A hike in diesel and domestic LPG prices has been deferred for now, but an increase in petrol prices later this week looks imminent.
Petrol, diesel, LPG and kerosene prices are unlikely to be revised immediately as the Congress-led Government, which is yet to assume office
With a high-powered ministerial panel on fuel pricing being scrapped, a cabinet committee may consider raising the prices of diesel, LPG and kerosene, Oil Minister S Jaipal Reddy indicated on Wednesday but refused to say when the issue would be taken up.
Celerio's 793-cc diesel engine is the smallest in the market.
Left leaders Sitaram Yechury and A B Bardhan on Thursday shared dais with Bharatiya Janata Party's Nitin Gadkari and Murli Manohar Joshi at a demonstration against FDI in retail and hike in diesel prices.
Centre and state governments are steadily increasing excise duties and value-added tax
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
On December 5, the government had announced a Rs 5 per litre and Rs 2 a litre reduction in petrol and diesel prices, respectively, as global crude prices hovered around four year lows.
Petrol price was on Monday hiked by Rs 2.19 a litre and diesel by 98 paise per litre.
Making a case for increasing prices of petroleum products and deregulating diesel prices, the Reserve Bank on Monday said these steps are necessary to contain fiscal slippages and arrest decline in growth.
The increase in rates announced by oil firms is excluding state levies and the actual hike will be higher.
The goverment on Wednesday ruled out any increase in petrol and diesel prices despite international crude oil prices touching an all-time high.
Government earlier this month cut petrol price by Rs 5 a litre and diesel by Rs 2 per litre as crude oil prices dipped from an all-time high of $147 a barrel in July to under $45 a barrel. Even after the price cut, public sector oil firms were making a profit of Rs 9.98 on sale of every litre of petrol and Rs 1.03 per litre on diesel.
In June, the government had decontrolled petrol, causing a hike of Rs 3.5 per litre, and increased diesel prices by Rs 2 a litre, LPG by Rs 35 a cylinder and kerosene by 3 a litre -- amid protests by opposition parties.
Petrol price will be cheaper by 49 paise/litre and diesel by Rs 1.21.
The Cabinet Committee on Economic Affairs on Wednesday deferred a decision on the package on pricing and distribution of sensitive petroleum products.
Buckling under pressure, the government on Wednesday cut the excise duty on petrol and diesel by Rs 5 and Rs 10 respectively to bring down retail rates from record highs. The announcement comes on the eve of Diwali which will help bring down the skyrocketing prices of fuel and provide some relief to the common man battling inflation.
Cooking gas price was on Saturday hiked by Rs 11.42 per cylinder following government decision to raise commission paid to the dealers.
Petroleum ministry has sought an increase of Rs 2.50 per litre in petrol and Rs 1.30 per litre in diesel prices in line with hike in tax rates announced in Budget and asked oil firms to bear the impact of surge in global oil prices.
This is the fourth increase in auto fuel prices since May 1
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.
The share of EVs in the luxury segment rose from 7 per cent in January-May 2024 to 11 per cent during the same period in 2025, marking a 66 per cent growth in the electric luxury segment.
The growing rift between MSIL and rival automakers has complicated the government's efforts to finalise the CAFE norms.
This is the third reduction in rates this month
While petrol prices are de-controlled, diesel prices are partially deregulated.
This is the second increase in rates of petrol this month while in case of diesel it wipes away a part of the hike effected earlier this month
What could be more uncertain than Virat Kohli's agonising wait for a century for over two years? Perhaps it's what you will pay tomorrow morning to fill your vehicle's tank. Pump prices have joined cricket scores as the country's favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different.
Buying a car, particularly a diesel-powered one, is set to pinch the customers' pockets even more from the next financial year, as the second phase of Bharat Stage VI (BSVI) emission norms kicks in. The rules require cars to be compliant with real driving emission (RDE) norms, which measure pollutants emitted by cars while they are being driven on the road, unlike in a laboratory test. The norms may increase the cost of producing diesel vehicles by nearly Rs 75,000 to Rs 80,000, and petrol-powered ones by Rs 25,000 to Rs 30,000, analysts said.
The government on Friday ruled out an immediate increase in petrol and diesel prices in line with rise in international oil prices.
One of the challenges on diesel engine is refinement.
The government will cut petrol and diesel prices when there is a sustained drop in global crude oil prices, Petroleum Minister Murli Deora said on Tuesday.
The movement of prices in the international oil market and rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
Petrol prices may be raised by about Rs 2 per litre and diesel rates cut by Rs 0.30 a litre if a proposal to free auto fuel prices from state control is approved by the incoming cabinet.
Actual reduction in price will be more after taking into account local VAT.
The government said on Monday it is examining whether domestic petrol and diesel prices can be reduced in line with the fall in global crude oil prices.
Rising crude oil prices are alarming, says PM. He considers all possible options to deal with it.
Diesel prices are still under control with subsidies.
The government on Thursday ruled out any rollback in hike in prices of petrol and diesel, saying a number of steps had been taken to contain the burden of increase on consumers.\n\n
