No petrol, diesel price hike despite high crude prices, govt sources say

For now, there may be no fresh burden at the fuel pump. Government sources told Business Today that petrol and diesel prices are unlikely to be increased despite elevated and volatile crude oil prices.

The government is closely watching the global oil market, with crude prices expected to remain uncertain until the US midterm elections. The situation around the Strait of Hormuz is also being monitored, as keeping fuel flows through the key shipping route open remains a priority.

India is also using diplomatic channels to support the smooth movement of fuel through the region. The government is keeping its options open, including providing financial support to oil marketing companies (OMCs) if required to prevent higher international crude costs from being passed on to consumers.

(This is a developing story.) - EndsPublished By: Jasmine anandPublished On: Sep 23, 2026 15:50 IST