This situation arises after a period of stability for petrol and diesel prices in India since April 2022. Despite rising global crude oil costs, the government had previously reduced excise duty by ₹10 per litre, resulting in a revenue loss of ₹1.7 lakh crore annually for the state.

Expected price adjustments:

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

Meanwhile, LPG demand has also taken a hit; consumption fell by 16.16% in April 2026, dropping to 2.2 million tonnes. This decline in LPG usage reflects broader economic challenges as inflation continues to affect consumer behavior.

A senior official noted, “We cannot keep prices unchanged when there are supply issues. At some point, we have to make adjustments according to market conditions.” The government acknowledges that a price adjustment is unavoidable given the financial strain on OMCs.

Looking ahead, the government is expected to announce a price increase for petrol and diesel soon after the election results. This decision will likely impact consumers across India as they grapple with rising costs amidst ongoing inflationary pressures.

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Oil marketing companies have faced substantial losses, with state-owned retailers incurring about Rs 20 per litre on petrol and roughly Rs 100 per litre on diesel. Retail rates have largely been frozen since 2022, leading to this critical juncture.

Key statistics:

• Expected increase of Rs 4–5 per litre for petrol and diesel.
• Domestic LPG cylinders may see a hike of Rs 40–50.
• State-owned fuel retailers are losing Rs 20 per litre on petrol.
• Losses on diesel are approximately Rs 100 per litre.

The Ministry of Petroleum and Natural Gas confirmed that retail pump prices have remained unchanged despite fluctuations in global oil markets. Government sources stated, “The government is closely monitoring the evolving situation in West Asia and its impact on global energy markets.”

No final decision regarding the price hike has been announced yet, but the government is expected to make a ruling within the next 5–7 days. This potential adjustment raises inflation concerns among consumers and businesses alike.

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Bharat Petroleum Corporation Limited (BPCL) has made significant changes to its Board of Directors, appointing Vedveer Arya as an Additional Director. Arya’s term will last for three years or until further orders, marking a pivotal shift in the company’s governance.

Arya, who is currently the Additional Secretary and Financial Advisor in the Ministry of Petroleum and Natural Gas, brings a wealth of experience to BPCL. He is a 1997 batch officer of the Indian Defence Accounts Service (IDAS) and has held senior positions within the Government of India, including serving as Joint Secretary and Additional Financial Adviser at the Ministry of Defence. His background includes work on the Agni Missile project and other tactical missile systems at the Defence Research and Development Organisation (DRDO).

Sushma Agarwal, who has completed her tenure as an Independent Director at BPCL, has been instrumental in guiding the company through various challenges during her time on the board. Her departure opens the door for new leadership and perspectives as BPCL navigates the complexities of the oil and gas sector.

In compliance with regulations set forth by the Securities and Exchange Board of India (SEBI), BPCL is required to disclose any changes in its board to BSE Limited and the National Stock Exchange of India. Arya’s appointment comes at a crucial time as the Ministry of Petroleum and Natural Gas has recently directed refiners to prioritize Liquefied Petroleum Gas (LPG) production amid ongoing supply issues.

BPCL is one of the three state-run oil marketing companies responsible for domestic LPG distribution in India. The company plays a vital role in ensuring that millions of households have access to this essential cooking fuel. G Krishnakumar, a senior official at BPCL, emphasized the need for more sources of LPG, particularly in light of the current geopolitical tensions in West Asia that could affect supply chains.

Krishnakumar noted that targeted government initiatives, such as the Pradhan Mantri Ujwala Yojana (PMUY), have significantly shifted consumption patterns by moving millions of households from traditional cooking fuels to LPG. However, he cautioned that while these initiatives are beneficial, the transition is a long-term process that is not easy to implement.

As BPCL moves forward with its new board composition, observers will be watching closely to see how Arya’s extensive experience in government finance and defense will influence the company’s strategic direction, particularly in addressing the challenges of LPG supply and distribution. Details remain unconfirmed regarding any immediate changes in BPCL’s operational strategies following this board transition.

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