India Urges Motorists to Avoid Panic Buying of Fuel
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 28 2026
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Source: Newsfilter
- Supply Assurance: A government official in India has assured that there are adequate supplies of liquefied petroleum gas, petrol, and diesel, emphasizing that there are no plans to raise fuel prices, aiming to alleviate consumer panic amid rising oil prices.
- Price Impact Analysis: India's crude import prices surged to $120 per barrel earlier this month due to the closure of the Strait of Hormuz following the U.S.-Israeli conflict with Iran, which has squeezed retailer margins as retail prices have not adjusted accordingly.
- Price Adjustment Expectations: Analysts predict that after elections in certain states conclude on April 29, there may be a need to raise gasoline and gasoil prices by 25-28 rupees to address the escalating crude oil costs, highlighting the urgent demand for price adjustments in the market.
- Profit Warning: Estimates from ICICI Securities indicate that tax profit for Indian oil retailers likely plummeted by 82% in the March quarter year-over-year, revealing that despite soaring crude costs, retail prices have not increased in tandem, placing significant pressure on retailer profitability.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
