Gasoline and diesel prices remained largely steady on April 11, despite continued disruptions to fuel supply chains around the world and the resulting surge in oil markets. Since the beginning of the war in West Asia, international oil prices have been on an upward trajectory, raising them by about 50%, above $100 per barrel.
Despite large swings in global oil markets, domestic consumers are isolated by oil companies and the government. To alleviate some of the need for price hikes at a time of growing fears of soaring inflation, the government has announced a cut in excise duty on petrol and diesel.
According to a PTI report, Jio-BP, the country’s second largest private fuel retailer, has no immediate plans to increase fuel prices. Despite a sharp rise in international oil prices, the fuel joint venture between Reliance Industries Ltd and BP Plc has kept fuel prices steady. Jio-BP CEO Akshay Wadhwa said on Friday that Jio-BP “is not planning any price hike as of now,” PTI reported. In particular, the war in the Middle East has disrupted oil supplies due to the closure of the Strait of Hormuz, a strategic waterway that serves as a key shipping route.
Nayara Energy, the country’s largest private fuel retailer, in which Russian oil giant Rosneft has the largest stake, has raised the price of petrol by ₹5 liters and diesel would ₹3. Even Shell India hiked fuel prices at its 343 outlets.
Electric car registrations are experiencing a sharp increase
Amid fears of future fuel price hikes, consumers are rushing for alternatives as the nation’s capital saw a 29% year-on-year increase in electric vehicle registrations in FY26, Envirocatalysts data suggests. Meanwhile, gasoline vehicle registrations continued to grow.
According to experts, the new electric vehicle (EV) policy and recent trends point to a further increase in EV purchases in the coming years. Notably, EV registrations have increased from 83,512 in 2024-25 to 1.07 lakh in 2025-26, as revealed by EnviroCatalysts’ data analysis on the Vahan dashboard of the Ministry of Road Transport and Highways.
“While EV registrations have seen strong growth, petrol and CNG volumes have yet to eat up. With the new EV policy expected to offer higher incentives, we may see a gradual decline in petrol and CNG vehicles along with a further increase in EV adoption,” PTI quoted Sunil Dahiyu of Envirocatalysts as saying.
At the same time, CNG vehicle registrations rose from 25,330 to 32,224, indicating a continued shift towards relatively cleaner fossil fuel options. In contrast, diesel vehicles recorded one of their lowest levels since 2019 as their registrations fell from 12,007 to 11,498.
