Other members of the committee are Indian Council for Research on International Economic Relations chairperson Isher Judge Ahluwalia, National Council of Applied Economic Research director general Suman K Bery and the secretaries of yje ministries of finance and petroleum.
IOC said the daily price revision is an initiative for ensuring the best possible prices to the customers as well as improved transparency on the pricing mechanism.
Price hikes of controlled petroleum products such as diesel, cooking gas and kerosene have been happening annually in the month of June, irrespective of the companies' losses.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
'IndiGo is fooling the country and the government has succumbed to it.'
Billionaire Mukesh Ambani's Reliance Industries Ltd is estimated to have earned 724 million euros (about Rs 6,850 crore) from exporting fuel made from Russian crude oil to the US in one year, an European think tank said in a report. "From January 2024 to the end of January 2025, the US imported EUR 2.8 billion of refined oil from six refineries in India and Turkey that process Russian crude.
The new Fortuner Neo Drive embraces a 48V mild-hybrid system for better refinement and modest efficiency, without diluting its rugged DNA.
While GST on ICE vehicles was brought down significantly, for electric cars it remained at 5 per cent.
Apart from this, state refiners are looking at optimising crude oil inventory levels without in any way affecting fuel supplies in the domestic market.
The government may defer raising the price of fuels to early next week, after the two-day national executive meeting of the Bharatiya Janata Party, which begins on Sunday. Such a move would provide "ammunition" to the main opposition party on a platter, according to an informed source.
India's consumer price index (CPI)-based retail inflation rate is likely to have cooled further in June, thus remaining below the 4 per cent target of the Reserve Bank of India (RBI) for a fifth consecutive month, giving the central bank wiggle room to focus on growth. Economists reckon that the decline is on account of easing prices in various categories of goods, especially food items, and a favourable base effect.
The finance minister has labelled about 65 per cent of the fuel excise revenue as cess, including the restructured road and infrastructure cess
Mahindra has officially taken the covers off the BE 6 Formula E Edition, and let's just say it's loud, it's orange, and it's absolutely unapologetic, reports Rajesh Karkera/Rediff.com
While this is a thoroughly modern SUV, the soul of the original '90s icon lingers.
The threat of being priced out of the market by state-owned oil marketing companies has forced the private sector players to also opt for price cuts of auto fuels.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
Retail inflation slipped to 1.54 per cent in September from 2.07 per cent in the preceding month mainly due to subdued prices of food items, including vegetables and pulses, according to government data released on Monday. The consumer price index (CPI) based inflation was 5.49 per cent in September 2024.
The young man and his newly wedded wife got petrol in a five litre can as a gift.
In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3 per cent in line with softening international crude oil prices. Aviation turbine fuel (ATF) price was reduced by Rs 1,887 per kilolitre, or 3 per cent, to Rs 58,374.16 per kl in the national capital, according to a price notification of state-owned fuel retailers. This is the first reduction in rates after four rounds of increase since February. Rates were increased by Rs 3,246.75 per kl on February 1, followed by a 3.6 per cent hike on February 16, and a steep 6.5 per cent raise on March 1. On March 16, prices were again raised by Rs 860.25 per kl. On Thursday, a Rs 10 per cylinder reduction in price of domestic cooking gas LPG also came into effect.
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.
In absolute terms, both types of cars must cut emissions by about 28-29 g/km. But in percentage terms, the lighter 900-kg car must reduce emissions by 27 per cent, while the 1,500-kg car needs a 22 per cent cut. And the target becomes progressively stringent for both -- but, once again, the tightening is sharper for the 900-kg car than for the 1500-kg car.
The Lokpal, India's anti-corruption ombudsman, has issued a tender for the procurement of seven BMW 3 Series 330Li cars, estimated to cost around Rs 5 crore.
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
Reliance Industries Ltd, India's largest buyer of Russian oil and most impacted by the latest US sanctions, on Friday said it will comply with all applicable restrictions and will adjust its refinery operations to meet compliance requirements.
The cost of non-subsidised LPG -- the one that consumers buy after exhausting their quota of 12 bottles of 14.2-kg at below market price -- has been cut by Rs 100.5 to Rs 637.
New investors should not allow themselves to fall prey to FOMO and rush headlong into gold.
Escalating trade tensions amid a tariff war after Donald Trump took over as President of the United States (US) could adversely impact global growth and fuel inflation, an article on the "State of the Economy" in the Reserve Bank of India (RBI) monthly bulletin said.
The state-run oil firms will raise jet fuel price by Rs 1,338 per kl effective midnight tonight, an Indian Oil official said on Thursday.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
The Planning Commission has pitched for linking of domestic fuel prices with those in the international market saying it is necessary for country's global "economic reputation".
The increases have snapped a six fortnight trend of reduction in rates.
The Left parties on Wednesday asked the government to reduce prices of LPG and diesel and restore 9.5 per cent interest rate on Employees Provident Fund.
The Andhra Pradesh government has prepared an action plan for relief and essential supplies in pre-cyclone preparedness for Cyclone Montha, expected to cross the coast on October 28.
'Crude oil prices are around $66-67 per barrel now but could fall to $55-60 if global disturbances ease.'
A senior civil aviation ministry official said this was one of the key issues discussed during Civil Aviation Minister Praful Patel's meeting with Prime Minister Manmohan Singh on Wednesday to ask for a relief on ATF. Top airline executives like Jet Airways Chairman Naresh Goyal and Kingfisher Airlines Chairman Vijay Mallya also met the PM to highlight the issue.
India's fuel sales fell in the first half of April as a record rise in prices in a short 16-day period dented demand, preliminary industry data showed on Saturday. Petrol sales fell almost 10 per cent in the first half of April when compared with the same period in the preceding month, while diesel demand slid 15.6 per cent. Even cooking gas LPG, which had consistently shown growth even during the pandemic period, saw a 1.7 per cent month-on-month fall in consumption during April 1-15.
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.
The Union Cabinet is likely to review prices of petrol and diesel as crude oil price continue to move northward.
Between January and August 2025, over 65,000 units of the Bolero were sold, making it the third-highest contributor to Mahindra's overall SUV sales. Bolero annually achieves sales of over 1 lakh units.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances