Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
In New Delhi, state Congress president Anil Kumar and party workers were detained by police at a petrol pump near Parmanand hospital.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
Sources say that this is a part of the government's efforts to mitigate the spurt in global oil prices.
The government will look into the issue of revising the petrol and diesel prices in view of the steep increase in international crude oil prices, the new Minister for Petroleum and Natural Gas Mani Shankar Aiyar said on Monday.
On the rise in petrol prices, Union Minister Alphons Kannanthanam queried, "Who buys petrol... somebody with car, somebody with a bike. Certainly, they are not starving... somebody who can afford to pay has to pay."
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
Opposition parties are demanding a full Parliament discussion on the West Asia conflict, criticising the government's silence and calling for a contingency plan to protect India's energy security and citizens.
Gandhi said the one paisa cut in petrol rates was not a "suitable response" to the fuel challenge he threw to the prime minister a few days ago.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
This would signal the third straight month of contraction.
Reliance Industries Limited (RIL) faced a challenging fourth quarter, with its energy business experiencing significant headwinds, leading to overall muted results and prompting analysts to adjust their outlook, even as consumer segments like Jio and retail demonstrated robust growth.
West Bengal Chief Minister Mamata Banerjee has demanded Prime Minister Narendra Modi's resignation, alleging manipulation of voter lists during the Special Intensive Revision (SIR) in West Bengal. She also questioned the abrupt resignation of Governor C V Ananda Bose and accused the BJP of anti-women policies and spreading misinformation.
With this increase, diesel prices have touched a record high while petrol is at a 56-month peak.
Besides the four Left parties, the All India Anna Dravida Munnetra Kazhagam, Telugu Desam Party, Samajwadi Party, Biju Janata Dal, Janata Dal-Secular and Indian National Lok Dal "have decided to call for a country-wide hartal on July five", a joint statement by top leaders of CPI-M, CPI, Revolutionary Socialist Party and Forward Bloc said in New Delhi.
S&P Global Ratings has increased India's GDP growth forecast for the next fiscal year to 7.1 per cent, citing private consumption, investment, and exports as key drivers. However, the agency also cautioned that the conflict in the Middle East could strain India's fiscal position due to higher energy prices.
The aviation turbine fuel (ATF) prices have been raised by Rs 2,750 per kilolitre effective midnight tonight, Indian Oil Corporation (IOC).
Indian stock markets tumbled sharply with the Sensex falling 800 points and nearly 4 lakh crore wiped out in a single session. Here are the 6 key factors, including rupee weakness and global cues, behind the crash.
India is back on the diplomatic table pushing oil producing countries to raise production in a bid to cool down runaway oil prices. Brent crude oil prices traded above $90 a barrel, on Thursday, for the first time since 2014. Brent is the most popular marker for crude oil trade. It is used as a benchmark for two-thirds of the world's internationally traded crude oil.
FIA is a body of four established domestic private airlines -- Jet Airways, IndiGo, SpiceJet and GoAir.
Opposition MPs in the Rajya Sabha criticised the Modi government's economic policies, citing the LPG crisis, lack of energy security, and concerns over the Economic Stabilisation Fund.
Kabhi haan, kabhi naa... The gossip now is that Rahul Gandhi won't become a Cabinet minister. Even as Congresswallahs wonder what Mamata Banerjee is upto, there is one senior leader in the party who is feeling very grateful towards Didi. To find out more, don't miss this week's Dilli Gupshup.
GoAir recently introduced return zero fare tickets under 'GoHappy Fares' plan, while low-cost arm of Air India, Air India Express offered domestic travellers a fare of Rs 99 plus taxes. Air Deccan, which has been taken over by Kingfisher Airlines and Spicejet are already in the race offering such sops. For AI Express, which has been primarily operating on international routes, this is an effort to reach out to the domestic market.
IndiGo operator InterGlobe Aviation had a mildly encouraging third quarter in financial year 2026 (Q3FY26).
India's top fuel retailers IOC, BPCL and HPCL together lost around $2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during elections in five states, including Uttar Pradesh, Moody's Investors Services said on Thursday. State fuel retailers did not revise petrol and diesel rates for a record 137 days despite prices of crude oil (raw material for producing fuel) rising to $120 per barrel compared to around $82 in early November when the hiatus began. "Based on current market prices, the oil marketing companies are currently incurring a revenue loss of around $25 (over Rs 1,900) per barrel and $24 per barrel on sale of petrol and diesel, respectively," Moody's said in a report.
Petrol price on Monday neared Rs 100-a-litre mark in the national capital after the rate was hiked yet again. Petrol price was increased by 35 paise per litre while there was no change in diesel rates, according to a price notification from state-owned fuel retailers. In Delhi, the petrol price soared to Rs 99.86 per litre. Diesel rates were unchanged at Rs 89.36.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
Asked if petrol and diesel prices would be raised on October 15, the next due date for auto fuel price revision, Aiyar said: "Only God knows and the prime minister know."
Air fares to go up as ATF price is hiked by 8.2%.
Petrol price will go up by Rs 3.18 per litre, diesel by Rs 3.09.
Reliance Industries' digital arm, Jio Platforms, may see its initial public offering (IPO) delayed to the second half of fiscal 2027, according to CreditSights. The delay is primarily attributed to ongoing geopolitical tensions in the Middle East, which could impact market conditions and investor sentiment.
The International Energy Agency (IEA) has proposed immediate demand-side measures, including remote work, lower speed limits, and reduced air travel, to mitigate the impact of a global oil supply shock caused by Middle East disruptions.
Aviation turbine fuel rates in Delhi were raised by Rs 1,297, or 3.2 per cent, to Rs 41,489 per kilolitre effective midnight tonight, said an official of Indian Oil Corporation, the nation's largest oil marketing firm.
India's manufacturing sector experienced a mild recovery in April, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) rising to 54.7 from 53.9 in March. However, inflationary pressures intensified, with input costs increasing at the fastest pace since August 2022, largely attributed to the Middle East conflict.
Gold prices experienced a significant drop in futures trading due to global selloff, inflation concerns, and a strong US dollar. Analysts predict a continued downward trend amid geopolitical tensions and potential rate hikes.
According to reports, the price of petrol is expected to go up by Rs 5 and diesel by Rs 6.
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.
National oil companies are swimming with the downward current in the stock market, which plummeted to psychological level of below 10,000.
Still battling the fallout of last month's steep Rs 7.54 a litre hike in petrol price, the government on Friday said it is not considering raising rates of diesel, domestic gas (LPG) and kerosene for the moment.
