After hike in rates of petrol, diesel and LPG, the prices of CNG and cooking gas piped to household kitchens (PNG) in the national capital were hiked on Thursday by Re 1. CNG price in NCT of Delhi has been increased to Rs 59.01 per kg from Rs 58.01, according to the information posted on the website of Indraprastha Gas Ltd - the firm which retails CNG and piped cooking gas in the national capital. This is the third increase in CNG rates this month, which follows a spike in input (natural gas) prices across the globe.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
Close on the heels of a 70 paise per litre hike in petrol prices, the Oil Ministry is pushing for an increase in diesel and domestic cooking gas LPG prices, even though it is unsure of political support for the unpopular move with the ruling UPA alliance.
Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
Still battling the fallout of last month's steep Rs 7.54 a litre hike in petrol price, the government on Friday said it is not considering raising rates of diesel, domestic gas (LPG) and kerosene for the moment.
In most parts of the landlocked northeastern state, items such as rice, potato, onion and egg besides LPG cylinders and petrol are selling at rates much above the ones fixed by the government.
The GoM meet on fuel price hike remained inconclusive. The ministers evaluated various options of fuel hike but failed to arrive on a decision.
Against the backdrop of the Trinamool Congress' threat to pull out of United Progressive Alliance over the petrol price rise, Nationalist Congress Party chief Sharad Pawar on Sunday backed the government on the issue.
Petrol and diesel will cost Rs 2 a litre less from Wednesday after the first excise duty cut by the Modi government comes into effect.
The government was likely to take a decision on a hike in petrol and diesel prices in mid-July, a government official said on Monday. The review has been necessitated by the increase in global and domestic crude oil prices.
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
Jet fuel prices on Wednesday were hiked by over 18 per cent -- the steepest ever increase -- to all-time high levels after international oil price surged to a multi-year high.
A week after the steep hike in petrol prices by Rs 5 a litre, the government on Monday said a ministerial panel is likely to meet in the next few days to take a decision on raising diesel, LPG and kerosene rates.
As global tensions put pressure on the cost of crude oil, sending petrol prices above 1 a litre across the UK, This is Money investment writer Philip Scott investigates how investors can profit from rising oil prices.
You see the Thar is not just a Car.... It is The Thar.
Sugar prices are hovering near six-year highs, leaving a bad taste in Indian consumers' palates but sweetening the portfolios of investors in related stocks at Dalal Street. Shares of sugar manufacturers such as Piccadily Agro, DCM Shriram, Magadh Sugar, and Bajaj Hindustan have rallied up to a whopping 200 per cent so far in the financial year 2024 (FY24) as deficient monsoon rains in major sugarcane producer states like Maharashtra and Karnataka are expected to lead to a shortfall in sugar output ahead. In comparison, the BSE Sensex has modestly gained 11 per cent during this period.
Rupee depreciating to an all-time low of Rs 57.30 to a US dollar has wiped away most of gains arising from oil dropping below $90 a barrel for the first time since December 2010.
While moong and pork became dearer by 5 per cent each, urad price shot up by 4 per cent, vegetables by 2.63 per cent and coffee by 2 per cent during the week.
For the third time in two months, state-owned oil firms on Thursday slashed prices of petrol and diesel by over a rupee, in step with the global softening of crude prices.
A one rupee per litre cut in taxes would result in revenues being hit by Rs 30,000 crore on an annualised basis.
Sources said both Mukherjee and Deora were in favour of Rs 2-3 a litre hike in petrol and diesel prices and Rs 25 per cylinder increase in LPG rates.
With the deregulation of petrol prices, the future looks grim for the Indian consumers.
The Congress core group is meeting later in the evening where the implementation of Kirit Parikh Committee report on fuel pricing reforms may be discussed.
Retail inflation declined to 6.83 per cent in August after touching a 15-month high of 7.44 per cent in July, mainly due to softening prices of vegetables, but still remains above the Reserve Bank's comfort zone. The overall inflation in the food basket stood at 9.94 per cent in August as against 11.51 per cent in July, according to data released by the National Statistical Office (NSO) on Tuesday. Retail inflation based on the Consumer Price Index (CPI) was at 7 per cent in August 2022.
