Prime Minister Narendra Modi on Friday launched a sharp attack on country's first premier Jawaharlal Nehru, claiming he prevented Sardar Vallabhbhai Patel from fully integrating Kashmir into the Indian Union.
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.
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine.
Reliance Industries Ltd has consistently remained compliant with international sanctions and is expected to adhere to upcoming measures on Russian oil, analysts said, estimating that oil sourced from Russia contributes just 2.1 per cent to its consolidated EBITDA. Reliance operates the world's largest single location refining complex, with more than half of the capacity exclusively dedicated for exports.
Australia held their nerve in a tense chase, edging past India by two wickets to seal the series 2-0 despite a late fightback from the visitors on Thursday in Adelaide.
Lining up its 2030 strategy, Hyundai said it was targeting up to 30 per cent export contribution and over 1.5-fold rise in revenue, to cross the 1 trillion milestone in five years.
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.
The offroad legend 2025 Mahindra Thar launched at an eye-popping Rs 9.99 lakh, writes Rajesh Karkera/Rediff.com.
Technical Advisory Committee was for status quo in policy rate on little hope of government action.
Wholesale price inflation moderated to 2.31 per cent in January due to the decline in prices of food items especially vegetables, government data released on Friday showed. The Wholesale Price Index (WPI) based inflation was 2.37 per cent in December 2024. It was 0.33 per cent in January 2024.
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
Jet fuel prices on Friday were hiked by 2 per cent - the seventh straight increase this year - to an all-time high, reflecting a surge in global energy prices. Aviation turbine fuel (ATF) - the fuel that helps aeroplanes fly - was hiked by Rs 2,258.54 per kilolitre, or 2 per cent, to Rs 1,12,924.83 per kl in the national capital, according to a price notification by state-owned fuel retailers. There was, however, no change in the price of petrol and diesel on Friday.
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.
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.
The recent petrol and diesel price hike by the government did not go down well with the common people who expressed their\ndispleasure over this pre-Budget move. The prices were raised by as much as 10 per cent on Wednesday.
The nationwide strike on Tuesday called by the Left parties against the hike in petrol and diesel prices evoked a mixed response with it getting unruly in some parts of the country.
Maruti takes a leap in terms of technology with features like ADAS, a 360-degree camera, ventilated seats, a powered tailgate, audio system with Dolby Atmos and much more.
Petroleum Minister Murli Deora on Monday ruled out any rollback in the increased prices of petroleum products, saying the hike has been reasonable and minimum. "The hike is reasonable and minimum ...," Deora told reporters here.
Wholesale price inflation rose to a 4-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, as per the government data released on Thursday. The wholesale price index (WPI) based inflation was 1.84 per cent in September 2024. It was (-) 0.26 per cent in October, last year.
'Political protection allow groups to recruit, rearm and operate with reduced operational pressure. That increases their bargaining power and their ability to destabilise.'
The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
The oil ministry is in fact of the view that the government should bear the entire burden of the revenue losses incurred by the oil marketing companies, after the increase in prices is effected.
From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
Accusing the government of 'violating Parliamentary propriety', BJP leader Sushma Swaraj said the move to hike petrol and diesel prices "raises suspicion as to which companies will be benefited by this decision." "The government has been saying that the public sector oil companies have been making profits and giving dividends to it. Then why this secrecy," she asked. Swaraj attacked the Congress for 'betraying' the common people.
The government ruled out any major jump in petrol and diesel prices after the elections, but said a review to bring the domestic prices in line with the raw material cost will be done by the new government.
Is GTA 6 finally coming? That's big news for die-hard GTA fans who get fully immersed in this world where crime meets adrenaline-fueled action! Let's sort some of the rumours and discover a hint of the truth.
India on Monday said that it will follow up its suggestion on having a price band for crude oil once the producing nations reflect on the idea, even as it asked them to step up oil output.
The primary drivers: Geopolitical disruptions inflating fuel and operational costs, and a surge in travel demand.
The surprise decision of OPEC and its allies, including Russia, to cut oil output may cause an immediate rise in prices, delaying revision in fuel prices in India, industry sources said. The grouping of Organisation of Petroleum Exporting Countries (OPEC) and its allies, called OPEC+, on Sunday decided to further cut oil output by around 1.16 million barrels. The move led to Brent rising by almost 6 per cent to $84.58 per barrel on Monday.
The rising rupee over the last three months has brought cheer to the oil marketing companies, who have together added around Rs 250-300 crore (Rs 2.5-3 billion) to their operating profits already.
The three companies in separate presentations to the Kirit Parikh Committee on fuel pricing suggested immediate freeing of petrol and diesel prices from government control.
India, the world's third largest oil importing and consuming nation, is likely to save as much as Rs 1.8 lakh crore on import of crude oil and LNG if the trend of softening international energy rates continues, Icra said Wednesday. India, which meets over 85 per cent of its crude oil needs through imports, spent $242.4 billion on buying crude from overseas in the fiscal year ended March 31, 2025.
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
The growing rift between MSIL and rival automakers has complicated the government's efforts to finalise the CAFE norms.
Demand for the Christmas period is expected to rise further in the coming days.
Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 6,854.25, or 5.79 per cent, in the national capital to Rs 111,344.92 per kl from Rs 118,199.17, according to a price notification of state-owned fuel retailers.
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