It is currently working out the details of the quantum of price increase, which will vary depending on the model.
Pattali Makkal Katchi founder S Ramadoss said that Prime Minister Narendra Modi should meet the expectations of the people that prices will go down if he took over and 'it is the duty of the new government to do that.'
FLAG Telecom, a Reliance group company has denied media reports alleging that it has resorted to high pricing impacting the growth of Indian business process outsourcing units and information technology enabled services.
Petrol and diesel price hikes are likely to resume after state elections get over next week to bridge the Rs 9 a litre gap created by international oil prices soaring past $100 a barrel. International crude oil prices shot above $110 a barrel for the first time since mid-2014 on fears that oil and gas supplies from energy giant Russia could be disrupted, either by the conflict in Ukraine or retaliatory western sanctions. The basket of crude oil India buys rose above $102 per barrel on March 1, the highest since August 2014, according to information from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry.
West Bengal Chief Minister Mamata Banerjee on Thursday asked all political parties, including those supporting the United Progressive Alliance government from outside, to build pressure for roll back of hike in price of non-subsidised cooking gas.
Now, non-subsidised liquefied petroleum gas price is hiked by Rs 26.5 per 14.2-kg cylinder.
Petrol and diesel prices were on Tuesday hiked by 80 paise a litre while domestic cooking gas prices were increased by Rs 50 per cylinder, ending an over four-and-half month election-related hiatus in rate revision, sources said. Petrol in Delhi will now cost Rs 96.21 per litre as against Rs 95.41 previously while diesel has gone up from Rs 86.67 per litre to Rs 87.47. Simultaneously, the price of a non-subsidised LPG cylinder has been increased to Rs 949.50 for each 14.2-kg bottle in the national capital.
Finance Minister P Chidambaram has listed gas pricing as one of the issues he expects to resolve before the end of June.
Left parties on Friday opposed the hike in diesel price with the Communist Party of India-Marxist terming it a "gigantic fraud" and decided to hold protests across the country while targeting thr Trinamool Congress for its "double standard" on the issue.
A bench of Justice R Y Ganoo and Justice N M Jamdar ordered service of notices to the respondents, who apart from the central ministries also include the oil marketing companies, namely the Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation Ltd.
Amid growing street protest and unease in the party over the steep hike in petrol prices, Congress on Thursday hinted at a partial rollback as Oil Minister S Jaipal Reddy cut short his Turkeministan visit and met Sonia Gandhi's political secretary Ahmed Patel.
Milk supplies could improve with the monsoon, provided the rains are not excessive.
LPG price was increased to Rs 858.50 per 14.2 kg cylinder from Rs 714 previously, according to a price notification from State-owned oil firms. This is the steepest hike in rates since January 2014, when prices had gone up by Rs 220 per cylinder to Rs 1,241.
Maruti Suzuki India on Thursday said it is considering an increase in prices of its products from January next year to offset the impact of rupee depreciation.
Maruti Udyog on Thursday hiked prices of all its models by up to Rs 1,017 on account of the increased cess announced in Budget 2007.
Auto major Mahindra & Mahindra on Wednesday said it will hike prices of some of its models by 1-2 per cent soon to offset increasing input costs and inflation.
The government has been stringent with pricing changes. Prices of 651 essential medicines came down from April 1, 2023 by 6.73 per cent with the government capping ceiling prices of these drugs.
There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission
Petroleum Minister Murli Deora has announced that the cabinet will soon take a decision on fuel price hike.
PM's economic advisors have suggested a hike in petrol and diesel prices to tackle the global crude prices.
The iconic Jawahar Lal Nehru Stadium in New Delhi will be "dismantled" to create a Sports City that will cater to all major disciplines and include lodging facility for athletes.
UPA's largest ally Trinamool Congress on Friday strongly protested the unilateral petrol price hike, but said it has not taken any decision to pull out of the government and entrusted party supremo Mamata Banerjee to have the 'final word' on the issue.
With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy said on Tuesday there was an immediate need to raise fuel prices.
Within a day of the announcement of the increase in fuel prices by Union government, the electronic-bike manufacturers have witnessed record sales in their bikes and received lot of enquiries for setting up dealers network across the country. "Hike in petrol prices is a positive development for the e-bike industry and we expect it will boost the sales of battery driven bikes by at least 5-10 per cent," Avon Cycles Senior Manager (Marketing), U S Dubey said.
Indian Oil Corporation's (IOC's) Q2FY26 operating profit of 14,600 crore beat Street estimates and was up 16 per cent on a sequential basis. It surged 287 per cent over the year-ago quarter on account of an improved refining performance.
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.
The price of petrol was on Saturday hiked by a steep Rs 2 a litre, the second increase in rates this month, as devaluation of rupee against United States dollar made imports costlier.
While RBI is still battling rising inflation, it now has the tough task of managing inflation in the light of increased petrol prices.
The government has slashed allocation of natural gas used for LPG production, and diverted the low-priced fuel to city gas retailers like Indraprastha Gas Ltd and Adani-Total Gas Ltd to meet a part of their requirement for CNG/piped cooking gas supplies, according an official order. The government had in October and November last year cut supplies of low-priced natural gas coming from old fields such as Mumbai High and Bassein fields in the Bay of Bengal, to city gas retailers by as much as 40 per cent in view of limited output.
Car major Hyundai has announced a price hike prices across models, including recently launched Verna, between 1 to 1.5 per cent.
This is the fourth increase in auto fuel prices since May 1
United States President Donald Trump on Friday announced that his administration will impose a 100 per cent tariff on branded and patented pharmaceutical products beginning October 1, 2025, unless the manufacturing companies are building production facilities in the US.
French auto major Renault on Wednesday said it will increase vehicle prices in India from next month to offset the impact of high input costs.
Consumers may have to shell out more to buy television panels as manufacturers say they may raise prices again in April. The industry has been facing this issue of price rise post the pandemic and open cell prices have gone up by around 30 per cent in the last one year. And, television panel manufacturers expect this trend to continue.
India's manufacturing sector activity eased in September, as new orders, output and input buying rose at the slowest rates in four months, while job creation retreated to one-year low, a monthly survey said on Wednesday.
Hyundai Motors India on Thursday said it will raise the prices of its premium hatchback model 'Getz' by the end of this month.
Following the increase, petrol in Delhi will cost Rs 68.64 a litre.
