The government has withdrawn most provisions of the emergency natural gas supply regulation order imposed during the West Asia conflict after liquefied natural gas (LNG) shipments through the Strait of Hormuz resumed following a ceasefire.
India's wholesale price-based inflation surged to 11.39 per cent in September, up from 9.92 per cent in August, primarily driven by increasing prices of food, manufactured items, and fuel and power.
The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister Narendra Modi's vision for a gas-based economy and raising the share of the environment-friendly fuel in India's energy basket, an industry body that represents the likes of Reliance Industries as well as state-owned firms, has said. Natural gas is currently outside the ambit of GST, and existing legacy taxes -- central excise duty, state VAT, central sales tax -- continue to be applicable on the fuel. In its pre-Budget memorandum to the finance ministry, Federation of Indian Petroleum Industry (FIPI), which boasts of members from across the oil and gas spectrum, also demanded rationalisation of GST on transportation of natural gas through pipeline as well as on re-gasification of imported LNG to help bring down cost of the environment friendly fuel.
Prime Minister Narendra Modi on Thursday discussed with a group of senior ministers the prevailing global security situation and how to maintain supply chain uninterrupted despite conflicts in different zones, including the Strait of Hormuz, the Black Sea, the Red Sea, and the Gulf of Aden.
Petrol pump dealers seek exemption from the proposed 5 UPI charge on fuel purchases above 2,000, citing pressure on their margins.
The draft note proposes raising gas price for ONGC to Rs 3,765 per thousand cubic meters from current Rs 3,200 per thousand cubic metre. For OIL, the gas price has been proposed at Rs 4,205 per thousand cubic metres. The price would change by Rs 55 per thousand cubic metre for every 10 points change in Wholesale Price Index.
Questioning the idea of market-determined prices for natural gas favoured by the petroleum ministry, the Planning Commission said on Tuesday that given the shortage of the fuel, the government had a role to play.
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
'If crude remains above $100 per barrel, with restricted retail-price increases, OMCs could face negative petrol and diesel marketing margins, higher LPG under-recoveries, higher crude-landing, freight and insurance costs, working capital and debt accumulation and inventory losses if crude subsequently corrects sharply.'
US President Donald Trump is expected to sign the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 later on Friday (local time). A White House official confirmed the development to ANI without revealing further details.
The Union petroleum ministry has proposed a 44 per cent increase in prices of natural gas sold under the administered price mechanism by state-owned Oil & Natural Gas Corporation and Oil India Ltd.
Researchers at IIT Kanpur have found that 20 per cent ethanol-blended petrol (E20) does not significantly reduce fuel efficiency or harm vehicle engines, contradicting social media claims and providing reassurance amidst its nationwide rollout. The study supports the Oil Ministry's stance on E20's benefits.
Deora, who met Mukherjee on Monday afternoon to present his ministry's Budget wishlist, also discussed the deregulation of fuel prices.
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
An IndianOil officer, Mahesh Shelke, was fatally attacked with a sharp weapon while inspecting a petrol pump in Hingoli district, Maharashtra. Petroleum Minister Hardeep Singh Puri and Indian Oil Corporation have called for swift and strict action against those responsible. The incident draws parallels to the 2005 killing of another IOC officer, S Manjunath.
Companies like Reliance Industries, which plans to produce natural gas from KG basin from 2008, will have to invite bids from consumers to discover the price of output under a new exercise adopted by the government.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
The government is identifying households with both liquefied petroleum gas (LPG) and piped natural gas (PNG) connections to enforce a ban on dual ownership, aiming to curb misuse and better target subsidies amid global energy supply disruptions.
The government has introduced a mandatory 25-day gap between LPG cylinder bookings due to supply concerns arising from global disruptions and tensions in the Strait of Hormuz. This measure aims to prevent hoarding and prioritise essential non-domestic sectors, while domestic LPG production is being increased to mitigate shortages.
The petroleum ministry has prepared a draft Cabinet note for raising prices of natural gas produced by ONGC from fields given to it on nomination basis to Rs 3,765 per thousand cubic metres (or $1.98 per million British thermal unit) from current Rs 3,200 per thousand cubic meter ($1.68 per mmBtu). For OIL, the gas price has been proposed at Rs 4,205 per thousand cubic meters, a senior ministry official said.
'India should not trade away its energy security for temporary tariff relief. Neither signing a trade agreement nor stopping Russian oil purchases can protect it from future US action.'
A meeting of the Group of Ministers on freeing natural gas pricing from government control would be held next month, Petroleum Minister Ram Naik said in Lok Sabha on Thursday.
The government may in 'weeks' decide on raising price of natural gas produced by state-owned ONGC and Oil India by 30 per cent, petroleum secretary S Sundareshan said on Monday.
The government has asked Reliance Industries to supply natural gas from the company's eastern offshore D6 fields to the beleaguered Dabhol power plant, a segment that gets top preference for gas allocation along with fertiliser units.
The government on Thursday restored liquefied petroleum gas (LPG) supplies to commercial consumers such as hotels, restaurants and other businesses to pre-crisis levels, and lifted sector-specific restrictions imposed during the recent West Asia conflict, in a sign that energy supply concerns are easing as global markets stabilise.
Domestic output is stagnating and the expensive LNG will meet the rising energy demand of the growing economy.
The Bombay High Court has ordered major social media platforms, including Meta, X Corp, and Google LLC, to immediately remove 'vile, abusive, obscene, and defamatory' deepfakes and AI-generated content targeting Union Minister Nitin Gadkari, emphasising the urgent need for online platforms to curb malicious digital content.
Despite decades of efforts towards energy transition, oil will remain the critical energy source for all nations for some decades. We can hope for peace opening the Strait of Hormuz, but must prepare for war closing it, points out former foreign secretary Ranjan Mathai.
The Supreme Court has dismissed a Public Interest Litigation (PIL) seeking mandatory and uniform labelling of ethanol percentage in petrol at fuel pumps. The petitioner, Narendra Kumar Goswami, was advised to approach the jurisdictional high court for relief, with the Attorney General arguing it was a proxy litigation.
Trade and business associations across India are organising a 'No UPI Day' on October 2 to protest the upcoming 0.4 per cent merchant discount rate (MDR) on Unified Payments Interface (UPI) transactions exceeding 2,000, effective from October 15.
The Supreme Court is set to hear a petition seeking mandatory and uniform labelling of ethanol percentage at petrol pumps and a public database on vehicle compatibility with ethanol-blended fuel. The plea also calls for an expert committee to assess the impact of E20 fuel on vehicles, environment, and food security, and a consumer disclosure protocol.
Dharmendra Pradhan's political career faced an unexpected jolt as he resigned as Education Minister following nationwide protests over the NEET paper leak, marking a significant departure from the government's initial dismissive response to the agitation.
As the government began consultations with stakeholders on raising gas prices, gas producers and consumers met a committee of secretaries separately with their pleas on the issue.
The government has mandated that cooking gas LPG supply to households will be discontinued if consumers fail to switch to piped natural gas where such connectivity is available, under a new order aimed at accelerating gas network expansion and reducing reliance on a single fuel.
The Indian government has refuted claims of an impending Rs 25-28 per litre hike in petrol and diesel prices post-assembly elections, stating no such proposal is under consideration by the Ministry of Petroleum and Natural Gas.
