Petrol price hike will have a cascading effect and prices are going to go out of control.
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 Trinamool Congress has launched a sharp attack on the Narendra Modi government over rising fuel prices, economic concerns, and exam irregularities, accusing the Centre of betraying citizens.
Congress leader Rahul Gandhi has warned of a severe economic crisis looming over India, criticising Prime Minister Narendra Modi's economic policies and foreign travels.
'If the war continue for a longer period of time, it is just a matter of time before the government will pass on some of the price increases.'
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.
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.
MNS president Raj Thackeray questions the fuel consumption during recent election campaigns, asking if austerity measures are only meant for the common people.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
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.
Despite the crash in crude oil prices, Indians still pay a high price for petrol.
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
Prime Minister Modi has urged citizens to adopt measures like judicious fuel use, postponing gold purchases, and deferring foreign travel to strengthen India's economy in the face of the West Asia conflict's adverse impact.
Elevated global crude oil and natural gas prices, driven by geopolitical developments in West Asia, could significantly influence the Government of India's fiscal position for 2026-27, according to a report by ratings agency Icra.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
While being more expensive than its four-door sibling, the M440i convertible is more exotic with its looks, and being a convertible certainly adds to the driving experience, says Somnath Chatterjee.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's call for citizens to make economic sacrifices in response to the West Asia conflict, calling it 'evidence of failure'. Gandhi accused Modi of shifting responsibility onto the public and being incapable of running the country.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Trinamool Congress leader Abhishek Banerjee alleges the BJP-led government may increase fuel prices after the West Bengal assembly elections, accusing them of neglecting the common man and withholding funds from the state.
Jan Suraaj Party founder Prashant Kishor has moved to an ashram on the outskirts of Patna to continue his political activities ahead of the next assembly elections. He criticised Nitish Kumar and urged voters to prioritise their own interests.
S&P Global Ratings warns that Indian oil marketing companies like IOC, BPCL, and HPCL may face reduced profit margins due to rising crude oil prices and government pressure to maintain stable retail prices.
India's state-run oil marketing companies (OMCs) are projected to incur under-recoveries of approximately Rs 80,000 crore on liquefied petroleum gas (LPG) sales in FY27 if current loss levels persist, according to rating agency Icra.
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.
'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.'
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
The retail selling price of petrol at Delhi would come down by Rs 1.82 a litre.
Trinamool Congress leader Abhishek Banerjee has warned of a significant increase in cooking gas and fuel prices by the BJP-led central government following the West Bengal assembly elections. He accused the BJP of neglecting the fuel crisis and challenged them to pledge no price hikes for the next five years.
The Confederation of Indian Industry (CII) has urged the Indian government to gradually restore the Rs 10-per-litre cut in special additional excise duty on petrol and diesel over six to nine months. This move aims to relieve pressure on government finances as crude oil prices stabilise, without significantly impacting consumer sentiment.
The campaign for elections to 51 urban local bodies, including four municipal corporations in Himachal Pradesh, concluded on Friday, with key issues including infrastructure, tourism, and fuel prices taking centre stage.
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.
Pakistan's Punjab government has approved a plan to restore the names of several streets and roads in Lahore, aiming to revive the city's pre-Partition heritage, an official said on Monday.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
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.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Sri Lankan President Anura Kumara Dissanayake has announced an economic relief package to mitigate the impact of the West Asia conflict, including fuel price reductions and support from India for petrol and diesel supplies.
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.
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.
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