cannot afford, and the next flashpoint -- a seized tanker, a miscalculated drone strike, a Truth Social post that claims too much -- is one news cycle away.
America's population and its media and its democratic structures seem fine with this, which is why Trump continues as he does, asserts Aakar Patel.
India has officially refuted claims that Elon Musk was involved in a recent phone call between Prime Minister Narendra Modi and President Donald Trump.
Let us start with ourselves. If we can reduce our LPG consumption by half, the problem is solved. Reduce wastage. Alter eating styles. Diversify methods of food preparation, suggests Vice Admiral Biswajit Dasgupta (retd).
'As result, Netanyahu 'convinced' Trump to go to war with the help of overoptimistic Israeli intelligence assessments, essentially explaining to him that they only need to bomb Iran for 3-4 days, and the regime would then collapse.' 'Rather unsurprisingly, Netanyahu is ever since blaming his own intel service for the entire operation failing.'
Citizens and residents across the Gulf region are preparing for Eid amidst regional conflict, impacting festivities and daily life.
Iran's supreme leader Mojtaba Khamenei on Wednesday extolled the sacrifice and martyrdom of senior Iranian armed forces leaders as the conflict in West Asia enters into its second month.
US President Donald Trump hinted at the possibility of the US seizing Iran's key oil export hub on Kharg Island, suggesting it could be done with minimal resistance. He also expressed his desire to take Iran's oil resources, while indicating potential negotiations and a possible deal with Iran.
Iranian representatives have conveyed to the Trump administration that they are unwilling to resume talks with Steve Witkoff and Jared Kushner, preferring instead to engage with Vice President J D Vance.
Srivastava warned that continued bombing of Iran by the US and Israel could severely undermine any prospects of reopening critical maritime routes through negotiation with Tehran.
India's plans to ration the consumption of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) - in response to reduction in their import owing to war in West Asia - may fall short of what is needed to meet domestic needs.
The call came before Iran's new supreme leader Mojtaba Khamenei vowed vengeance and urged citizens to continue their fight against the attacks by US and Israel.
To be sure, Trump is furious, as the trajectory of the war is in a state of Zugzwang, as chess players call it. Trump and Netanyahu stare at two choices -- retreat in humiliation and concede Tehran's demands -- recognition of its rights, reparations, and binding security guarantees -- or perish in a quagmire, points out Ambassador M K Bhadrakumar.
Qatar, India's largest supplier of imported natural gas, has declared force majeure on deliveries following a halt in production in the wake of an Iranian drone strike -- a disruption that has led to a cut in supplies to Indian industry by up to 40 per cent, sources said.
In a statement issued by Iran's consulate in Mumbai, it said, "At present, Iran essentially has no floating crude or surplus available for international markets. The US Treasury Secretary's remarks appear aimed at reassuring buyers and managing market sentiment."
The Indian government has reassured citizens that the country has sufficient reserves of petrol, diesel, and LPG, and that refineries are operating at high capacity despite global supply chain disruptions. They have urged citizens to avoid panic buying and hoarding.
As the negotiations continued, the Iranian government said on social media that "talks between Iran and the US in Islamabad entered the expert-level stage as economic, military, legal, and nuclear committees joined in".
Suzuki Motorcycle India Ltd (SMIPL) has revised its domestic two-wheeler sales growth estimate for FY27 downwards from 7-8 per cent, citing rising commodity costs due to the ongoing West Asia conflict and its impact on consumer affordability.
The OECD projects India's GDP to grow at 7.6% in the current fiscal year and 6.1% in 2026-27, despite global economic challenges stemming from the Middle East conflict and energy price volatility.
India has refuted claims of payment issues hindering crude oil imports from Iran, clarifying that refiners have the flexibility to source oil from various global suppliers. The Ministry of Petroleum and Natural Gas addressed reports of a tanker rerouting to China, emphasising standard industry practices and secured oil requirements.
'I suspect that Bangladesh being given permission stuck in India's official craw, and this story was an attempt to balance the scales by giving the impression that a similar waiver had been given to India as well.'
The Indian government has refuted claims of fuel shortages, asserting that the country possesses approximately 60 days of fuel stock cover and that all petrol pumps are adequately stocked and operating normally.
It is impossible to discuss Asha Bhosle without mentioning the word 'versatility', notes Dinesh Raheja.
Prime Minister Narendra Modi addresses the Rajya Sabha, detailing India's strategies to navigate the global energy crisis sparked by the West Asia conflict, including securing diverse energy sources and expanding strategic oil reserves.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
Goldman Sachs has materially lowered its earnings growth forecast for Indian companies by a cumulative 9 percentage points over the next two years.
The Indian rupee weakened against the US dollar due to a strengthening dollar, high crude oil prices, and foreign fund outflows amid geopolitical uncertainties.
Donald Trump claims a senior defence official urged military action against Iran, revealing escalating tensions and ongoing negotiations in the Middle East.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
