Hours after the United Progressive Alliance government increased petrol and diesel prices today, the Left parties announced nationwide demonstrations against the hike, which are likely to be held on June 28.
The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be closely monitored
The hike in prices of petrol and diesel seems to have been put on the backburner with the price of the basket of crude oil that Indian refiners
Petrol price was on Monday hiked by Rs 2.19 a litre and diesel by 98 paise per litre.
The increase in rates announced by oil firms is excluding state levies and the actual hike will be higher.
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
The last revision was done in June wherein passenger fares were revised by 4.2 per cent and freight rates by 1.4 per cent.
Technical Advisory Committee was for status quo in policy rate on little hope of government action.
This is the fourth increase in auto fuel prices since May 1
Petroleum Minister Murli Deora has announced that the cabinet will soon take a decision on fuel price hike.
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
Petrol and diesel prices on Thursday climbed to fresh highs in the country as rates were hiked by the most in recent times, even as fuel retailers said the government can cut taxes to ease consumer burden. Petrol and diesel price was hiked by 35 paise per litre each after a gap of a week, according to price notification of state-owned fuel retailers. The increase took petrol prices to a fresh high of Rs 86.65 a litre in Delhi and to Rs 93.20 in Mumbai.
Petrol will cost Rs 3.73 per litre more from today (Friday), while diesel prices have been increased by Rs 2 a litre. Also, your cooking gas cylinder will now cost Rs 35 more, while kerosene will be priced Rs 3 per litre more.
Petrol price will go up by Rs 3.18 per litre, diesel by Rs 3.09.
State-run oil companies on Monday increased prices of diesel and petrol by Re 1 per litre each.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
Cooking gas LPG price was on Thursday hiked by Rs 3.50 per cylinder, the second increase in rate this month following the firming of international energy rates. Non-subsidised LPG now costs Rs 1,003 per 14.2-kg cylinder in the national capital, up from Rs 999.50 previously, according to a price notification of state-owned fuel retailers. This is the second increase in LPG rate this month and the third in less than two months. The price was hiked by Rs 50 per cylinder on March 22 and again by the same quantum on May 7.
Petrol price will go up Rs 3.73 a litre if the domestic prices are aligned with international rates.
The government ruled out any major jump in petrol and diesel prices after the elections, but said a review to bring the domestic prices in line with the raw material cost will be done by the new government.
The Ministry Of Petroleum and Natural Gas has ruled out a hike in the prices of petrol and diesel in the near future even as the price of the Indian basket of crude oil continues to remain above $65 a barrel.
The government is considering a 3-rupee to 5-rupee hike in the price of diesel, which accounts for more than 40 percent of fuel use, government officials said last week, as the country looks to cut import costs by nearly $20 billion to trim a record current account deficit.
Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Non-subsidised LPG now costs Rs 1,053 per 14.2-kg cylinder in the national capital, up from Rs 1,003 previously, according to a price notification of state-owned fuel retailers. Common households pay non-subsidised rates for the cooking gas they buy, after the government restricted subsidy to just poor beneficiaries who got connections under the Ujjwala scheme.
Prime Minister's Economic Advisory Council Chairman C Rangarajan on Thursday pitched for a "substantial" increase in prices of diesel and cooking gas, saying failure to take strong steps would derail the fiscal consolidation process.
Petrol price on Tuesday was increased by 15 paise per litre and diesel by 18 paise as State-owned fuel retailers started passing on the increase in international oil prices to consumers after an 18-day hiatus.
This is the fourth increase in rates in six weeks
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 positive impact of the February 14 hike in petrol and diesal prices on oil marketing companies has been negated in just a fortnight with daily retail losses of these companies going back to over Rs 410 crore (Rs 4.1 billion) for the fortnight ended February 29. This is due to the steep rise in global crude prices in recent days. The retail prices were hiked by Rs 2 per litre for petrol and Re 1per litre for diesel.
Pattali Makkal Katchi founder S Ramadoss said that Prime Minister Narendra Modi should meet the expectations of the people that prices will go down if he took over and 'it is the duty of the new government to do that.'
Petrol price has been hiked by Rs 1.82 a litre, excluding taxes, with effect from midnight tonight.
A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry and Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
When missiles fly in this region, they are never just aimed at military targets.
GCMMF member daires do not rule out the possibility of price rise.
Hardening prices of manufactured items during the month may refrain the Reserve Bank of India from cutting rates in its policy review on February 8.
The empowered group of ministers on fuel pricing is to meet this week to take a view on the price of diesel.
A week after the steep hike in petrol prices by Rs 5 a litre, the government on Monday said a ministerial panel is likely to meet in the next few days to take a decision on raising diesel, LPG and kerosene rates.
The ministry, however, clarified that there was no change in the prices of kerosene and LPG.
The government on Tuesday ruled out any further increase in diesel and cooking fuel prices even though the current retail rates are lower than their cost of production.
New prices are effective tonight.
Petrol and diesel prices were hiked by 80 paise a litre each on Wednesday, taking the total increase in rates in 16 days to Rs 10 per litre.
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.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances