Petrol

On Saturday, the price of petrol and diesel in New Delhi were increased again by 80 paise per litre. As per pump prices, petrol now costs Rs 102.61 per litre and diesel Rs 93.87 per litre in the national capital. In the financial capital Mumbai, prices were hiked to Rs 117.57 per litre for petrol and diesel to Rs 101.79 per litre. Besides, the prices of both the transport fuels were raised in Kolkata. The petrol prices rose to Rs 122.19 and diesel to Rs 97.02 per litre.

These prices were revised for the very first time on March 22, after a gap of more than four months. Notably, the selling price includes state levies, central excise and cess, amongst others. In New Delhi, the prices were increased again by 80 paise per litre. As per pump prices, petrol now costs Rs 101.81 per litre and diesel Rs 93.07 per litre in the national capital.

The domestic retail selling prices of petrol and diesel were increased for the seventh time in eight days on Tuesday. Consequently, in the past eight days, petrol and diesel prices have increased by Rs 4.80 per litre in the national capital. These prices were revised for the very first time on Tuesday, March 22, after a gap of more than four months.

State-owned oil marketing companies (OMC) on Friday raised petrol and diesel prices for the third time this week. These prices were revised for the very first time on Tuesday after a gap of more than four months. Accordingly, the increase in the selling price, which includes state levies, central excise and cess amongst others, came days after crude oil rates saw an astronomical rise due to the Russian-Ukrainian crisis.

The proceedings of the Rajya Sabha were adjourned till 12 p.m. on Wednesday after the Opposition created a ruckus over fuel price hike and inflation. Soon after the House assembled at 11 a.m, Chairman M. Venkaiah Naidu, after laying of the papers, said that the notices for discussion under rule 267 given by Opposition MPs, including Ramgopal Yadav, Vishmbhar Prasad Nishad, Binoy Biswam, K.C. Venugopal, Mallikarjun Kharge, stands rejected.

These prices were revised for the very first time on Tuesday after a gap of more than 4-months. Accordingly, the increase in selling price which includes state levies, central excise and cess amongst others came days after crude oil prices saw astronomical rise due to the Russian-Ukrainian crisis. In New Delhi, the price of petrol and diesel were increased again by 80 paise per litre.

State-owned oil marketing companies (OMC) on Tuesday raised petrol and diesel prices after more than four months of stable rates. Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.

India's merchandise exports in February 2022 rose to $33.81 billion, higher by 22.36 per cent on a year-on-year basis, preliminary data showed on Wednesday. Exports in February 2021 stood at $27.63 billion. According to the data furnished by the Commerce and Industry Ministry, last month's exports rose by 21.88 per cent over February 2020.

The Export Import Bank (EXIM) of India and the Sri Lanka government signed a LOC Agreement for purchase of petroleum products on Wednesday in the presence of Sri Lanka's Finance Minister, Basil Rajapaksa and the High Commissioner of India to Sri Lanka, Gopal Baglay.

The Centre in early November slashed excise duties on petrol and diesel by Rs 5 and Rs 10 per litre, respectively. Taking cue from this, some states too followed suit. "Reduction in central excise and subsequent cuts in VAT by most states has also helped ease petrol and diesel prices," the Survey said.