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The Latest Breaking News from Petrol

Why Experts Fear India’s Toughest Economic Phase Yet

A single statement from banker Uday Kotak has suddenly sparked fear across India’s business and financial circles. “The shock is coming,” he warned while speaking about the growing Iran conflict and India’s dangerous dependence on imported oil. At first, it sounded like just another economic caution. But when India’s top…

MyLifeXP

Near $30BN Military Tab Stokes Petrol Surge With Consumers Accusing Fuel Retailers of Price Gouging Amid Price Variation

The Pentagon's revised $29 billion estimate for the US-Iran conflict is linked to rising fuel prices, sparking consumer complaints of price gouging and political scrutiny over defence spending.

International Business Times UK

Iran war pushes US inflation to 3.8% as petrol prices surge

US consumer prices rose 3.8% in April as the Iran war drove petrol costs up 28% in a year, with real wages falling for the first time in three years, according to government data.

Euronews

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Electric vehicle sales hit new record as buyers look to cut back on petrol costs

EVs are now cheaper to recharge than a petrol vehicle is to fill up after fuel price increases

The Independent UK

India will need to see how long fuel retailers can bear losses, oil minister says

India's oil minister highlighted the need to address state-run fuel retailers' mounting losses from selling petrol and diesel below market rates. Despite global price surges, pump prices remain unchanged, impacting companies significantly. Officials deem compensation fiscally unsustainable, suggesting a substantial but inflation-conscious price adjustment may be necessary soon.

The Economic Times

Lotus boss calls for UK government support as it commits to Norfolk plant

Sports carmaker extends lifespan of petrol-engined Emira, made in Norfolk, to continue to cater for US market

The Guardian - UK

Trump Economic Advisor Claims Record Low Consumer Sentiment Is Caused By Stress Of Seeing Too Much Positive Change Too Quickly

The White House attributes record-low consumer confidence to rapid changes under Trump's administration, despite rising petrol prices and tariffs being cited as primary causes by the University of Michigan survey.

International Business Times UK

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‘It’s not like a lockdown is going to take place tomorrow’: Puri dismisses fears after PM Modi’s fuel-saving push

Union Minister Hardeep Singh Puri reassured citizens that no lockdown-like restrictions are imminent despite Prime Minister Modi's call for fuel conservation amid the West Asia crisis. Puri asserted India's energy supplies remain stable, with significant domestic LPG production increases and substantial oil and LPG reserves in place.

The Economic Times

Petrol, Diesel prices today hiked? Check the latest rates in Delhi, Mumbai, Kolkata and other cities as OMCs bleed Rs 1,000 crore per day

Petrol, Diesel prices today (May 12): Petrol and diesel prices remained steady on May 12, 2026, despite rising concerns over India's energy security and escalating crude oil prices. The government is absorbing daily losses to shield consumers, while urging citizens to curb fuel consumption amid Middle East tensions. India maintains…

The Economic Times

Trump Adviser Says Record-Low Consumer Sentiment Is Basically POTUS' Fault for Caring Too Much

US consumer confidence has reached a record low, driven by high petrol prices and tariffs. Economic pressures are affecting household budgets, with many Americans feeling financially strained.

International Business Times

Trump Shocks Critics After Calling Strait of Hormuz Shutdown the 'Smartest Move in History'

Trump hails Strait of Hormuz shutdown as history's smartest move, even as petrol tops $4.52 and Iran ceasefire talks collapse, escalating rhetoric in the conflict's tenth week.

International Business Times

Trump to cut federal fuel tax as motorists count cost of Iran war at the pump

Petrol prices in the US have risen by more than 50% since the start of the Middle East conflict, feeding domestic discontent

Evening Standard

Observe and shock absorb: To ride out this oil crisis, focus should be on well-targeted support, not broad price suppression

India is navigating a critical oil import challenge. The government's approach of keeping fuel prices steady faces fiscal and equity questions. Experts suggest a move towards targeted aid for the needy instead of broad price cuts. Building strategic reserves and accelerating renewable energy adoption are crucial long-term steps to reduce…

The Economic Times

Petroleum Ministry says fuel, LPG stocks adequate amid global supply disruptions; urges citizens to conserve energy

India's Petroleum Ministry confirms stable fuel supplies despite global energy challenges. Crude oil inventories are secure, refineries operate at peak capacity, and no fuel shortages are reported nationwide. The government urges citizens to conserve fuel by using public transport, carpooling, and opting for electric vehicles. These measures aim to ease…

The Economic Times

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The Economic Times

After PM Modi’s WFH appeal, Nitin Gadkari has this message for Indians to save fuel amid Iran war

Amid escalating Middle East tensions, Prime Minister Modi urged citizens to conserve fuel by reducing petrol and diesel consumption, promoting work-from-home, public transport, and carpooling. He also advised against non-essential foreign travel and gold purchases for at least a year to bolster foreign exchange reserves and the domestic economy.

MyLifeXP

Why PM Modi Suddenly Wants Indians to Work From Home

As fuel prices rise and tensions in West Asia continue to grow, Prime Minister Narendra Modi has made an unexpected appeal to Indians work from home whenever possible, avoid unnecessary travel, and use fuel carefully. For many people, it sounded like a reminder from the Covid era. But behind this…

The Economic Times

Rs 1,600-1,700 cr a day, Rs 1 lakh cr in 10 weeks: Cost of insulating India from global energy shock

State-owned oil firms are incurring massive daily losses, estimated at Rs 1,600-1,700 crore, to shield Indian consumers from global energy price shocks. This has led to over Rs 1 lakh crore in under-recoveries in 10 weeks, raising concerns about their financial sustainability and the need for potential price hikes.

MyLifeXP

5 Reasons the Skoda Kylaq Feels Built for India

Indian roads demand more than just a stylish car. Drivers want comfort during long traffic hours, enough space for family trips, strong safety, fuel efficiency, and a design that still feels premium years later. Most SUVs promise these things. Very few actually balance them well. That is where the new…

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The Independent UK

UK drivers could save almost £1,000 a year by switching to electric vehicles amid rising petrol prices

IN FULL

The Independent UK

Boost for electric car market as petrol costs soar due to Iran war

The fuel savings for switching to an electric vehicle hit a new high – £960 a year

Evening Standard

Trump says ‘bombing starts’ if Iran fails to reach deal, amid UK jobs warning

The US president insists the conflict is ‘going very smoothly’ despite the global economic shock and spike in petrol prices.

The Guardian - AU

Albanese has announced plans for a $10bn fuel and fertiliser supply package. What will this mean at the petrol pump?

Private companies will be required to hold an extra 10 days of fuel, taking Australia’s overall reserves of diesel and jet fuel to 50-day supply

The Guardian - AU

Conservatives want more Australian oil and refineries – but is that really the answer to the fuel crisis?

Experts say expanding oil infrastructure, instead of embracing electric vehicles, would ignore basic economics

The Independent UK

Two million electric cars are now on UK roads – but still missing government EV targets

New car sales bounced back in April as EVs hit a major milestone, while the Renault 5 became Britain’s best-selling electric car

The Independent UK

RAC warns that highest petrol prices are yet to come amid more Iran turmoil

IN FULL

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