Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
Recent BJP organisational moves and Rajya Sabha nominations have sparked speculation that Prime Minister Narendra Modi may soon undertake a ministerial reshuffle.
The Indian government has refuted claims of an impending Rs 25-28 per litre hike in petrol and diesel prices post-assembly elections, stating no such proposal is under consideration by the Ministry of Petroleum and Natural Gas.
The Petroleum Planning and Analysis Cell (PPAC) has denied an RTI request for data on oil imports from Russia, citing its 'commercial and confidential' nature and exemptions under the RTI Act. The Central Information Commission supported this decision, referencing strategic and economic interests.
Hydrogen fuel cell technology generates electricity through a chemical reaction using hydrogen, with water vapour as the only emission, making it a cleaner alternative to conventional fossil fuel-based traction systems.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
India's wholesale price inflation surged to 3.88 per cent in March, marking the fifth consecutive monthly increase, primarily driven by a sharp rise in crude petroleum, natural gas, and manufactured items amidst the West Asia crisis.
India's pharmaceutical industry is experiencing increased bulk drug prices, particularly for APIs from China, following the escalation of the West Asia crisis in March. While current inventories provide a temporary buffer, concerns are mounting over the availability of key solvents and feedstocks, potentially leading to manufacturing disruptions and shortages in specific drug categories.
A tanker carrying liquefied petroleum gas (LPG) for India has successfully navigated the Strait of Hormuz and is en route to Visakhapatnam, India, carrying enough cargo to meet half a day's requirement for the country.
Around one full month of supply is firmly arranged with additional procurement being continuously finalised, and oil companies are successfully delivering over 5 million cylinders every day.
Bank of Baroda economists project India's GDP to grow 6.5-6.8 per cent in FY27 but warn that the fiscal deficit could overshoot the budgeted 4.3 per cent target, potentially reaching 4.7-4.8 per cent of GDP due to subsidy overruns, excise duty cuts, and oil marketing company losses.
The government has dismissed speculation of an imminent increase in petrol and diesel prices, assuring citizens that there are no plans for a hike despite rising crude oil costs.
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
A major fire near the main unit of the newly built Rajasthan refinery of HPCL has postponed the inauguration by Prime Minister Narendra Modi. The fire, which broke out near the crude distillation unit, was doused in about two hours with no reported casualties.
Aviation Turbine Fuel (ATF) prices have more than doubled to a record high, impacting airlines and consumers, while commercial LPG rates also see a significant increase.
Petrol and diesel prices in India have been increased for the second time in a week, following a long freeze on revisions. The increase comes as global crude prices surge and state-run oil firms look to recoup losses.
A new report suggests that blending 20 per cent dimethyl ether (DME) with LPG could significantly reduce India's LPG imports, leading to substantial savings in foreign exchange.
18 Indian-flagged vessels with 485 Indian seafarers still remain in the western Persian Gulf region
In a statement issued by Iran's consulate in Mumbai, it said, "At present, Iran essentially has no floating crude or surplus available for international markets. The US Treasury Secretary's remarks appear aimed at reassuring buyers and managing market sentiment."
Civil Aviation Minister K Rammohan Naidu announced that public sector oil marketing companies will implement a partial and staggered increase in jet fuel prices for domestic airlines, aiming to protect passengers from steep fare hikes.
The Indian government has refuted claims of fuel shortages, asserting that the country possesses approximately 60 days of fuel stock cover and that all petrol pumps are adequately stocked and operating normally.
Nath's comments came amid the Congress party's continuous attack on Centre for the recent hike in commercial LPG cylinders and the Aviation Turbine Fuel (ATF).
The petroleum ministry on Friday reaffirmed the government's commitment to maintaining stable petrol and diesel prices, despite India's high dependence on imports.
An India-flagged LPG tanker, Jag Vikram, has successfully crossed the Strait of Hormuz following a temporary ceasefire between the United States and Iran, marking a significant development for India's energy security.
The Indian government is actively developing a policy for flex-fuel vehicle adoption and aiming for 100 per cent ethanol blending in petrol to enhance energy self-reliance, particularly in light of supply disruptions from the West Asia conflict.
India's fertiliser subsidy bill for the current financial year (FY27) is projected to increase by approximately 20% due to surging global prices, primarily driven by the West Asia crisis, a senior official confirmed. Despite this, retail prices for urea and di-ammonium phosphate (DAP) will remain unchanged, ensuring adequate supply for the kharif season.
India has condemned the escalating attacks on commercial shipping in West Asia, particularly after a Thai-flagged vessel en route to India's Kandla Port was targeted in the Strait of Hormuz. The attacks have disrupted global oil and gas supplies, impacting India's energy imports.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
According to sources, the Indian Navy warships are on standby to provide assistance or help required by merchant vessels.
External Affairs Minister S Jaishankar has emphasised India's commitment to safe maritime transit and condemned attacks on merchant shipping amidst the ongoing West Asia conflict and global energy market disruptions.
Calling such reports baseless, Finance Minister Nirmala Sitharaman said there was no such move under consideration.
A US-sanctioned tanker carrying Iranian crude oil is heading to India, marking the resumption of oil imports from Iran after seven years.
India has voiced its deep concern over reports of increasing civilian casualties in Lebanon due to Israeli strikes, emphasising the protection of civilians and the importance of international law.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
The government has introduced a mandatory 25-day gap between LPG cylinder bookings due to supply concerns arising from global disruptions and tensions in the Strait of Hormuz. This measure aims to prevent hoarding and prioritise essential non-domestic sectors, while domestic LPG production is being increased to mitigate shortages.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
Both Houses of Parliament were adjourned sine die, concluding a Budget session marked by the passage of key legislations and the defeat of a Constitution amendment bill on women's reservation. The session saw frequent opposition protests and discussions on various issues, including the West Asia conflict.
