State-owned refiners freeze prices following an 8.6% April increase amid tighter supply and airline pressure.
Indian state-owned refiners have frozen domestic jet fuel prices after airlines requested relief from recent hikes. The move follows an 8.6% price increase in April due to tighter supply conditions, which strained airline operating costs.
Refiners, including Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp., had raised fuel prices four times in recent months. In a further concession, they also reduced jet fuel prices for international flights, responding to industry concerns over rising expenses.
The decision aims to ease financial pressure on airlines, though its impact on broader fuel markets remains limited given the targeted nature of the freeze.