The surge in Brent crude oil prices, which have now reached $108 per barrel, has placed immense pressure on OMCs. Despite these challenges, petrol and diesel prices have remained stable since April 2022, largely due to government interventions. However, sources indicate that the government believes a price adjustment is unavoidable due to the financial strain on OMCs.

Key facts:

• OMCs are currently losing ₹24 per litre on petrol and ₹30 per litre on diesel.
• Brent crude oil prices have reached $108 per barrel.
• Petrol and diesel prices in India are likely to increase by ₹2 to ₹4 per litre soon.
• The average price of a 19-kg LPG cylinder in Delhi has risen to ₹3,071.50.

Furthermore, LPG consumption in India has shown a significant decline of 16.16% in April 2026, falling to 2.2 million tonnes. This decrease may be linked to rising costs impacting household budgets amid ongoing inflationary pressures.

The government previously reduced excise duty by ₹10 per litre, resulting in a revenue loss of approximately ₹1.7 lakh crore annually. This reduction aimed to cushion consumers from the impact of rising global oil prices but has further strained OMC finances. A senior official stated, “We cannot keep prices unchanged when there are supply issues. At some point, we have to make adjustments according to market conditions.”

Looking ahead, the government is expected to announce a price increase for petrol and diesel soon after the election results are finalized. The exact timing and magnitude of these increases remain uncertain; however, it is clear that OMCs face mounting pressures that could lead to further adjustments in fuel pricing.

The post Petroleum Price Hikes Loom as Crude Oil Costs Surge appeared first on NewsNationIndia.

To support this assertion, the government has ramped up domestic refinery production by an impressive 40 percent, resulting in a daily LPG output of 50 thousand metric tonnes. This increase in production is crucial, especially as the demand for LPG cylinders surged to 89 lakh due to panic ordering. Fortunately, this demand has since stabilized to around 50 lakh cylinders per day, which is manageable given the current production levels.

What the data shows

Oil companies across India are successfully delivering over 50 lakh cylinders every day, indicating that supply chains are functioning effectively. Furthermore, the Ministry has assured that all retail fuel outlets are well-stocked with LPG. As of now, India has sufficient petrol, diesel, and LPG stock to last nearly 60 days, a figure that underscores the robustness of the country’s fuel supply system.

India’s total storage capacity for crude oil and fuel is approximately 74 days, providing an additional layer of security against potential supply disruptions. This capacity is particularly vital as India relies heavily on imports for its energy needs, meeting more than 40 percent of its crude imports and 90 percent of its LPG imports from West Asian countries. The current geopolitical climate and fluctuations in global oil markets can create uncertainties, but the government maintains that domestic production and distribution are stable.

In response to the panic and misinformation circulating among the public, Sujata Sharma, the Joint Secretary of Marketing & Oil Refinery at the Ministry of Petroleum & Natural Gas, stated, “There is no shortage of LPG at any distributorship.” This statement aims to quell fears and reassure citizens that the situation is under control. Additionally, officials have urged the public not to be misled by what they describe as a “deliberately mischievous, coordinated campaign of misinformation.”

The LPG prices across major cities reflect the current market conditions, with prices set at ₹913 per cylinder in Delhi and Mumbai, ₹942 in Kolkata, ₹929 in Chennai, ₹918 in Bengaluru, and ₹955 in Hyderabad. These prices are subject to change based on global oil prices and domestic production costs, but they currently remain stable amidst the heightened demand.

As the situation evolves, the government continues to monitor the supply and demand dynamics closely. While the current data suggests that there is no immediate cause for concern, the potential for fluctuations in demand or disruptions in supply chains remains. Details remain unconfirmed regarding how long the current stability will last and whether any future geopolitical events could impact LPG imports.

In summary, the LPG gas shortage narrative in India appears to be more a product of panic than reality. With government assurances and increased production, the country seems well-equipped to handle current demands. However, the ongoing monitoring of both domestic and international factors will be essential to ensure that this stability continues in the face of potential challenges ahead.

The post Lpg gas shortage: Understanding the in India appeared first on NewsNationIndia.

Indian Oil Corporation Limited (IOCL) has assured that fuel supply across the country remains uninterrupted. All fuel stations nationwide are fully operational with adequate stocks of petrol, diesel, and other petroleum products. Consumers have been advised to rely only on verified information and continue refuelling as usual.

New Apprenticeship Opportunities

In addition to its commitment to fuel supply, IOCL has released the IOCL Apprenticeship Recruitment 2026 notification for 405 apprentice posts. This recruitment drive aims to engage trade, technician, and graduate apprentices under the Apprentices Act. The apprenticeship programme provides candidates with hands-on training in technical and operational roles within IOCL facilities.

