'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
Petrol price hike will have a cascading effect and prices are going to go out of control.
The Reserve Bank of India has increased its retail inflation projection for 2026-27 to 5.1 per cent, up from an earlier estimate of 4.6 per cent. This revision is primarily attributed to mounting input costs, driven by the pass-through of higher global energy prices to domestic petrol and diesel rates, which have seen significant increases since May.
Pakistan has significantly increased the price of high-octane fuel, impacting luxury vehicle owners, while also seeing increases in petrol, diesel, and airline fares due to rising global oil prices.
Public sector oil marketing company Indian Oil Corporation (IOC) will raise prices of petrol by 27 paise a litre, - for the first time since decontrolling petrol prices.
S&P Global Ratings projects India's economic growth to slow to 6.6 per cent in FY27, down from 7.7 per cent in FY26, citing energy stress and a potential sub-par monsoon.
Despite the crash in crude oil prices, Indians still pay a high price for petrol.
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.
The petroleum ministry on Friday reaffirmed the government's commitment to maintaining stable petrol and diesel prices, despite India's high dependence on imports.
'Unfortunately, today most ministers are busy with either election duty or praising duty. They are not interested in serving duty.' 'Ministers have become relaxed like retired people still holding onto jobs.' 'Look at how the NEET paper leaked. But there is no accountability.' 'After 12 years, they have become saturated. They are short of ideas.'
Flex fuel motorcycles can deliver "3 per cent higher torque and 7 per cent higher peak power".
Tata Motors' 2026 Tiago facelift is a tech-loaded and safety-focused entry-level hatchback, with prices starting at Rs 4.69 lakh.
Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh, director, Delhi School of Economics.
State-run oil-marketing companies (OMCs) are unlikely to significantly raise petrol and diesel prices despite crude oil nearing $100 a barrel, leading to potential margin pressure, while CLSA analysts project a 65 per cent upside for ONGC's stock.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
Fill up the tanks of your cars and scooters before the weekend before petrol prices shoot up.
With inflation at peak levels, a further rise in petrol prices would again lead to higher prices.
Say hello to the S 450 e Launch Edition. Priced at 2.20 crore upwards.
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.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
India's Central government is likely to see its fertiliser subsidy bill double to a record 3.4 trillion in FY27, up from the Budget estimate of 1.7 trillion, due to surging global fertiliser prices exacerbated by the West Asia war. This significant increase, coupled with revenue losses from excise duty cuts for oil-marketing companies, is straining the government's fiscal space, though capital expenditure plans remain unchanged.
The retail selling price of petrol at Delhi would come down by Rs 1.82 a litre.
"There is a sharp jump that we have seen in bookings of EVs... The jump, at least in our case, in just two months, it is about 2 to 2.5 times of what it used to be"
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.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
The Indian government has issued a stern warning to industrial users who are reportedly procuring cheaper retail fuel instead of industrial-grade fuel, leading to significant losses for state-run oil marketing companies (OMCs) and potential local shortages. This diversion, driven by a substantial price difference between retail and bulk diesel, is adversely impacting OMCs, which are absorbing daily losses of approximately 550 crore to keep retail prices stable.
Mercedes-Benz India is exploring a larger role for plug-in hybrid electric vehicles (PHEVs) in its portfolio, with plans to potentially introduce the technology in more models beyond the newly launched S-Class plug-in hybrid. This strategy aims to cater to luxury car buyers who are hesitant about fully electric vehicles due to concerns over charging infrastructure and range.
Petrol prices in the country are not coming down as the states do not want to bring fuel under the ambit of the GST, Petroleum Minister Hardeep Singh Puri said. In an interview to PTI in Kolkata, Puri said petrol prices crossed the Rs 100-mark in West Bengal as the TMC government is levying heavy taxes. "If your question is do you want the petrol prices to come down then the answer is yes.
Union Finance Minister Nirmala Sitharaman has urged an increased focus on '3Fs'-fuel, fertiliser, and forex-to maintain India's economic resilience amidst the West Asia crisis, while also criticising those who spread pessimism.
Oil Minister M Veerappa Moily on Friday hinted at a reduction in price of petrol in next few days, the first cut in rates in over five months.
In an interview with Ajay Modi & Jyoti Mukul, ONGC chairman R S Sharma says uncertainties continue in the business even after decontrol of petrol prices.
Petrol and diesel prices on Tuesday were cut for the third time within a week on the back of softening international oil prices. Petrol price was cut by 22 paise per litre and diesel by 23 paise per litre, according to a price notification of state-owned fuel retailers. Petrol now costs Rs 90.56 per litre in Delhi and a litre of diesel comes for Rs 80.87. Rates have been reduced across the country and vary from state to state depending on the local incidence of taxation (VAT). In Mumbai, the petrol price was cut to Rs 96.98 a litre on Tuesday from Rs 97.19, while diesel rates were reduced to Rs 87.96 from Rs 88.20, the price notification showed.
JSW Motors, part of the JSW group, is set to enter India's passenger vehicle market with plans to launch 15 new-energy vehicles (NEVs) over the next four years, with deliveries commencing from December 2026.
Sensex gains over 400 points while Nifty trades above 23,800 amid strong IT sector buying.
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
Protest programmes against the hike will be held by Leftist organisations throughout the state from May 26 to May 30 and rallies will be organised on May 31, he said.
Petrol and diesel prices will not be changed this fortnight, said a communiqué on Tuesday.
Senior Trinamool Congress leader Abhishek Banerjee has accused the BJP-led central government of planning to increase fuel prices after the West Bengal assembly elections. He challenged the BJP to promise no price hikes for LPG, petrol, and diesel over the next five years.
With the government expressing its reluctance in raising prices of diesel and domestic LPG, the oil marketing companies may be forced to go for another round of increase in petrol price.
