# Economists at Morgan Stanley India said any near-term adjustment in pump prices is likely to be deferred until polling concludes in Assam, Kerala, Tamil Nadu and Bengal.

*business · news · 2026-04-08 · Telegraph India*

## Key points

- OMCs are expected to raise retail fuel prices after state elections conclude.
- The government has cut special additional excise duty on petrol and diesel by ₹10 per litre each.
- Private retailer Nayara Energy has already increased petrol and diesel prices by ₹5 and ₹3 per litre.
- Morgan Stanley estimates the FY27 fiscal deficit could slip by 0.3–0.5 percentage points due to subsidies and excise cuts.
- Motilal Oswal projects the FY27 fiscal deficit may reach 4.7% if capital expenditure is reduced.

**Companies:** Nayara Energy
**Countries:** India

[Read the full story on Telegraph India](https://www.telegraphindia.com/business/fuel-price-hike-likely-after-state-polls-as-crude-soars-above-130-per-barrel-prnt/cid/2155106)

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