New Delhi: Moody’s Investors Service on Thursday raised India’s growth forecast to 9.5 per cent for the calendar year 2022 and to 8.4 per cent for the coming fiscal beginning April 1, even as it flagged high oil prices and supply distortions as a drag on growth. Stating that the economic recovery from the first […]
Category: Oil & Gas
HPCL shares fall 1.1% as Nifty gains
Shares of Hindustan Petroleum Corporation Ltd. traded 1.1 per cent down at Rs 322.6 on Tuesday at around 12:54PM (IST), while the benchmark BSE Sensex advanced 155.47 points to 60551.1. As many as 34,680 shares changed hands on the counter with a total value of Rs 1.12 crore. The stock quoted a 52-week high price […]
Congress leaders hold protest, demand VAT be reduced on petrol, diesel in Delhi
New Delhi: City Congress leaders and workers staged a protest near the Delhi Secretariat at ITO on Tuesday demanding that Chief Minister Arvind Kejriwal reduce value added tax (VAT) on petrol and diesel. Delhi Congress president Anil Kumar said Kejriwal should learn from Punjab and bring down VAT on fuel. “People are deeply troubled due […]
Total tax on petrol down to 50 pc, diesel to 40 pc after duty cuts
New Delhi: The total incidence of taxes on petrol has come down to 50 per cent and that on diesel to 40 per cent following a reduction in excise duty by the central government, and by a slightly higher proportion in states that have also cut local sales tax or VAT on the fuel. The […]
Rahul Gandhi slams Centre over LPG price hike, says people forced to use ‘chulhas’
New Delhi: Former Congress chief Rahul Gandhi on Saturday hit out at the Centre over the rise in the price of LPG, saying that far away from the government’s development rhetoric, lakhs of families have been forced to use ‘chulhas’. The development vehicle of Prime Minister Narendra Modi is in the “reverse gear”, he said. […]
Petrol, diesel prices hiked for 4th straight day; petrol crosses Rs 120 mark in MP
New Delhi: Petrol and diesel prices on Sunday were hiked for the fourth straight day by 35 paise per litre each, pushing pump rates to new record high across the country with states with high incidence of local taxes such as Madhya Pradesh having the costliest fuel. The price of petrol in Delhi rose to […]
Petrol prices continue to rise, crosses Rs 108 in Delhi, Rs 114 in Mumbai
New Delhi: Petrol and diesel prices increased for the second consecutive day to touch an all-time high across the country. With a hike of 35 paise a litre, the price of petrol in Delhi rose to its highest-ever level of Rs 108.29 a litre. The price of diesel also saw a hike by 35 paise […]
High fuel prices push wholesale inflation to record high
Wholesale inflation was at 10.5% in April 2021, the highest it has ever been in the current series, which starts from April 2011. The following chart plots monthly inflation over the last nine years, starting from April 2012. This is the first time that wholesale inflation has entered double digits. The highest level before April […]
Didi: Why hike fuel prices?
Kolkata: West Bengal Chief Minister Mamata Banerjee has sought Prime Minister Narendra Modi to reveal his worth in terms of “price” while branding him the “biggest extortionist”, in her vitriolic retaliation to his blistering attack on her on Sunday. The angry Trinamul supremo also accused the Prime Minister and his deputy, Union home minister Amit […]
Petrol price at all-time high, diesel crosses Rs 81 in Mumbai
New Delhi: Petrol price on Thursday scaled to an all-time high of Rs 84.20 per litre in the national capital after state-owned fuel retailers hiked rates for the second day in a row. Petrol price on Thursday was hiked by 23 paise per litre and diesel by 26 paise a litre, according to a price […]
UK to ban gasoline, diesel car sales by 2030 as part of green plan
London: Britain will ban the sale of new gasoline and diesel cars by 2030, a decade earlier than its previous commitment, the prime minister said Tuesday. Boris Johnson made the pledge as part of plans for a green industrial revolution that he claims could create up to 250,000 jobs in energy, transport and technology. The […]
Mauritius oil spill ship operator to pay $9.4 million
Tokyo: The Japanese operator of a ship that leaked oil off the Mauritius coast pledged Friday to pay at least $9.4 million to help restore areas affected by the spill. Mitsui OSK Lines said in a statement that it planned “to contribute a total fund of about one billion Japanese yen over several years to […]