Jet fuel prices hit record high in India

The conflict has already strained supply chains across Asia, with India particularly vulnerable due to its reliance on imported crude oil.

Jet fuel prices in India have climbed to unprecedented levels as the ongoing war with Iran continues to disrupt global energy markets. Aviation authorities report that the surge has placed significant pressure on airlines, raising concerns about higher ticket fares and operational costs.

The conflict has already strained supply chains across Asia, with India particularly vulnerable due to its reliance on imported crude oil. The spike in jet fuel prices reflects both the volatility of global markets and the ripple effects of regional instability.

Meanwhile, Sujata Sharma, Joint Secretary of India’s Ministry of Petroleum and Natural Gas, dismissed reports of a crude oil-for-LPG swap deal with Japan. “I am not aware of a swap. Our rules do not allow crude oil for LPG exports,” she said on Wednesday.

Her comments followed a Reuters report suggesting that INPEX, Japan’s largest oil and gas company, had considered supplying liquefied petroleum gas (LPG) to India in exchange for naphtha and crude oil. The ministry’s denial underscores India’s cautious approach to energy trade amid heightened geopolitical tensions.

With jet fuel prices reaching record highs, airlines face mounting financial challenges. Analysts warn that unless global energy supplies stabilize, India’s aviation sector could see significant fare hikes, reduced profitability, and potential disruptions in service.