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04-04-2026
Bureau Report
NEW DELHI: Indian fuel retailers raised jet fuel and commercial liquefied petroleum gas (LPG) prices on Wednesday, following a sharp spike in global prices due to the US-Israeli war on Iran.
India, the world’s second-largest LPG importer, is battling its worst gas crisis in decades, with the government cutting supplies for industries to shield households from cooking gas shortages.
Domestic fuel retailers have raised prices of aviation turbine fuel by 8.6% to 104,927 rupees per kiloliter and commercial LPG by 10.4% to 2,078.50 rupees per 19-kilogram cylinder in capital Delhi, the Indian Oil Corporation’s website showed.
In order to insulate domestic travel costs from the substantial increase in international prices, state-owned oil marketing companies, in consultation with the Ministry of Civil Aviation, have passed only a “partial and staggered increase” to airlines, the ministry said in a post on social media.
The price increase in commercial cylinders is due to a 44% surge in the Middle Eastern benchmark Saudi Contract Price, as 20% to 30% of global LPG supplies are stuck in Strait of Hormuz, the ministry said.
The country consumed 33.15 million metric tons of LPG, or cooking gas, last year, with imports accounting for about 60% of the total. About 90% of those imports came from the Middle East.
The consumption of commercial cylinders, used by industries and hotels, is less than 10% of the total LPG consumed in the country and the prices are revised on a monthly basis, the ministry said.
The 14.2-kg domestic gas cylinder prices have been kept unchanged to protect domestic customers from the price surge, the ministry added.
To tackle the LPG crisis, India has increased domestic daily LPG production by 40% to 50,000 metric tons against a requirement of 80,000 tons and Indian companies have secured 800,000 tons of LPG cargoes from the US, Russia, Australia and other countries.
Last week, India has secured crude oil supplies for the next 60 days, ensuring stable fuel supplies in the country despite disruption in shipments from the Middle East, the oil ministry said in a statement on Thursday.
India, the world’s third biggest oil consumer and importer, was buying over 40% of its oil imports from the Middle East. Those supplies are disrupted due to the US-Israeli war on Iran.
Higher availability of crude in global markets, mainly from the Western hemisphere, has helped offset the shortfall, the government said.
Taking advantage of a temporary US waiver, Indian refiners have also ramped up purchases of Russian crude, securing millions of barrels to fill the supply gap.
“Despite the situation at the Strait of Hormuz, India is today receiving more crude oil from its 41-plus suppliers across the world than what was previously arriving through the Strait,” the ministry said.
As a net exporter of petroleum products, India’s domestic availability of petrol and diesel remains structurally secure, the government said.
The world’s fourth-largest refiner has oil and fuel stocks sufficient to meet 60 days of demand, against a total storage capacity of 74 days, it added.
“Nearly two months of steady supply is available for every Indian citizen, regardless of what happens globally. The next two months of crude procurement have also been secured,” it added.
India has asked refiners to maximize production of liquefied petroleum gas, used as cooking fuel, as the nation was buying 90% of its LPG imports from the Middle East.
