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Recent Current Affairs related to Petroleum

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5 June 2026 NATIONAL

The Union Cabinet has approved a ₹10,000 crore Price Stabilization Fund to support scheduled Indian airlines against rising Aviation Turbine Fuel (ATF) prices. Under this 36-month scheme, the government will provide a ₹10,000 crore interest-free advance to Oil Marketing Companies (OMCs) to cover under-recoveries.

The initiative caps the ATF sale price at ₹115 per litre, with the government compensating OMCs for any losses. The advanced funds will be recovered from OMCs once global prices stabilize and return to the Consolidated Fund of India.

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