Indian fuel retailers raise jet fuel, commercial LPG prices amid Middle East war

Indian fuel retailers raised jet fuel and commercial LPG prices on Wednesday, following a sharp spike in global prices due to the Iran war.

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 shortage of cooking gas.

Domestic fuel retailers have hiked prices of aviation turbine fuel by 8.58% to 1,04,927 rupees/kilolitre and commercial LPG by 10.38% to 2,078.50 rupees per 19 kilogram cylinder in the capital city of New Delhi, Indian Oil Corporation’s website showed.

Oil up over 1% as Mideast uncertainty keeps market jittery

“In order to insulate the domestic travel costs from the substantial increase in international prices, PSU Oil Marketing Companies of the Ministry of Petroleum, in consultation with Ministry of Civil Aviation, have passed only a partial and staggered increase of 25% to the airlines”, the ministry said in a post on X.