Hike In Fuel Prices Likely In Future As OMC Losses Mount
1 May 2026 7:15 PM IST1 May 2026 7:15 PM IST
Government sources said the possibility of a petrol and diesel price hike in the near future is not ruled out
Representational Image. (Source:DC)
New Delhi: Sources have indicated that a future increase in petrol and diesel prices cannot be ruled out, as losses mount due to a prolonged freeze in retail rates despite rising global crude prices.
State-owned oil firms said the decision to keep domestic fuel prices unchanged would provide relief to consumers and domestic airlines, which had flagged financial stress due to rising fuel costs.
In a statement, Indian Oil Corporation said retail prices of petrol, diesel and domestic LPG cylinders remained unchanged, insulating households from global price volatility. It added that price revisions were limited to select industrial fuels, which account for a smaller share of consumption and are subject to periodic adjustments based on international rates.
( Source : Deccan Chronicle )
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