Refiners have room to hold line on fuel prices
New Delhi, March 6 -- State-run refiners will shield consumers from any immediate fuel price hike despite surging international oil prices, backed by strong financials, with their combined net profit rising 192% to Rs.57,810 crore in the first nine months of FY26 from Rs.19,768 crore a year earlier, people aware of the development said.
Supplies of petrol and diesel and their retail prices have remained stable even as the blockage in the Strait of Hormuz entered its sixth day, the people said, requesting anonymity. Iran has choked the Strait of Hormuz, the 33-kilometre passage between Iran and Oman that carries about one-fifth of global energy supplies. The disruption pushed international benchmark Brent crude to a 52-week high of $85.12 a ...
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