Indian Oil said that state-run oil firms have absorbed the impact of higher global fuel costs to avoid passing the burden on to consumers and airline passengers.
File photo used for representation.
The price of 19 kg commercial LPG cylinders has been increased by Rs 993 with effect from today, taking the new rate to Rs 3,071.5 in Delhi, Indian Oil Corporation (IOC) said.
The oil major, however, said there has been no change in domestic LPG cylinder prices. It also maintained that petrol and diesel rates remain unchanged despite a rise in global energy prices.
No Change In Key Consumer Fuels
Retail fuel prices, including petrol and diesel, have been kept unchanged, even as global energy costs remain elevated. Aviation turbine fuel (ATF) for domestic airlines has also not been revised, offering some relief to the aviation sector.
While consumers have benefited from stable prices, oil marketing companies are bearing the financial burden. They are purchasing crude at significantly higher rates but continuing to sell fuels without passing on the full cost increase, leading to mounting losses.
The government faces a balancing act — raising prices could ease pressure on oil firms but may push inflation higher and impact economic growth. At the same time, it is already dealing with increased spending on subsidies such as LPG and fertilisers.
With global uncertainties persisting, especially in energy markets, the ability of oil companies to absorb prolonged losses is expected to come under strain, and they may seek support from the Centre to offset under-recoveries.
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