Jio-BP Holds Fuel Prices in India
Analysis based on 6 articles · First reported Apr 10, 2026 · Last updated Apr 10, 2026
The decision by Reliance Industries — Jio-bp to not raise fuel prices, contrasting with Nayara Energy and Shell plc, is expected to positively impact Reliance Industries — Jio-bp's market share and sales volume. The Indian government's excise duty cut helps mitigate inflation concerns for consumers.
Reliance Industries — Jio-bp, a joint venture of Reliance Industries and BP, announced its decision to not raise fuel prices in India, despite international oil prices exceeding $100 per barrel due to the war in West Asia. This move contrasts with competitors like Nayara Energy and Shell plc, which have increased their fuel prices. Reliance Industries — Jio-bp's CEO, Akshay Wadhwa, stated the company's commitment to the country, leading to a 30% increase in petrol sales and a 25% increase in diesel sales in March. The Indian government has also contributed to insulating consumers by cutting excise duty on petrol and diesel.
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