No immediate comment was available from airlines on the impact of the price hike on passenger fares.
The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be closely monitored
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.
Petrol price has been cut by 58 paise a litre and diesel by 25 paise with effect from midnight tonight.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
In 16 days, petrol price has been hiked by Rs 8.3 per litre and diesel by Rs 9.46 - a record increase in rates of the fuel in any fortnight since pricing was deregulated in April 2002.
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
India's fuel consumption slumped by over 66 per cent in the first week of April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
This increase excludes local levies. The actual hike after considering VAT would be Rs 2.84 per litre in Delhi for petrol and Rs 2.11 for diesel.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
Jet fuel (ATF) rates were on slashed by a steep 12.5 per cent, the sixth straight reduction in prices since August, as international oil prices slumped to five-year low levels.
Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
Fernandes wanted Coca-Cola Company to not just transfer 60 per cent of the shares of its Indian firm but also the formula for its concentrate to Indian shareholders.
Petrol price was cut by Rs 2.43 per litre and diesel by Rs 3.60 a litre, the third reduction in rates this month.
"The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation," Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
Petrol price had been cut 10 times since August 2014.
Air fares to go up as ATF price is hiked by 8.2%.
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
Diesel in Mumbai costs Rs 79.72 per litre at IOC outlets and Rs 79.79 at BPCL outlets.
The Vedanta group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL).
Movement of prices in international oil market and rupee-USD exchange rate will be monitored
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Aviation turbine fuel to now cost more.
Oil companies on Monday slashed petrol price by Rs 3.02 per litre.
Fuel rates were last revised on February 1 when petrol price was cut by a marginal 4 paise a litre.
HDFC, ONGC, Maruti Suzuki, HeroMoto Corp and Bajaj Auto gained the most on BSE Sensex
The ethanol vehicles will have the flexibility to switch to other fuels
Expecting oil prices to remain under pressure, Fitch Ratings said deregulation of diesel prices in October will help in lowering the under-recoveries (which is nothing but international petroleum prices minus the subsidised retail rates).
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
The rupee had edged higher by four paise to end at 61.51 against the American currency in yesterday's trade on fresh selling of dollars by banks and exporters.
Despite a massive decline in crude oil prices since 2012 -- Modi has been prime minister in six of these eight years -- petrol in Delhi has become 10 per cent costlier and diesel 97 per cent, as of July 2.
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
In Mumbai, jet fuel costs Rs 71,940.36 per kl as against Rs 73,306.89 per kl previously, IOC said.
Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
The loss on diesel sales has inched up marginally to Rs 8.37 a litre even as a surge in international oil rates and a weakening rupee wiped out gains from a 50 paise increase in the price of the fuel.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
The market breadth, indicating the overall health of the market was strong
The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.
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