To apply for the apprenticeship programme, candidates must meet educational and age requirements specified in the official notification. The minimum age to apply for the apprenticeship is 18 years, while the maximum age is 24 years.

Interim Dividend Announcement

Furthermore, Indian Oil Corporation Ltd announced an interim dividend of Rs. 2.00 per share, with both the ex-date and record date set for 12 March 2026. This announcement reflects IOCL’s financial health and commitment to returning value to its shareholders.

As IOCL continues to operate smoothly in the fuel supply sector and expand its apprenticeship programme, stakeholders are encouraged to stay updated on further developments regarding both initiatives.

The post Iocl: Latest Updates on : Fuel Supply and Apprenticeship Recruitment appeared first on NewsNationIndia.

Indian Oil Corporation Limited (IOCL) has assured consumers that fuel supply across the country remains uninterrupted. All fuel stations nationwide are fully operational with adequate stocks of petrol, diesel, and other petroleum products. Consumers have been advised to rely only on verified information and continue refuelling as usual.

Apprenticeship Recruitment Announcement

In a significant development, IOCL has released the IOCL Apprenticeship Recruitment 2026 notification for 405 apprentice posts. This recruitment drive aims to engage trade, technician, and graduate apprentices under the Apprentices Act. The apprenticeship programme provides candidates with hands-on training in technical and operational roles within IOCL facilities.

To apply for the apprenticeship programme, candidates must meet specific educational and age requirements as outlined in the official notification. The minimum age to apply for the apprenticeship is 18 years, while the maximum age is set at 24 years.

Interim Dividend Announcement

In addition to these initiatives, Indian Oil Corporation Ltd has announced an interim dividend of Rs. 2.00 per share. The ex-date for this interim dividend is scheduled for 12 March 2026, with both the ex-date and record date coinciding on the same day.

These developments highlight IOCL’s commitment to maintaining a stable fuel supply while also investing in the future workforce through apprenticeship opportunities. As the company continues to operate in the oil and energy sector, it remains a crucial player in India’s energy landscape.

Details remain unconfirmed regarding any further developments in the apprenticeship programme or additional financial announcements from IOCL.

The post Iocl: Fuel Supply and Apprenticeship Updates appeared first on NewsNationIndia.

As the Iran-Israel war continues to unfold, significant disruptions in oil supply have been reported, particularly through the crucial Strait of Hormuz. This situation has led to a volatile environment for global gas prices.

On March 10, 2026, crude oil prices experienced a sharp decline, with Brent crude prices plunging 17 percent to below $80 a barrel before rebounding to near $90. This volatility reflects the market’s response to perceived risks associated with the ongoing conflict.

Impact on Gas Prices

In the United States, petroleum prices have risen approximately 17 percent since the start of the war, indicating a direct correlation between the conflict and rising energy costs. The International Energy Agency is now considering the largest release of oil reserves in its history to stabilize the market.

In India, the war has raised fears of a serious liquefied petroleum gas (LPG) crisis. The country, which relies heavily on imports for its LPG needs—90 percent of its consumption—is facing a potential supply gap of 2 million tonnes.

Government Response in India

To address the situation, the Indian government has invoked the Essential Commodities Act to ensure equitable distribution of LPG. The Centre is securing 1 million tonnes of LPG from the United States to mitigate shortages.

Restaurants in major cities like Chennai, Mumbai, and Bengaluru are at risk of shutting down due to LPG shortages, with the National Restaurant Association of India highlighting the discrepancy between government assurances and ground realities. “As per articles [in the media], the government has clarified that there is no ban on the supply of commercial LPG cylinders for the restaurant industry… but the ground situation is different,” the association stated.

Current State and Future Uncertainties

Currently, the market is grappling with the implications of the ongoing conflict. M.K. Stalin, a prominent political figure, emphasized the need for the Union government to ensure that the LPG cylinder shortage does not adversely affect public and commercial sectors in Tamil Nadu.

Details remain unconfirmed regarding the exact duration of the war and its long-term impact on oil prices. The effectiveness of government measures to address the LPG shortage also remains uncertain, leaving many in the industry anxious about the future.

As Chad Norville noted, “What we saw this week was the market briefly treating that risk as real and repricing supply disruption in earnest.” The situation continues to evolve, with stakeholders closely monitoring developments in the region.

The post Iran israel war gas prices appeared first on NewsNationIndia.