The Union government has collected Rs 94,181 crore through levy of excise duty on petrol and diesel in the first three months of the current fiscal on the back of a record tax on fuel that yielded 88 per cent higher revenue the previous financial year, the Lok Sabha was informed on Monday. Excise duty on petrol was hiked from Rs 19.98 per litre to Rs 32.9 last year to recoup gain arising from international oil prices plunging to multi-year low as pandemic gulped demand. The same on diesel was raised to Rs 31.8 from Rs 15.83 a litre, according to a written reply by Minister of State for Petroleum and Natural Gas Rameswar Teli in the Lok Sabha. This led to excise collections on petrol and diesel jumping to Rs 3.35 lakh crore in 2020-21 (April 2020 to March 2021), from Rs 1.78 lakh crore a year back, he said.
Diesel price was on Monday hiked by 50 paise per litre, excluding VAT, with effect from midnight tonight.
Signs of a strong pickup in hiring by companies are adding to the rosier outlook for Indian households.
Merc says it has completed offering petrol option along with diesel variants for all the models that it sells in India
India's fuel sales fell in the first half of April as a record rise in prices in a short 16-day period dented demand, preliminary industry data showed on Saturday. Petrol sales fell almost 10 per cent in the first half of April when compared with the same period in the preceding month, while diesel demand slid 15.6 per cent. Even cooking gas LPG, which had consistently shown growth even during the pandemic period, saw a 1.7 per cent month-on-month fall in consumption during April 1-15.
Finance Minister Piyush Goyal: 'I hope the Congress governments and other states like West Bengal, Odisha, Tamil Nadu, Andhra, Telangana will support our effort to bring petrol and diesel into the GST regime.'
Jet fuel (ATF) price on Saturday was slashed by 4.5 per cent and that of commercial LPG used in hotels and restaurants by Rs 25.5 per 19-kg cylinder. The price of a 19-kg commercial LPG cylinder was cut to Rs 1,859.50 in the national capital from Rs 1,885, according to a price notification from state-owned fuel retailers. This is the sixth reduction in price of commercial LPG since June, in step with softening international energy prices.
Reserve Bank Governor Shaktikanta Das on Wednesday ruled out upside risks to the 5.3 per cent inflation forecast for the current fiscal, saying the recent cut in excise duty on diesel and petrol as well as better management of supply-side issues on the food front have contained inflationary expectations. These measures are significantly positive for inflation management, he said. After months of calls for reducing taxes on fuels, the government, last week, cut the excise duty on diesel and petrol by Rs 10 and Rs 5 per litre, respectively.
Tata Motors is looking to consolidate its position in the SUV segment as it marks its entry into the highly competitive mid-size space which is currently dominated by South Korean and Japanese carmakers. The Mumbai-based auto major on Monday launched midsize SUV coupe Curvv with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August.
Jet fuel prices on Monday were hiked by a steep 5.3 per cent - the tenth straight increase this year -- to an all-time high, in line with a surge in global energy prices. The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 6,188.25 per kilolitre, or 5.29 per cent, to Rs 1,23,039.71 per kl (Rs 123 per litre) in the national capital, according to a price notification of state-owned fuel retailers. This is the 10th straight increase in jet fuel prices this year.
After natural gas prices, the government looks set to bite the bullet on auto fuel prices, with a panel of ministers scheduled to meet on June 7 to decide on freeing petrol and diesel prices.
Petrol prices in Delhi rose by Rs 4 a litre, while diesel rates rose by Rs 2 a litre, Oil Minister Murli Deora told reporters after a meeting with Prime Minister Manmohan Singh in New Delhi.
Notwithstanding the demand of the Left parties, Petroleum Minister Mani Shanker Iyar on Friday asserted that there would be "no rollback" of the hike in petro products prices.
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