Bharat Petroleum Corporation Limited director Raj Kumar Dubey has warned that another increase in petrol and diesel prices may be unavoidable if global energy disruptions persist. He said policymakers face limited choices: raise retail prices, allow oil companies to absorb mounting losses, or rely on government deficit financing. With crude oil prices remaining elevated amid the ongoing West Asia conflict, he indicated that continued instability would likely lead to further hikes.

State-run oil companies have already raised fuel prices three times this month, with petrol and diesel increasing by nearly 90 paise per litre in the latest revision. Despite these increases, companies are still facing significant under-recoveries on both fuels as global crude prices have surged sharply since February, disrupting flows through the Strait of Hormuz.

Dubey said India has avoided fuel shortages by diversifying its oil import sources, expanding from 20 to 40 supply points, including Russia and several countries in Africa and Latin America. He added that the crisis could accelerate India's shift toward cleaner energy, highlighting progress in solar power, ethanol blending, natural gas expansion, and hydrogen fuel development to reduce reliance on costly imports.