The situation has escalated due to OMCs currently absorbing losses of ₹24 per litre on petrol and ₹30 per litre on diesel. This unsustainable model has persisted despite the government’s previous reduction of excise duty by ₹10 per litre, which resulted in a staggering revenue loss of ₹1.7 lakh crore annually. Such financial pressures highlight the delicate balance between consumer relief and the operational viability of these companies.

In April 2026, LPG consumption in India saw a sharp decline of 16.16%, falling to just 2.2 million tonnes. This drop reflects not only changing consumer preferences but also the economic realities faced by households across the nation. As costs rise, many are forced to reconsider their energy choices.

Key factors influencing this shift:

• The surge in Brent crude oil prices impacts all petroleum products.
• Rising inflation continues to erode purchasing power.
• Government policies have led to significant revenue adjustments for OMCs.

A senior official remarked, “We cannot keep prices unchanged when there are supply issues. At some point, we have to make adjustments according to market conditions.” This sentiment underscores the urgency with which OMCs must act to stabilize their finances while navigating public sentiment regarding fuel costs.

The government is poised to announce a price increase for petrol and diesel soon after the election results—an action anticipated by both consumers and industry experts alike. However, officials have not clarified whether this will include adjustments in LPG pricing as well, leaving many questions unanswered about the broader implications for household budgets.

The post Petroleum Prices Set to Rise Amidst Soaring Crude Oil Costs appeared first on The Business News.

The question on everyone’s mind is: Is there really an LPG gas shortage in India? The answer, according to government officials, is a resounding no. Despite the recent surge in demand for liquefied petroleum gas (LPG) cylinders, the Ministry of Petroleum and Natural Gas has confirmed that supplies remain stable and sufficient to meet the needs of the population.

Recent statistics reveal that India’s domestic refinery production has increased by an impressive 40 percent, now reaching a daily output of 50,000 metric tonnes of LPG. This ramp-up in production comes in response to a spike in demand, which had soared to 89 lakh cylinders due to panic ordering. Fortunately, this demand has since normalized to around 50 lakh cylinders per day, aligning more closely with the typical consumption patterns.

Sujata Sharma, Joint Secretary (Marketing & Oil Refinery) at the Ministry of Petroleum & Natural Gas, stated, “There is no shortage of LPG at any distributorship.” This assertion is backed by the fact that oil companies are successfully delivering over 50 lakh cylinders every day, ensuring that households across the country are adequately supplied.

Moreover, the government has emphasized that all retail fuel outlets have sufficient LPG supplies, with the country currently holding enough petrol, diesel, and LPG stock for nearly 60 days. This is a reassuring statistic, especially considering that India has a total storage capacity of about 74 days for crude oil and fuel, which provides a buffer against potential supply chain disruptions.

In a bid to quell the rising tide of misinformation, officials have urged citizens not to panic. “Every Indian refinery is running at over 100 percent utilization,” they noted, underscoring the commitment of the sector to meet the needs of consumers. The government has also called upon citizens not to be misled by a “deliberately mischievous, coordinated campaign of misinformation” that has contributed to the recent panic.

It is worth noting that India relies heavily on imports for its energy needs, meeting over 40 percent of its crude imports and 90 percent of its LPG imports from West Asian countries. This dependency raises concerns about the vulnerability of the supply chain, particularly in times of geopolitical tension or market fluctuations.

As the situation unfolds, the government continues to monitor the supply and demand dynamics closely. While officials remain confident about the current stability of LPG supplies, the recent panic has highlighted the need for better communication and transparency to prevent future crises. For now, the message is clear: there is no LPG gas shortage in India, and citizens are encouraged to remain calm.

The post LPG Gas Shortage: Is There Really a Crisis in India? appeared first on The Business News.

Indian Oil Corporation Limited (IOCL) has assured that fuel supply across the country remains uninterrupted. All fuel stations nationwide are fully operational with adequate stocks of petrol, diesel, and other petroleum products. Consumers have been advised to rely only on verified information and continue refuelling as usual.

Apprenticeship Recruitment

In addition to ensuring fuel availability, IOCL has released the IOCL Apprenticeship Recruitment 2026 notification for 405 apprentice posts. This recruitment drive aims to engage trade, technician, and graduate apprentices under the Apprentices Act. Candidates must meet educational and age requirements specified in the official notification to apply for the apprenticeship programme.

The minimum age to apply for the apprenticeship is 18 years, while the maximum age is set at 24 years. The apprenticeship programme provides candidates with hands-on training in technical and operational roles within IOCL facilities.

Interim Dividend Announcement

Furthermore, Indian Oil Corporation Ltd has announced an interim dividend of Rs. 2.00 per share, with both the ex-date and record date set for 12 March 2026. This announcement reflects the company’s commitment to providing returns to its shareholders amidst ongoing operations.

Details remain unconfirmed regarding the broader implications of these announcements on IOCL’s future operations and workforce development. Stakeholders are encouraged to stay informed as further developments unfold.

The post Iocl: Fuel Supply Uninterrupted Amid Recruitment and Dividend Announcements appeared first on The Business News.

Indian Oil Corporation Limited (IOCL) has assured that fuel supply across the country remains uninterrupted. All fuel stations nationwide are fully operational with adequate stocks of petrol, diesel, and other petroleum products. Consumers have been advised to rely only on verified information and continue refuelling as usual.

Apprenticeship Recruitment for 2026

In addition to ensuring fuel availability, IOCL has released the IOCL Apprenticeship Recruitment 2026 notification for 405 apprentice posts. This recruitment drive aims to engage trade, technician, and graduate apprentices under the Apprentices Act.

To apply for the apprenticeship programme, candidates must meet specific educational and age requirements as outlined in the official notification. The minimum age to apply is 18 years, while the maximum age is 24 years.

The apprenticeship programme provides candidates with hands-on training in technical and operational roles within IOCL facilities, contributing to skill development in the oil and energy sector.

Interim Dividend Announcement

Furthermore, Indian Oil Corporation Ltd has announced an interim dividend of Rs. 2.00 per share, with both the ex-date and record date set for 12 March 2026. This announcement reflects the company’s ongoing commitment to its shareholders amidst its operational activities.

As IOCL continues to navigate the complexities of the energy market, details remain unconfirmed regarding future developments in both fuel supply and apprenticeship initiatives.

The post Iocl: Fuel Supply and Apprenticeship Updates from Indian Oil Corporation Limited appeared first on The Business News.