Petrol diesel and CNG jump as India absorbs Iran war losses in OMCs and inflation risk

OMCs hemorrhaged over Rs 1000 crore daily before the hike

Indian Oil Marketing Companies have raised petrol and diesel prices by Rs 3 per litre and CNG by Rs 2 per kg after reportedly enduring daily losses of Rs 1,000–1,200 crore since the Iran war began. Economists warn the move could add inflationary pressure as higher fuel costs ripple through transport, logistics and retail prices. With the Strait of Hormuz affecting crude supplies, April retail inflation edged up to 3.48% and WPI inflation rose to 8.3%, tightening India’s inflation outlook.