business ⛽ Petrol prices: government clarifies no direct control
The government stated that petrol and diesel prices are market-driven, not directly controlled by them. Minister Suresh Gopi explained that India's price increase between June 2021 and June 2026 was lower compared to developed and neighboring nations. In Delhi, petrol rose 8.1% and diesel increased 11.5% during that period. PSU oil companies absorbed much of the hike, leading to losses for IOC, BPCL, and HPCL in Q1 2026-27. The government cut excise duty by ₹10 per litre in March 2026 to protect consumers. ⛽