'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
The reduction in rates is likely to be announced by the month end as per the practice of fortnightly revision in prices, and has been made possible due to appreciation of rupee against the US dollar.
Apart from the central ministries, other respondents include oil marketing companies, Indian Oil Corporation, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd.
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.
On Friday govt increased the petrol price by Rs 1.40 a litre.
The Indian government has allocated an additional 2 million tonnes of surplus broken rice from FCI stocks for its ethanol blending programme, while simultaneously issuing a detailed rebuttal to widespread misinformation regarding the E20 fuel, addressing concerns from water consumption to engine damage and environmental impact.
Rahul alleged that the BJP-led government wanted to take money from the common man to give it to its "rich friends" and asked it to tell the people why they were not reducing the price of petrol in the country.
Sources said a meeting of heads of the oil marketing companies -- Indian Oil, Bharat Petroleum and Hindustan Petroleum -- was called off.
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.
Joining the chorus against the steepest ever hike in petrol price, key United Progressive Alliance partner Dravida Munnettra Kazhagam on Friday announced a state-wide agitation on May 30, demanding a substantial reduction in the increase. The unprecedented increase of Rs 7.5 per litre of petrol has already sparked "spontaneous" protests by people against the government across the country, the party said.
Following the increase, petrol in Delhi will cost Rs 68.64 a litre.
Mercedes-Benz India plans to continue introducing hybrid vehicles, including the new AMG E 53 plug-in hybrid EV, to meet consumer demand, viewing hybrids as a crucial bridge to full electrification despite the absence of supportive government policies.
Oil companies have decided to hike petrol price by 70 paise per litre with effect from midnight tonight.
This is the third increase in two months
The hike in petrol price was necessitated because of increase in prices of crude oil in the international market, Union Finance Minister Pranab Mukherjee said.
This is the second hike in diesel price this month.
Petrol prices may be raised by about Rs 2 per litre and diesel rates cut by Rs 0.30 a litre if a proposal to free auto fuel prices from state control is approved by the incoming cabinet.
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He said the states needed to also do their bit on reduction of petrol price.
This is the fourth increase in rates in six weeks
The government is set to dump B K Chaturvedi panel's recommendation for a monthly increase in fuel prices till they are at par with costs, but may accept the high-powered committee's suggestions for imposing a tax on oil produced from fields awarded before 1999.
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The price reduction will be effective midnight tonight, announced Indian Oil Corp
'The real shock is going to be from a deficient monsoon.'
Oil Ministry felt it did not have a clear mandate to reduce rates post the January 2013 decision of the Cabinet to raise prices by 40-50 paisa a litre every month.
A day after raising petrol price by a steep Rs 1.80 a litre, Indian Oil Corp, the nation's largest fuel retailer, on Friday said the hike was unavoidable as rupee depreciation has increased crude imports costlier.
Oil companies on Thursday again hiked petrol prices by Rs 1.80 per litre to offset the fall in rupee that has made imports of crude costlier.
Mountain drives are the ultimate test of an EV's stamina. Here is how the Sierra.ev fared over a rigorous test loop in the Nilgiris, says Rajesh Karkera/Rediff.com.
A Parliamentary Standing Committee on Commerce has urged the Indian government to swiftly conclude the proposed India-US Bilateral Trade Agreement (BTA), while ensuring India's interests are protected, recommending complete exemption for key export products like generic medicines and smartphones from future US tariff increases.
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.
With features usually seen in more expensive cars and segment-first paddle shifters, the Tiago offers excellent value for money, says Rajesh Alva/Rediff.com.
Sharing concerns of the common-man, Oil Minister S Jaipal Reddy said the decision to hike petrol price was taken by the oil companies, but the government is conscious of the 'sense of disturbance' caused by it among the consumers.
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.
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.
Firm crude and weaker rupee mean more losses for oil marketing companies. Jet fuel also set to rise, stressing airline finances.
Petrol prices are likely to be cut by over one rupee a litre early next week as appreciation in value of rupee against US dollar and fall in global oil rates has made imports cheaper.
Petrol price on Saturday breached the Rs 83 per litre-mark in Delhi for the first time in more than two years after a rally in international oil prices forced a 13th increase in rates in the last fortnight. Petrol price on Saturday was raised by 27 paise per litre and diesel by 25 paise, according to a price notification of oil marketing companies. Petrol price in Delhi rose to Rs 83.13 per litre from Rs 82.86. Diesel rates went up from Rs 73.07 to Rs 73.32 per litre.
Petrol prices may be cut by Rs 2 a litre from on Wednesday as global oil rates have softened and the rupee has stabilised against the US dollar.
This is the fourth increase in auto fuel prices since May 1
