India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
Indian Oil Corporation (IOC) on Tuesday reported halving of its March quarter net profit largely because of losses in the petrochemical business and shrinking margin after it announced a pre-election fuel price cut despite rising input costs. The net profit of Rs 4,837.69 crore in January-March compared to Rs 10,058.69 crore a year back and Rs 8,063.39 crore in the preceding October-December quarter, according to a stock exchange filing by the company.
Despite a massive decline in crude oil prices since 2012 -- Modi has been prime minister in six of these eight years -- petrol in Delhi has become 10 per cent costlier and diesel 97 per cent, as of July 2.
Domestic jet fuel prices are up 7%, but are still 14% lower on a y-o-y basis. While lower fuel prices have brought respite to airlines, their non-fuel costs are rising because of rupee depreciation
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
According to police, CPI-M legislator K Bhimrao and other party supporters were arrested from Guindy railway station in Chennai.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
Vietnamese automobile major VinFast is rapidly expanding its retail network in India, aiming for 75 dealerships across 60 cities by the end of 2026, while also building a comprehensive EV ecosystem.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
Oil Minister Murli Deora has said that petrol and diesel prices would not be cut till crude oil prices fell to $67 a barrel, since the depreciation in the rupee against the US dollar had eroded gains from falling oil prices, which touched a 7-month low.
A Group of Ministers will take the decision in June.
Apart from this, state refiners are looking at optimising crude oil inventory levels without in any way affecting fuel supplies in the domestic market.
'Mobius made EMs investable and India his most enduring belief.'
Iran has reportedly allowed select "friendly nations" including India and Pakistan limited access to the Strait of Hormuz amid ongoing conflict, easing some energy supply concerns. Here's what the move means for global trade and oil routes.
India's Oil Minister Murli Deora said a proposal to allow firms to set retail fuel prices based on market prices would be sent to the cabinet for approval within six weeks.
India's Oil Minister Murli Deora said a proposal to allow firms to set retail fuel prices based on market prices would be sent to the cabinet for approval within six weeks.
Several non-banking financial companies (NBFCs) are observing an increase in early-stage delinquencies within their micro, small and medium enterprises (MSME) loan portfolios, primarily driven by supply chain disruptions and escalating raw material costs exacerbated by the ongoing conflict in West Asia.
Jet fuel prices on Monday were hiked by a steep 5.3 per cent - the tenth straight increase this year -- to an all-time high, in line with a surge in global energy prices. The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 6,188.25 per kilolitre, or 5.29 per cent, to Rs 1,23,039.71 per kl (Rs 123 per litre) in the national capital, according to a price notification of state-owned fuel retailers. This is the 10th straight increase in jet fuel prices this year.
The government has chosen to profiteer off people's misery and suffering, Gandhi said.
Normal life was partially affected in Andhra Pradesh and West Bengal on Friday. An opposition-sponsored state-wide bandh was called in Andhra Pradesh to protest against fuel price hike while West Bengal was in the grip of a bandh for the second consecutive day after the opposition Trinamool Congress and its ally the Socialist Unity Centre of India (SUCI) enforced the shut down to protest the fuel price hike.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
Domestic airlines on Thursday welcomed the 12.5 per cent cut in jet fuel prices, terming it as a much-needed relief but ruled out any immediate reduction in fares.
Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
India's power demand rose 4.5 per cent year-on-year (Y-o-Y) to 143 billion units (BUs) in January, marking the highest consumption for the month since 2010, primarily on the back of severe cold wave conditions across northern and eastern regions of the country.
Indian rice exporters are seeking urgent government support to mitigate the impact of shipping disruptions caused by the Iran crisis and instability in key maritime routes. The disruptions have led to increased freight rates, insurance premiums, and fuel costs, impacting domestic prices and exporter profitability.
Qatar has halted liquefied natural gas (LNG) production after its facilities came under attack amid the ongoing West Asia conflict, disrupting supplies to India and squeezing feedstock availability for key domestic sectors.
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.
India's plans to ration the consumption of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) - in response to reduction in their import owing to war in West Asia - may fall short of what is needed to meet domestic needs.
Wholesale price inflation extended upward momentum for the second straight month, recording at 0.83 per cent in December 2025, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Wednesday. Wholesale Price Index (WPI)-based inflation returned to positive in December, after witnessing a deflationary trend in the previous two months.
Researchers at CSIR-NCL have developed a technology for producing dimethyl ether (DME) as an alternative to liquefied petroleum gas (LPG), potentially reducing India's reliance on imports and enhancing energy security.
About 50,000 truckers, most of whom are single-truck owners, could be thrown off their businesses due to the recent fuel price hike. "Already the vehicle supply on the road is higher than the requirement. "With the fuel price hike, fleet owners will look to cut down fleet size wherever needed and due to this, small single-truck owners could be at the receiving end," Ashok Goyal, managing director at BLR Logistiks (I) Ltd said. The company has a fleet of 500 vehicles of all types-small, medium and large with pan-India presence.
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.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
The government has suspended its directive requiring airlines to offer at least 60% of seats on flights without additional charges, following industry concerns about the impact on fares and pricing structures.
Gurugram has overtaken Mumbai to become India's biggest luxury housing market in 2025, recording 24,120 crore in sales of homes priced above 10 crore.
Crude oil prices have fallen to below $113 a barrel this week from all-time high of $147 per barrel witnessed last month. The basket of crude oil India buys averaged $109.88 per barrel, down from $119 a barrel price on June 4 when petrol, diesel and domestic cooking gas prices were raised.
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