Overview
- India’s fuel pricing steps, announced Wednesday, lift commercial LPG by Rs 195.50 per 19‑kg cylinder and hold household LPG plus retail petrol and diesel steady, while limiting the Aviation Turbine Fuel increase for domestic flights to 25%.
- The oil ministry said the closure of the Strait of Hormuz created an extraordinary surge in global benchmarks, and that domestic ATF was on track to more than double before the cap, with international routes paying the full increase.
- PSU oil marketers are absorbing large losses at current pumpside prices, including under‑recoveries of about Rs 24.40 per litre on petrol, nearly Rs 105 on diesel, and roughly Rs 380 per domestic LPG cylinder, with cumulative LPG losses projected at Rs 40,484 crore by end‑May.
- Urea output, which dropped to about 60% of capacity when LNG feedstock tightened, has rebounded toward 80% after regular spot LNG purchases and wider sourcing, with officials citing adequate national stocks even as some regions report delivery delays.
- New shipping data for March indicate refiners shifted toward middle‑distillates, with diesel exports up around 20% and petrol exports down about 33% as stronger margins pulled more barrels into diesel and jet fuel.