Overview
- India’s Petroleum Ministry, which on Monday said there is no proposal to compensate oil marketing companies, left Indian Oil, BPCL and HPCL to absorb losses on petrol, diesel and jet fuel sold below cost.
- Officials cited losses of about ₹20 per litre on petrol and nearly ₹100 on diesel as crude prices climbed after the West Asia conflict and Strait of Hormuz disruptions tightened supplies.
- Only targeted price moves have gone through, with domestic jet fuel up 25% in April, international ATF up a little over 5% on May 1, commercial LPG up by about ₹1,000 per 19‑kg cylinder, and bulk diesel lifted for industrial users.
- Pump prices for petrol, diesel and household LPG remain unchanged to shield consumers from higher living costs, a stance that also pressures retailers that supply roughly 90% of India’s fuel market.
- Analysts and some officials say a retail revision may be near if global prices stay high, with brokerage estimates pointing to possible increases of about ₹25–₹28 per litre to match international benchmarks.