Over the past two decades, India has witnessed several major petrol price hikes, driven by global crude oil fluctuations, economic crises, currency depreciation and geopolitical conflicts. How did we get from Rs 34 to over Rs 100 today
Public sector oil marketing company Indian Oil Corporation (IOC) will raise prices of petrol by 27 paise a litre, - for the first time since decontrolling petrol prices.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
With features usually seen in more expensive cars and segment-first paddle shifters, the Tiago offers excellent value for money, says Rajesh Alva/Rediff.com.
'At the first sign of real trouble, that money will move. There will be a run.'
In an interview with Ajay Modi & Jyoti Mukul, ONGC chairman R S Sharma says uncertainties continue in the business even after decontrol of petrol prices.
India's fertiliser subsidy bill for the current financial year (FY27) is projected to increase by approximately 20% due to surging global prices, primarily driven by the West Asia crisis, a senior official confirmed. Despite this, retail prices for urea and di-ammonium phosphate (DAP) will remain unchanged, ensuring adequate supply for the kharif season.
IOC urged the government to cut excise duty by Rs 8 (the current revenue loss) to Rs 6.78 per litre. It also demanded a cut in state-level taxes.
As India marks a decade of the Goods and Services Tax (GST), the focus is shifting towards enhancing efficiency through artificial intelligence, data sharing, and process simplification. The reform, which unified India's indirect tax system, has significantly broadened the tax base and boosted revenues, with future plans including a streamlined two-tier rate structure and continued technological integration to reduce compliance costs and combat evasion.
State-owned oil firms may hike petrol price by about Rs 0.50 per litre from June 16 as last month's steep increase in rates is not enough to cover the cost of raw material (crude oil).
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
Rather than complaining about the rise in petrol prices, Aditya Prasad suggests some really simple steps to deal with it.
In a marginal relief to consumers, IndianOil, the biggest oil marketing company, has cut petrol prices by Rs 0.56 per litre with effect from midnight today.
The increase in petrol price, which the oil firms had been holding since January even though crude oil had touched a two-and-a-half-year high, came a day after election results of five state assemblies were announced.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Tata Motors emerged as the biggest gainer in the passenger vehicles (PV) market in the second half of FY25, following a GST rate cut in September, achieving the highest growth among major OEMs and overtaking Mahindra & Mahindra in volumes.
Petrol price can go down to Rs 75 a litre across the country if brought under the ambit of the Goods and Services Tax (GST), but there is a lack of political will, which is keeping Indian oil product prices at one of the highest in the world, economists at SBI said on Thursday.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Petrol price has been cut by Rs 2.46 a litre with effect from midnight tonight.
Petrol price was on Monday hiked by Rs 2.19 a litre and diesel by 98 paise per litre.
Petrol price on Friday was hiked by 30 paise a litre and diesel by 35 paise per litre as domestic fuel prices witnessed possibly the largest rally in rates. The price of petrol in Delhi rose to its highest-ever level of Rs 103.54 a litre and to Rs 109.54 per litre in Mumbai, according to a price notification of state-owned fuel retailers. Diesel rates too touched a record high of Rs 92.12 in Delhi and inched closer to the Rs 100-a-litre mark in Mumbai. It currently costs Rs 99.92 a litre in Mumbai.
Indian equity markets experienced a volatile session, with the Sensex and Nifty recovering some ground after a significant plunge the previous day. Gains were driven by PSU bank, IT, and metal stocks, but concerns over rising fuel prices and geopolitical tensions limited the recovery.
TMC leader Abhishek Banerjee accuses the BJP of attempting to alter West Bengal's demography by importing voters from other states ahead of the 2026 assembly elections, alleging a conspiracy to undermine the democratic rights of local residents.
Saudi Arabia's steep cut in LPG benchmark prices has pushed India's household LPG underrecoveries to their lowest level in over two years, slashing oil companies' losses from Rs 200-250 per cylinder last year to about Rs 20-40 now.
With its Battery-as-a-Service (BaaS) model Tata Motors just redrew the EV battle lines, says Rajesh Karkera/Rediff.com
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
Government schemes such as the PM E-Drive initiative, with allocations of around Rs 2,000 crore for charging points deployment, are helping accelerate rollout
Petrol and diesel prices on Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar, making imports costlier
In absolute terms, both types of cars must cut emissions by about 28-29 g/km. But in percentage terms, the lighter 900-kg car must reduce emissions by 27 per cent, while the 1,500-kg car needs a 22 per cent cut. And the target becomes progressively stringent for both -- but, once again, the tightening is sharper for the 900-kg car than for the 1500-kg car.
Petrol price cut by Rs 1.46, diesel by Rs 1.53 per litre
Days after a Rs 3 per litre rise in petrol prices, it is the turn of compressed natural gas. Indraprastha Gas (IGL), monopoly marketer of CNG in and around this metropolis, is looking at raising the price by up to six or seven per cent (Rs 2 per kg) sometime next week, due to higher cost on account of a weakening rupee.
In a much-needed relief to cash-strapped airlines, this is the second straight monthly reduction in rates and the biggest single cut ever.
'Growth will definitely continue to come most from the sub-four-metre SUV segment, primarily because that is where the heart of economy and affordability is. Naturally, that will keep pushing the share of that segment (in overall PV sales) higher.'
In terms of safety, the Victoris has scored 5 stars in both GNCAP and BNCAP tests and that's a first for Maruti, observes Somnath Chatterjee.
The fuel price hike for the last 16 days had caused inconvenience and disappointment among the general public.
Petrol prices in India are amongst the highest in the world.
Petrol and diesel prices were on Wednesday hiked by 24-25 paise per litre, the steepest increase since July 5 Union Budget, as a fallout of turmoil in global oil markets following drone attacks on Saudi Arabian crude oil facilities.
