India approves ₹10,000 croreapproves ₹10,000 crore aviation fuel stabilisation fund
India's Union Cabinet on Wednesday approved a one-time ₹10,000 crore price stabilisation fund for oil-marketing companies to help manage aviation turbine fuel costs.
The move comes as jet fuel prices rise amid conflict in West Asia, and it is meant to reduce pressure on airlines and help limit fare spikes for passengers.
- India is the world's third-largest domestic aviation market by passenger traffic.
- Jet fuel usually makes up one of the biggest operating costs for airlines.
- Indian governments often intervene in fuel markets when price shocks threaten transport and inflation.
US-Iran Ceasefire War
The United States launched military strikes against Iran on June 26, 2026, in response to a drone attack on a commercial cargo ship in the Strait of Hormuz, calling it a "foolish violation" of the 60-day ceasefire agreement signed just days earlier[2][4][14].
26 June, 09:35 PM
US launches strikes against Iran following commercial ship attack26 June, 04:47 PM
Trump calls Iran drone attack on cargo ship a ceasefire violation
