If sources in the Congress party are to be believed, a hike in the price of petrol, diesel and cooking gas seems "inevitable".
The Congress core group, which includes UPA Chairperson Sonia Gandhi, will meet to vet the proposal before it goes to the Cabinet.
As the Tata Sierra makes a triumphant return as a modern monocoque 5-doorOn November 15, Rajesh Karkera recalls the original SUV that defined his early adulthood.
As the government announced a Rs 7.50 per litre hike in petrol price from midnight, anger was written on the faces of many people.
A graphic showing how the average prices for petrol and diesel have moved over the last ten years.
The government is developing ports across the country as centres for green hydrogen production and export, Sarbananda Sonowal, minister of ports, shipping and waterways (MoPSW) said on Tuesday. "Across the country, over 12 million tonnes of green hydrogen-based e-fuel capacity has been announced.
The government's decision to raise fuel prices in June has scuttled the oil companies' plans to reduce their losses from retail fuel sales as consumers are buying less of premium fuels, which is more expensive than normal fuels.
Most of the participants in our poll believed that the hike in petroleum product prices is a positive trigger for companies.
State-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 180 crore per day.
The government on Tuesday ruled out any rollback of last month's increase in prices of petrol, diesel and LPG, and said a policy for pricing of major petroleum products was under review.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Govt unlikely to cut excise duties to compensate for higher global prices, say analysts.
'The E20 usage accrues the huge benefit to the nation, to the society, to the farmer, to the environment, to the exchequer and all of us'
In a clear move to protect consumers from hardening global oil prices, the government will announce by June 15 a new pricing policy for petrol, diesel and LPG that may include lower duties and targeted subsidies.
The quantum of hike had not yet been worked out, but it was likely to be Rs 2 a litre for petrol and Re 1 a litre for diesel.
'IndiGo will receive a sharp rap on the knuckles -- a punishment, a huge penalty. 'I look towards them creating a compensation fund.' 'I would like to think they would do that for all the passengers who are affected on every single day since cancellations began.'
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
Grant Thornton Bharat's latest survey indicates that hybrids are set to consolidate market share this festive season, bridging the gap between conventional petrol engines and the emerging electric vehicle segment.
The Indian benchmark remained static in its last closing on May 28, while Brent prices dropped further to $75.71 a barrel. Less Brent crude in Indian basket makes prices sticky.
The Congress core group is meeting later in the evening where the implementation of Kirit Parikh Committee report on fuel pricing reforms may be discussed.
The Congress party has accused Union Minister Nitin Gadkari of conflict of interest, alleging his sons' companies have benefited from the government's ethanol blending policy. The BJP has rejected the allegations.
The ministerial panel is now likely to meet on June 24 or 25.
Close on the heels of steep increase in diesel price and cap on supply of subsidised LPG, President Pranab Mukherjee on Monday said greater alignment of domestic rates with global prices was in the interest of both consumers and investors.
Reliance Industries Ltd (RIL) on Friday reported a 9.6 per cent year-on-year rise in net profit for the September quarter, driven by strong performance in its consumer-facing retail and telecom businesses and a recovery in its core oil-to-chemicals segment.
Finance Minister Pranab Mukherjee on Friday ruled out rollback of petrol and diesel price hike saying the nation's fiscal condition did not permit him to do so.
Notwithstanding the demand of the Left parties, Petroleum Minister Mani Shanker Iyar on Friday asserted that there would be "no rollback" of the hike in petro products prices.
Indian rupee slipping below the record 88 level against the US dollar will enhance price competitiveness of Indian products in global markets and help exporters diversify beyond the US market, say exporters. However, import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they stated.
'The steel industry has a multiplier effect on direct and indirect employment, national security on the supply chain, technology access etc.'
'Some buyers get carried away by festival offers and purchase higher variants or larger vehicles than they truly need, which impacts running cost and long-term affordability.'
Technical Advisory Committee was for status quo in policy rate on little hope of government action.
This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1. Simultaneously, petrol and diesel prices were hiked for the 10th day in a row.
Aramco Trading Co, a subsidiary of state oil giant Saudi Aramco, offered 2.8 million barrels of ultra low sulphur diesel for loading in late July to early August
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.
Deregulating petrol and diesel prices has been on the cards since the crude oil prices came down by $100 from the historic high of $147 a barrel, a few weeks back. But with the rates climbing again, doubts are being cast if prices can actually be freed. Crude oil prices are ruling at $71-72 a barrel, a seven-month high.
High energy costs, long a drag on India's manufacturing competitiveness, are finally easing. Power and fuel expenses accounted for 1.98 per cent of net sales in 2024-25, the lowest level in data compiled by the Centre for Monitoring Indian Economy (CMIE) over the past two decades.
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
The Trinamool Congress and the Communist Party of India (M) on Thursday opposed the proposed increase in the prices of LPG and other petroleum products recommended by an expert panel headed by former Planning Commission member Kirti Parikh, saying a new burden of raised prices would hit the common people hard.
Defending the government's decision to raise prices of petroleum products, the Plan panel said on Wednesday it would suck money from the system and ease inflationary pressure in the long run.
