Russia has increased oil supplies to India, according to Foreign Minister Sergey Lavrov. This comes as a crucial US waiver for purchasing Russian crude is set to expire. Lavrov met with Prime Minister Narendra Modi and External Affairs Minister S Jaishankar to discuss energy trade and strengthen the strategic partnership.
Indian Oil refineries are running at over 100 percent capacity. This ensures no fuel shortage at retail outlets. Prices for petrol and diesel have seen a small increase. The company is also focusing on alternative energy. Two hydrogen-powered buses have been provided to Delhi Metro. These buses offer zero emissions.
Indian Oil Marketing Companies have increased petrol and diesel prices by Rs 3 per litre each, and CNG by Rs 2/kg, following daily losses of Rs 1,000-1,200 crore due to the Iran war. This move is expected to add inflationary pressure, impacting transportation, logistics, and retail goods costs.
Aviation Turbine Fuel tax cut in Maharashtra offers relief to airlines. The state government reduced Value Added Tax to 7% from 18% until November 14. This move comes as airlines face high jet fuel costs due to the West Asia war. The reduction will make Mumbai airport more competitive. Airlines hope for further tax reforms.
Fuel prices in India saw their first increase in over four years on Friday. Petrol and diesel prices rose by approximately Rs 3 per litre. This move by state-run oil companies aims to address mounting losses due to soaring global crude oil prices. The escalation in West Asia and disruptions around the Strait of Hormuz…
Fuel prices have surged in West Bengal, impacting transport costs. Operators anticipate a three percent rise in freight charges. They are urging the government to monitor product prices and prevent traders from increasing them unfairly. State governments are also being asked to consider reducing local taxes to ease the burden on truckers.
A US nuclear industry delegation is set to visit India next week. They will explore cooperation in India’s civil nuclear sector. This follows New Delhi opening the sector to private players. New legislation has eased previous liability concerns for global companies. The delegation will meet with Indian officials and private sector leaders.
Petrol Diesel Price Increase: Fuel prices across India have risen by up to Rs 3 per litre. This hike is driven by surging global crude oil prices and tightened energy supplies. State-run fuel retailers had absorbed costs but are now passing them on. The increase reflects higher international crude costs and domestic pressure.
CNG Price Increase News: Price of CNG has been increased by Rs 2 per kilogram in Mumbai, now costing Rs 84/kg. This follows a Rs 3/litre hike in petrol and diesel prices by Oil Marketing Companies to offset losses from rising global oil rates, which have surged over $120 per barrel.