Indian Refiners Halt Domestic Jet Fuel Price Increases After Four Consecutive Hikes

Bharat Petroleum Corp. and Hindustan Petroleum Corp. com reported on June 1. The three companies also lowered prices for international flights, citing unnamed spokespeople from state-owned refiners.

6 percent in April amid tighter supply linked to the Strait of Hormuz crisis. The four price increases over the past month marked the first fuel price hikes in India in four years. The government has sought to shield consumers from global oil market swings.

India imports more than 80 percent of its crude and ranks as the world’s third-largest crude importer. 88 percent in March, driven by higher energy costs tied to the Middle Eastern conflict. 62 percent gain the prior month.

Kpler analysts cut their 2026 demand forecast for India by as much as 39 percent, projecting growth of only 77,000 barrels per day instead of the earlier estimate of 128,000 barrels per day. S. sanctions waiver that has already been extended twice.

Despite the waiver, shipments from the Middle East have been restricted by Iran’s closure of free vessel movement through the Strait of Hormuz. A separate arrangement between Tehran and New Delhi has permitted several energy cargoes to transit the waterway.