Petrol and diesel prices remained largely stable on 11 April, despite ongoing disruption in fuel supply chains across the globe and the resultant increase in crude oil markets. Since the war in West Asia began, international oil prices have been on an upward trajectory, increasing them by about 50%, above $100 per barrel.
Despite major fluctuations in global crude oil markets, domestic consumers have been insulated by the oil companies and the government. To alleviate the need for raising prices to some extent amid rising concern of spiking inflation, the government announced excise duty cut on petrol and diesel.
According to PTI report, Jio-BP, the country's second-largest private fuel retailer does not plan to raise fuel prices immediately. Despite a spike in international oil prices, the fuel joint venture of Reliance Industries Ltd and BP Plc, has kept fuel rates steady. Jio-BP chief executive Akshay Wadhwa on Friday said Jio-BP is “not planning any increase in prices as of now,” PTI reported. Notably, the war in the Middle East has disrupted oil supply due to closure of Strait of Hormuz — the strategic waterway that serves as a crucial shipping route.
Nayara Energy, the country's largest private fuel retailer in which Russian oil giant Rosneft holds the largest share, surged petrol price by ₹5 a litre and diesel by ₹3. Even Shell India spiked fuel prices at its 343 outlets.
Electric vehicle registrations see a sharp spike
Amid concerns over future spike in fuel prices, consumers are rushing to alternatives as the national capital registered a 29 per cent rise in electric vehicle registrations in FY26 compared to the previous year, Envirocatalysts data suggests. Meanwhile, petrol vehicle registrations continued to grow.
According to experts, the new electric vehicle (EV) policy and recent trends point to a further increase in EV purchases in the coming years. Notably, EV registrations increased from 83,512 in 2024–25 to 1.07 lakh in 2025–26, as revealed by EnviroCatalysts' data analysis of the Vahan dashboard of the Ministry of Road Transport and Highways.
"While EV registrations have seen a strong increase, they have not yet eaten into petrol and CNG volumes. However, with the new EV policy expected to offer increased incentives, we may see a gradual decline in petrol and CNG vehicles alongside a further rise in EV adoption," PTI quoted Sunil Dahiya of Envirocatalysts as saying.
At the same time, CNG vehicle registrations rose from 25,330 to 32,224, indicating a continued shift towards relatively cleaner fossil fuel options. In contrast, diesel vehicles saw one of their lowest levels since 2019 as their registrations declined from 12,007 to 11,498.
