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.
Government sources indicate a potential increase in petrol and diesel prices due to rising global crude oil costs and losses incurred from a prolonged freeze on retail rates.
US President Donald Trump has threatened to target Iran's civilian energy infrastructure, including power plants, oil wells and Kharg Island, if Tehran does not reopen the Strait of Hormuz.
Indian stock market indices Sensex and Nifty closed nearly 1 per cent higher, marking their third consecutive day of gains, supported by a slight decrease in crude oil prices and positive global market trends.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
Small- and midcap stocks have delivered their biggest monthly rally in 12 years, but rising oil prices and global tensions could make the road ahead volatile.
A senior government official asserts India's independence in purchasing Russian oil, stating that US sanctions waivers merely remove friction but do not dictate India's energy policy. The official highlights India's commitment to energy security and affordability for its citizens.
Indian equity markets experienced a significant downturn, with the Sensex and Nifty plummeting due to rising crude oil prices, geopolitical tensions in West Asia, and continuous foreign fund outflows.
'... with the rest split between mid and smallcaps, as valuations are becoming more attractive across segments.'
The petroleum ministry on Friday reaffirmed the government's commitment to maintaining stable petrol and diesel prices, despite India's high dependence on imports.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
Amul and Mother Dairy, India's largest dairy product retailers, have increased milk prices by Rs 2 per litre, marking the second such hike in 13 months. This move is expected to intensify inflationary pressures, already fuelled by global conflicts, and will impact household budgets across the country.
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
State-owned Bharat Petroleum Corporation Ltd (BPCL) is willing to dilute a 30-40 per cent stake in its upcoming greenfield refinery in Andhra Pradesh, with Gulf energy major Saudi Aramco and upstream player Oil India Ltd (OIL) likely to join as partners, a senior BPCL executive said.
Indian benchmark equity indices experienced a significant downturn, with the Sensex plummeting over 800 points and the Nifty falling sharply, driven by rising crude oil prices, geopolitical tensions, and foreign capital outflows.
Hybrid mutual fund schemes attracted significant inflows of Rs 1.55 lakh crore in FY26, a 29 per cent increase, as investors increasingly opted for diversified investment strategies to navigate volatile market conditions and geopolitical tensions.
Indian stock market indices Sensex and Nifty experienced a significant decline, driven by rising crude oil prices, sustained foreign fund outflows, and selling pressure in major bank stocks.
Elon Musk, already the world's richest person, may soon become the first trillionaire as his space and AI company, SpaceX, prepares for a public listing. The IPO is expected to be the largest ever, surpassing Aramco's 2020 listing, but recent filings reveal a challenging financial picture for SpaceX.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
'You set up your SIPs and you do not touch them. Not during COVID, not during a war scare, not when your neighbour tells you the market is finished. You let the noise pass over you.' 'The beauty of this approach is that it does not require courage or conviction in the moment. It just requires inertia -- keep the SIP running and do not look at your portfolio too often.'
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
Donald Trump defends the recent surge in global oil prices, arguing it's a necessary short-term cost to eliminate Iran's nuclear threat and ensure global security.
Indian benchmark equity indices, Sensex and Nifty, snapped a three-day rally, tumbling nearly 1 per cent due to heavy selling in IT stocks, a jump in crude oil prices, foreign fund outflows, and fears of prolonged instability in West Asia.
Indian equity benchmarks Sensex and Nifty surged nearly 1 per cent, driven by strong earnings reports from FMCG and auto sectors, alongside a rally in Asian markets and signs of de-escalation in geopolitical tensions.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
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.
Indian benchmark indices, Sensex and Nifty, ended lower in choppy trade, with the Sensex declining 114 points, as investors reacted to unabated foreign fund outflows and rising geopolitical uncertainties.
India's exports recorded a 13.78 per cent increase to USD 43.56 billion in April, marking the highest monthly outbound shipments in over four years, primarily driven by petroleum products. However, the trade deficit widened to a three-month high of USD 28.38 billion due to a 10 per cent rise in imports.
Iranian military spokesperson said that stability in the region would be ensured only by the strength of Iran's armed forces and warned that energy and oil markets would not return to previous levels unless this reality was acknowledged.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
Indian stock market benchmark indices Sensex and Nifty experienced a significant decline, driven by escalating tensions in the Middle East and rising crude oil prices.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
United States President Donald Trump has said that India's Reliance Industries will make an investment in a new oil refinery being opened in Texas, thanking the company and 'our partners in India' for the deal.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
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.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances