Petrol Diesel News: The war between Iran and America has started once again. Due to which once again people are scared whether inflation will increase again? Once again there is a crisis situation due to the war on Hormuz, due to which it seems that the prices of petrol and diesel will increase again. However, at present nothing like this has been said by the government. But still let us understand what the government can do in such a crisis situation.

rising prices of crude oil
Crude oil prices had increased in the months of March and April. Due to which the government had to increase the prices of petrol and diesel in May. Due to which the general public was greatly troubled. So now once again the situation is the same. Because the Iran-America war has started, due to which the prices of crude oil have increased once again. Today i.e. on Tuesday, the price of Brent crude oil has become around Rs 86 dollars per barrel.

Also read: Digital Rupee: What is Digital Rupee, how different is it from UPI and what are the risks in it?

The government has two ways
In the current situation, the government has two options: either it can put the entire burden on the public by increasing the prices of petrol and diesel, or it can take the entire burden on itself by reducing taxes. Although at present the government has not said anything like this, still there is a lot of tension in the minds of the public due to the continuous increase in the prices of crude oil.

There is pressure on oil companies also
If anyone is under more pressure than the public at this time, it is the oil companies, because the cost of oil has the biggest impact on the government oil companies. Indian Oil Corporation Limited (IOCL) – Government companies like Bharat Petroleum Company Limited (BPCL) and Hindustan Petroleum (HPCL) are sometimes not able to increase prices immediately due to political and social reasons. Due to which pressure falls on them and companies suffer losses.

According to government data, by June 2026, the total under-recovery of these companies had reached Rs 2.19 lakh crore. This means that companies continued to sell fuel below cost for a long time. Now, if a similar situation arises again, the pressure on oil companies will increase again.

Also read: India-US Trade Deal: ‘Farming will be ruined’, farmers protest against India-US trade deal in Punjab, what are the demands?

Prices had increased in May
The war between Iran and the US was going on since February, but the government reduced taxes till April and did not let the pressure of rising prices come on the people. But when pressure increased on the government and oil companies, the government decided to increase the prices of petrol and diesel. The prices of petrol and diesel increased 4 times in the month of May. If once again the prices of crude oil exceed Rs 100 per barrel, the government and oil companies will once again come under pressure. Then the government will be left with only two options. Now it has to be seen whether the government puts the burden on the public in advance or manages the situation for some time.

Iran Crude Oil News: After the Iran war, amid tension on Hormuz, strict sanctions and blockade, Indian ships have become a threat. According to reports, a large consignment of crude oil from Iran has reached the Indian coast. It is being told that in the last one week, India has purchased about 60 lakh barrels of oil from Iran. Its third consignment has reached the ports today.

While oil prices are skyrocketing across the world due to yet another war, India is using diplomatic channels to meet its energy needs. According to the latest information, Iranian supertanker ‘Dorna’ has reached the southern coast of India carrying 2 million barrels of crude oil. This is the third big consignment to reach India within the last seven days. Earlier, tankers named ‘Felicity’ and ‘Jaya’ have also delivered oil to Indian ports. Overall, India has so far received 60 lakh barrels of Iranian crude oil.

Oil is about to be delivered to the local refinery

According to reports, ‘Dorna’ was last seen in Iranian waters when the blockade was about to be imposed there. This tanker has again appeared near the Indian coast on the Automatic Identification System and is soon going to offload oil to the local refinery.

Let us tell you that this consignment has come at a time when Iran closed Hormuz a day after completely opening it for commercial ships. However, this consignment had passed before the closure of Hormuz. Now Iran has announced to keep strict control on the ships passing through there. Just today the news came that Iran opened fire on an Indian ship crossing Hormuz.

India bought oil from Iran after seven years

The big thing about the Iran India deal is that India is using Chinese Yuan instead of dollars to pay for this oil, so that the impact of sanctions can be avoided. India has resumed importing oil from Iran after a long gap of about seven years. Taking advantage of the temporary relaxation in American sanctions, India took this strategic step.

Also read-

By secretly giving a shock to US, India became a ‘big boss’, made huge payment for oil to Iran in Chinese Yuan

Amidst the increasing tension in Iran-US, the Central Government has taken a big step regarding the security of Indian maritime trade. The Union Cabinet has approved Bharat Maritime Insurance Pool of Rs 12,980 crore. This decision has been taken at a time when news of Iran firing on Indian ships near the Strait of Hormuz has come to light today, which has increased concerns about the security of sea routes.

Information given on social media
The Indian Finance Ministry has given information about this by tweeting from its official x (Twitter) handle. It is written in this post, ‘The Cabinet has approved the proposal to create ‘Bharat Maritime Insurance Pool’ (BMIP). For this, the government will give a guarantee of about Rs 12,980 crore, so that the ships continue to get insurance protection. It was further written, ‘This domestic insurance pool helps to deal with situations like increasing uncertainty in the world and tensions between countries and reduces the need for Indian ships to depend on foreign insurance companies.’

Cabinet has approved the proposal for creation of ‘Bharat Maritime Insurance Pool’ (BMIP) with a sovereign guarantee of Rs 12,980 crores to facilitate continuous maritime insurance coverages.

The Domestic Insurance Pool addresses global volatility, geopolitical instability… pic.twitter.com/xMz5kZWRKU

— Ministry of Finance (@FinMinIndia) April 18, 2026

It is further written in this post, ‘This insurance pool covers all types of risks related to sea, such as ship (hull and machinery), cargo (cargo), ship owner’s liability (P&I) and war related risks. It also provides security to those ships which are coming to India with goods from any country in the world, even if they have to pass through any sensitive or risky sea area on the way.

This decision was necessary
Under this scheme, Indian ships will get insurance cover at low premium. If any ship is damaged due to war or conflict, compensation will be given from this fund. This will reduce the risk of shipping companies and international trade will be able to continue without interruption. This decision is considered very important in view of the increasing tension in sensitive areas like Hormuz. A large part of the Indian economy depends on maritime trade, and in such a situation, taking care of the safety of ships is the most important step.