Indian state-owned refiners have halted increases in domestic jet fuel prices after airlines requested relief from recent cost spikes. In April, jet fuel prices jumped 8.6% due to tighter supply, according to Bloomberg.
The freeze comes alongside an additional concession: refiners reduced the price of jet fuel for international flights, the report noted, citing unnamed spokespeople from state-owned companies. This marks a pause after a period of aggressive pricing.
Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp.—the three key state-owned refiners—had hiked fuel prices four times in recent months prior to this decision. The moves reflect pressure from carriers facing squeezed margins.
The geopolitical context includes global supply tightness that drove the April increase. While domestic prices are now frozen, international market dynamics could still influence future adjustments.
Airlines have welcomed the freeze as a temporary reprieve, but industry observers note that sustained relief depends on global crude and refining margins. The decision may temper near-term cost pressures for the aviation sector.