Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
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.
The AIMTC, which had gone on strikes to protest diesel price hikes in the past, said it will hold a meeting of its national members on July 12 to chalk out its future course of action.
"The Opposition should introspect before resorting to such political opportunism. They raised prices of petrol 21 times, that of diesel 24 times and that of liquefied petroleum gas five times when the National Democratic Alliance was in power," party spokesman Manish Tewari said.
Passenger car sales in the country, already witnessing a slowdown, may get further bogged down in case of a hike in fuel prices or hardening of interest rates, credit rating agency ICRA has warned.
Planning Commission deputy chairman Montek Singh Ahluwalia and former Planning Commission member Kirit S Parikh, who heads an expert committee on fuel pricing, may join the deliberations, official sources said.
Union Petroleum Minister disclosed the decision on fuel prices will be taken on Jan 17, in the GoM meet.
Aviation companies are set to get a major relief from high aviation turbine fuel prices. Following a steep decline in crude oil prices, oil marketing companies are looking to cut ATF prices by 5-6 per cent, or Rs 2,000-2,500 a kl across various cities beginning Thursday, said industry sources.
According to top sources, the government is all prepared to lower the prices of diesel, petrol and cooking gas after the polling is over for the last phase of Jammu and Kashmir Assembly elections on December 24. As the global crude prices have dipped to $55 per barrel now, petroleum ministry officials say even a Rs 2 to Rs 3 per litre cut in diesel prices would bring down inflation 60 to 70 basis points (100 basis points is equal to one percentage point).
There are hopes of a turnaround in overall corporate earnings after six quarters of single digit growth.
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.
Much before the honeymoon ended with the public, the Manmohan Singh government delivered a shock in the form of the fuel price hike -- an act of confident UPA -- to compensate the losses of 2010 Union budget.
'So far our production is not affected. But every day the situation prolongs, it does bring risks in terms of shipments getting delayed.'
The common man was bearing the brunt of the escalating prices of petrol, diesel and cooking gas, the Congress said.
Global crude oil prices have nearly doubled in the last one year but government has not raised domestic fuel prices on a direction from United Progressive Alliance chairperson Sonia Gandhi, Petroleum Minister Murli Deora said.
"At the moment there is no proposal before us for reducing prices," petroleum secretary R S Pandey told reporters in New Delhi. State-run oil retailers have started making profits on sale of petrol and diesel, but continue to incur hefty losses on domestic LPG and kerosene.
Indian stock market indices Sensex and Nifty closed nearly 1 per cent higher, marking their third consecutive day of gains, supported by a slight decrease in crude oil prices and positive global market trends.
Aviation industry sources said some of the airlines were also planning to consolidate their flight schedules, by cutting some flights to certain select destinations. Indian carriers were also focusing on getting their products to a global standard and consolidating their domestic market, the study also pointed out.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
Former Maldives President Mohamed Nasheed advocates for building democratic institutions over military intervention in resolving international conflicts, particularly in the context of the escalating West Asia crisis. He also discusses the impact of the conflict on the Maldives' tourism-dependent economy and calls for a stronger, more understanding India in the Indian Ocean Region.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
The core issues to be settled -- access to Hormuz, Israel's aggression in Lebanon, the question of Iran's nuclear programme, sanctions relief and compensation -- are thorny enough to require weeks of patient negotiation. The most likely outcome of the opening sessions is that both sides take the measure of each other, establish what is and is not negotiable, and return home without having broken anything. That would count as progress.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
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.
State oil firms on Wednesday raised jet fuel (aviation turbine fuel) price by 5 per cent in line with the spike in international oil prices, which have touched a record $71 US a barrel.
Airlines are of the view that the cut in prices is too little for them to pass on to consumers, especially after a series of price increases over the last six months.
Indian stock market benchmarks Sensex and Nifty rebounded strongly after a two-day decline, driven by falling crude oil prices and positive global cues amid hopes of de-escalation in the Middle East.
With Opposition parties calling for a nationwide strike against the hike in fuel prices, Petroleum Minister Murli Deora on Wednesday justified the decision, saying the increase translated to less than Re 1 per day on domestic LPG and 26-27 paisa a day on kerosene.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
It is not perfect, given its lack of space and no diesel engine, but as a package the new Duster is brimming with character, which appeals to you in the end, says Somnath Chatterjee.
Aniket Verma's explosive innings in the IPL 2026 opener against Royal Challengers Bengaluru proves his talent and potential as a rising star in the Indian Premier League.
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
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.
A neutral monetary policy stance, heavy government borrowing, and issuers adjusting to a higher-for-longer yield environment have set the stage for a largely stable corporate bond market in 2026.
Rupee slumped 69 paise to an all-time low of 92.18 against the US dollar in early trade on Wednesday, as a sharp spike in crude oil prices amid geopolitical tensions following the escalation of the US-Iran conflict weighed on investor sentiment.
The TVS Ntorq 150 brings stronger performance, modern features and lightweight agility to India's growing performance scooter segment, discovers Rajesh Alva.
