For the current fiscal, the import bill has been pegged at $66 billion at an average import price of $48 per barrel
Petrol price on Wednesday touched a new high of Rs 84.45 per litre in the national capital after state-owned fuel retailers hiked prices after a five-day hiatus. Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies. In Delhi, petrol now costs Rs 84.45 per litre and diesel is priced at Rs 74.63. In Mumbai, petrol comes for Rs 91.07 a litre and diesel for Rs 81.34. This is the highest ever price of petrol in Delhi, while diesel is at a record high in Mumbai.
The rupee had shed 10 paise to close at 66.14.
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.
It has gained by 23 paise or 0.36 per cent in two days
Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses accumulated from keeping rates steady for over four months in the run-up to assembly elections in five states, including UP, despite international oil prices jumping to a 13-year high of $140 per barrel. West Texas Intermediate crude futures, the US oil benchmark, rose to $130.50 per barrel on Sunday evening, its highest since July 2008, before retreating. The international benchmark, Brent crude, hit a high of $139.13 at one point overnight, also its highest since July 2008.
The rupee slumped to 64-level against the American currency, its second straight fall this week.
Strong recovery in the equity market boosted the rupee value against the dollar.
There was fresh dollar demand from banks and importers.
Rupee is likely to remain under pressure due to domestic concerns.
'We look forward to seeing them show off their knowledge and hard work as they square off against the dictionary on the national stage.'
The rupee edged higher by three paise to 66.46 against the US dollar in early trade on Wednesday.
Increased demand for the American unit from importers weighed on the rupee
The rupee on Friday closed 10 paise higher at 65 against the US dollar on fresh selling of greenback by banks.
Oil sank to the lowest level in a month after shedding all of its gains from the US-Iran clash as traders waited to see whether any further hostilities will disrupt exports from the East Asia.
The rupee on Friday snapped its two-day gaining streak against the US dollar.
.jpg)
Rupee rebounds 26 paise against dollar; snaps 2-day losses
Robert Solis, the man convicted of murdering Sandeep Dhaliwal, the first turbaned Indian-American Sikh police officer in the US state of Texas while making a traffic stop in 2019, has been sentenced to death, according to a police official.
Cooking gas LPG price on Wednesday was hiked by Rs 15 per cylinder in line with a surge in international fuel prices. Rates of both subsidised and non-subsidised LPG prices were hiked, oil company officials said. Cooking gas now costs Rs 899.50 per cylinder in Delhi.
No change in retail prices as oil marketing firms to absorb increase
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
Rediff readers tell us how they are celebrating Ganeshotsav this year.
The rupee has lost 32 paise, or 0.50 per cent, in five trading days
The rupee weakened even as the dollar fell against major global currencies
The Consumer Price Index-based inflation rose to 5.11% in January
Prices are sustainable and not just driven by speculative gains
US commercial crude oil stocks were forecast to have risen by 3 million barrels last week
Over the previous eight sessions, Brent had lost about $7 a barrel, almost 20 per cent
Prominent deep-pocketed investors are lined up to finance Major League Cricket, the world's top players are supposedly ready to sign on and, according to the ICC and USA Cricket research, there is a baked-in fan base of between 15 and 20 million waiting to be served.
The rupee ended marginally lower by three paise at 66.36 against the US dollar.
A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven oil prices to their highest level in nearly four months. The attack has knocked out over half of Saudi Arabia's production as it cut 5.7 million barrels per day or over 5 per cent of the world's supply.
The rupee had lost 27 paise to close at more than 5-week low.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
A government official said out that with hardly any economic activity, an immediate duty hike will not be productive and could be announced once the lockdown eases and demand revives.
However, the hefty initial gains of the rupee, which had jumped to 61.05 intra-day, were substantially erased on month-end demand for US dollars from private oil firms and some defence-related purchases, amid fall in domestic stocks.
The rupee ended the day stronger against the dollar.
The IPL franchises are now expanding their bouquet of teams across leagues in the West Indies, UAE, South Africa and now the US is another untapped market that wasn't explored despite the Asian diaspora craving for some cricket.
While OPEC has been unable to agree on an output freeze in an effort to support prices, Iraq was the latest Middle East producer to raise its exports quota
The rupee had dropped by 18 paise to end at 66.40
Rupee gained on increased selling of the US currency by banks and exporters
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances