Sensex gains over 400 points while Nifty trades above 23,800 amid strong IT sector buying.
Aviation industry sources said some of the airlines were also planning to consolidate their flight schedules, by cutting some flights to certain select destinations. Indian carriers were also focusing on getting their products to a global standard and consolidating their domestic market, the study also pointed out.
With Opposition parties calling for a nationwide strike against the hike in fuel prices, Petroleum Minister Murli Deora on Wednesday justified the decision, saying the increase translated to less than Re 1 per day on domestic LPG and 26-27 paisa a day on kerosene.
Sources said both Mukherjee and Deora were in favour of Rs 2-3 a litre hike in petrol and diesel prices and Rs 25 per cylinder increase in LPG rates.
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.
The Rajya Sabha was adjourned twice while the opposition parties staged a walkout in Lok Sabha on Tuesday, voicing their protest against the increase in the prices of petrol, diesel and cooking gas LPG.
Notwithstanding the demand of the Left parties, Petroleum Minister Mani Shanker Iyar on Friday asserted that there would be "no rollback" of the hike in petro products prices.
She charged the government with profiteering at the expense of the people, saying its duty was to help them in times of crisis and not make profits out of their hard-earned money.
The price of aviation turbine fuel, or jet fuel, in Delhi was hiked by Rs 2,797.41 per kilolitre (kl), or 4.5 per cent, to Rs 65,005.59, according to Indian Oil Corp, the nation's largest oil firm.
BJP leader Mithun Chakraborty has criticised the West Bengal government over high fuel taxes and alleged security lapses, particularly concerning women's safety and border control.
A core group of ministers on Wednesday held inconclusive deliberations on a proposal to raise fuel prices, necessitated by a spike in global crude prices that threatens to spawn an oil import crisis.
In a major decision to bring petroleum products in line with market rates, the government on Friday freed petrol from all pricing controls and hiked diesel prices by Rs 2 a litre.
The campaign for elections to 51 urban local bodies, including four municipal corporations in Himachal Pradesh, concluded on Friday, with key issues including infrastructure, tourism, and fuel prices taking centre stage.
Aviation turbine fuel or jet fuel price was on Wednesday hiked by a steep 9.2 per cent, while that of non-subsidised cooking gas was raised by Rs 21 per cylinder.
The meeting of the group of ministers on fuel prices scheduled for Saturday has been put off, even as the core group of UPA alliance is likely to meet on Monday morning and may discuss the issue. External Affairs Minister Pranab Mukherjee, who heads the GoM on fuel prices, had on January 17 indicated a meeting at 1700 hours today for re-convening the inconclusive GoM meet of that day.
State-owned oil firms on Tuesday hiked jet fuel by 5.5 per cent in sync with rise in global rates.
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.
Within a day of the announcement of the increase in fuel prices by Union government, the electronic-bike manufacturers have witnessed record sales in their bikes and received lot of enquiries for setting up dealers network across the country. "Hike in petrol prices is a positive development for the e-bike industry and we expect it will boost the sales of battery driven bikes by at least 5-10 per cent," Avon Cycles Senior Manager (Marketing), U S Dubey said.
The recent petrol and diesel price hike by the government did not go down well with the common people who expressed their\ndispleasure over this pre-Budget move. The prices were raised by as much as 10 per cent on Wednesday.
The gems and jewellery industry anticipates challenging times following the government's decision to increase gold import duty to 15 per cent, a move that exporters warn could fuel the grey market and heighten smuggling risks.
Pattali Makkal Katchi founder S Ramadoss said that Prime Minister Narendra Modi should meet the expectations of the people that prices will go down if he took over and 'it is the duty of the new government to do that.'
Air India, IndiGo and SpiceJet have told the government that the country's airline industry is under extreme stress and on the verge of "stopping operations", as they sought revision in ATF pricing and financial support.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
As the government announced a Rs 7.50 per litre hike in petrol price from midnight, anger was written on the faces of many people.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
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.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
A prolonged supply shock can transmit to lower incomes, and dampen confidence and sentiment, warns Aditi Nayar, chief economist, head-research and outreach, ICRA.
Union Petroleum Minister disclosed the decision on fuel prices will be taken on Jan 17, in the GoM meet.
The empowered group of ministers headed by Finance Minister Pranab Mukherjee is being convened soon to discuss a combination of a price hike and a reduction in government duties.
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).
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.
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.
State oil firms on Wednesday raised jet fuel (aviation turbine fuel) price by 5 per cent in line with the spike in international oil prices, which have touched a record $71 US a barrel.
The government may defer raising the price of fuels to early next week, after the two-day national executive meeting of the Bharatiya Janata Party, which begins on Sunday. Such a move would provide "ammunition" to the main opposition party on a platter, according to an informed source.
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.
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