Brent crude oil prices have reached $108 per barrel. OMCs are currently losing ₹24 per litre on petrol and ₹30 per litre on diesel. The government previously reduced excise duty by ₹10 per litre, resulting in a revenue loss of ₹1.7 lakh crore annually.

LPG consumption trends:

• LPG consumption in India decreased by 16.16% in April 2026.
• LPG consumption fell to 2.2 million tonnes in April 2026.
• The average price of a 19-kg LPG cylinder in Delhi has reached ₹3,071.50.

Officials state that OMCs are facing significant financial pressure due to rising crude oil prices. A senior official remarked, “We cannot keep prices unchanged when there are supply issues. At some point, we have to make adjustments according to market conditions.”

The government believes that a price adjustment is unavoidable due to the financial strain on OMCs. The next ruling is expected soon after the election results.

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Retail fuel prices have been frozen since 2022. State-owned fuel retailers are facing losses of about Rs 20 per litre on petrol and Rs 100 per litre on diesel. This situation has prompted oil marketing companies to absorb these losses.

The increase is driven by a sharp rise in global crude oil prices due to the ongoing conflict in West Asia. Government sources stated, “The government is closely monitoring the evolving situation in West Asia and its impact on global energy markets.” The Ministry of Petroleum and Natural Gas confirmed that retail pump prices have remained unchanged.

The government is expected to make a decision on the price hike within the next 5–7 days. No final decision has been announced yet regarding the price hike.

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