On the hike in fuel prices, she accused the government of profiteering and said it is turning a disaster into an opportunity to fill its coffers. She also alleged that the government is breaking the back of the poor, the farmers, and the middle class due to its 'insensitivity'.
Diesel price on Monday went past the Rs 98-a-litre mark in a few places of Rajasthan as a relentless increase in fuel prices took rates to record-high levels. Petrol price was increased by 29 paise per litre and diesel by 26 paise a litre, according to a price notification of state-owned fuel retailers. The increase - 16th this month - pushed petrol and diesel prices to a fresh all-time high across the country. Sri Ganganagar district of Rajasthan saw petrol price climb to Rs 105.24 a litre and diesel to Rs 98.08 per litre.
For the first time, the government is likely to dip into the Oil Industry Development Fund (OIDF) to finance part of its fertiliser subsidy programme for 2025-26, according to official sources. The finance ministry has accounted for Rs 23,000 crore in the FY26 Budget as net additional resources to be drawn from dedicated reserve funds, including the OIDF, the Agriculture Infrastructure and Development Fund, and the Universal Service Obligation Fund.
The wide-ranging sanctions imposed by the US on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd (BPCL) saying not enough cargoes are available for March.
The young man and his newly wedded wife got petrol in a five litre can as a gift.
Despite a massive decline in crude oil prices since 2012 -- Modi has been prime minister in six of these eight years -- petrol in Delhi has become 10 per cent costlier and diesel 97 per cent, as of July 2.
Jet fuel or ATF price on Tuesday was hiked by a steep 8.5 per cent - the second increase in a month, while commercial cooking gas rate was cut by Rs 100 per cylinder in line with divergent trends in international benchmarks. Aviation turbine fuel (ATF) price was increased by 7,728.38 per kilolitre, or 8.5 per cent, in the national capital to Rs 98,508.26 per kl, according to a price notification of state-owned fuel retailers. Rates, which vary from state to state depending on the incidence of local sales tax or VAT, have been increased on firming up of global rates that followed four months of decline.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
A graphic showing how the average prices for petrol and diesel have moved over the last ten years.
They registered their protest with a warning that any other such increase would make the party consider its future ties with the UPA.
Maharashtra govt has announced an 80 paise cut in the price of petrol and a 30 paise cut in the price of diesel.
Petrol will cost less than Rs 18 a litre but for the duties levied by central and state governments, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
The fall in international oil prices had resulted in six consecutive reduction in petrol prices since August and two in diesel in the last one month and there was possibility of another round of cuts this weekend.
The company is offering a total of 3 trims of this petrol variant along with the RXE trim; the other two trims are RXL and the top end RXZ.
Congress president Mallikarjun Kharge has accused the BJP of rigging the Maharashtra assembly elections and called for a return to ballot paper voting. He also criticized the Modi government for selling off public assets, undermining democratic institutions, and promoting communal polarization. Kharge's remarks come as the Congress prepares for its AICC session in Ahmedabad, where it will present its political and economic views.
A rise in petrol and diesel consumption can help the government cut cesses on the fuels by Rs 4.5 a litre without impacting revenue collections of FY21, and help cool off the pressure on inflation, domestic rating agency ICRA said on Friday. Petrol consumption is estimated to increase 14 per cent in 2021-22 and diesel by 10 per cent on the lower base, rise in mobility and economic recovery, ICRA said. The rating agency added that it will result in an additional Rs 40,000 crore in revenue for the government through higher collections of the cess.
Petrol prices in India are costlier than the United States but cheaper than European countries, Minister of State for Petroleum and Natural Gas R P N Singh said on Tuesday.
"Petroleum Ministry has moved a Cabinet note for raising fuel prices but a decision will depend on what allies of the ruling alliance say," an official said.
A government official said out that with hardly any economic activity, an immediate duty hike will not be productive and could be announced once the lockdown eases and demand revives.
Samajwadi Party chief Akhilesh Yadav on Monday criticized the Uttar Pradesh government over the severe traffic congestion in Prayagraj, claiming it has led to a shortage of essential commodities and inconvenienced devotees visiting the Maha Kumbh Mela. He also posted a video on X with people sharing their experiences and pointing out at the chaos. Yadav alleged that the officials are giving orders sitting in their rooms but are not coming down to the ground and that residents of Prayagraj have got nothing except filth, traffic jams and price rise.
Petrol and diesel prices in the national capital have been raised marginally following the state government's decision to levy sales tax on the two auto fuels.
Petrol prices are on the up and up while petrol car sales are going down and down. So what makes Volkswagen think that the market is in need of a petrol-powered Jetta?
The comparisons were available for 12 countries.
Oil companies on Wednesday slashed petrol and diesel prices by Rs 2, with effect from midnight tonight.
However, copious oil supplies amid growing global output and slowing Chinese oil consumption will put India in a better bargaining position with Gulf suppliers.
Ahead of the CCPA meeting, National Conference, a key constituent of the UPA, on Thursday suggested a "balancing act" while taking a decision to hike fuel prices and said the increase should be such that it does not put burden on people.
The government may cut customs duty on petrol and diesel by 5 per cent each to avoid increasing prices that had been necessitated due to a spurt in international oil prices.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
petroleum minister has announced that fuel prices would not be hiked and talks with allies on the issue were on.
This will compete with Ford Ecosport petrol
One litre of petrol now costs Rs 64.76 while the diesel price is Rs 54.70 a litre in Delhi
Mahindra & Mahindra (M&M) delivered a stronger-than-expected operational performance in the October-December quarter (Q3) of 2024-25 (FY25), driven by solid growth in its automotive (auto) and farm equipment segments. Higher volumes improved operating leverage, expanding margins.
Petrol price was hiked by Rs 1.50 a litre and diesel by 45 paisa a litre.
International oil prices have hit a six-month low, helping Indian fuel retailers breakeven on petrol but they continue to lose money on diesel - the most used fuel in the country, officials said. The world's best-known crude benchmark, Brent was trading at $94.91 per barrel on Thursday after concerns of a global recession led to it slipping to a six-month low of $91.51 on the previous day. The current rates are a relief to India, which is 85 per cent dependent on imports for meeting its oil needs.
Speaking to mediapersons in Lucknow, he said, "There is no mechanism with the central government to curb the rising price of vegetables including onion; that can be done by the state governments."
The government is mulling a marginal hike in petrol and diesel price along with an excise duty cut on auto fuels to cut the Rs 7,840 crore (Rs 78.40 billion) loss public sector oil firms are incurring every month on selling fuel below cost.
State-run fuel retailers are losing about Rs 135 crore (Rs 1.35 billion) per day on sale of petrol, diesel, LPG and kerosene and the government is looking at proposals to make up for these losses, a senior official said.
With global crude oil prices climbing to their highest level in two-and-a-half years, Oil Minister S Jaipal Reddy on Friday said a ministerial panel will take a call on raising petrol and diesel prices.
TMC MPs were told about the problem in running an economy of India's size and the problems of public finance.
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