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The Latest Breaking News from Petrol

Govt gives up Rs 14,000 crore in tax revenue after excise duty cut on petrol and diesel: Petroleum Ministry

The Indian government has sacrificed nearly Rs 14,000 crore in tax revenue by lowering excise duty on petrol and diesel. This move aims to protect consumers from rising fuel prices driven by the West Asia crisis. Despite this, oil companies continue to face daily losses.

The Economic Times

Oil cos keep bleeding, on slippery slope with Rs 600-cr loss per day despite multiple petrol, diesel price hikes

Petrol, diesel price hike: Despite the latest round of increases, officials acknowledged that current retail prices are still insufficient to fully offset the sharp rise in international crude costs, leaving public sector fuel retailers exposed to substantial daily losses.

The Economic Times

West Asia crisis not a diplomatic issue, will lead to higher fuel costs for common man: Finance Minister Nirmala Sitharaman

Fuel prices have risen again. Union Finance Minister Nirmala Sitharaman highlighted the West Asia crisis impact. She stated this crisis means higher fuel costs for citizens. The government is foregoing Rs 1 lakh crore in revenue. This is due to excise duty cuts on petrol and diesel. The government aims…

The Economic Times

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Why PM Modi not buying cheap oil from Russia & Iran, asks Kejriwal

Fuel prices have increased again. Arvind Kejriwal, AAP leader, questioned Prime Minister Narendra Modi. He asked why India is not purchasing cheaper oil from Russia and Iran. He stated that 140 crore people are facing hardships due to rising inflation. Petrol and diesel prices saw another hike. This is the…

The Economic Times

Petrol, diesel price surge a 'global crisis', don't hoard fuel: Maharashtra CM Fadnavis

Maharashtra Chief Minister Devendra Fadnavis labels the fuel price hike a global crisis. He urges citizens to avoid hoarding fuel to prevent supply chain disruption. Fadnavis also expresses confidence in the upcoming NEET retest being free of irregularities. Discussions are ongoing for legislative council seat sharing among ruling allies.

The Economic Times

Fuel Prices in India Hiked for Fourth Time in Two Weeks Amid Global Oil Shock

India has witnessed another sharp increase in fuel prices, with state-run oil marketing companies (OMCs) raising petrol and diesel rates for the fourth time in less than two weeks. The latest revision has intensified concerns among consumers and policymakers as global crude oil markets remain volatile due to escalating geopolitical…

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Ferrari's Luce leads bold leap into uncertain electric era

Ferrari is launching its first all-electric car, the Luce. This move comes as other sports car makers hesitate on EVs. The Luce, priced over €500,000, aims to define luxury electrification. Ferrari is investing heavily in electric technology. The car is expected to reach new buyers. Deliveries begin in October. Ferrari…

The Economic Times

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Modi govt has sprinkled petrol to burn common people's savings: Kharge

Fuel prices have seen a fourth increase in less than two weeks. Petrol and diesel rates have risen significantly, impacting household budgets and the economy. Congress leader Mallikarjun Kharge has strongly criticized the Modi government over these hikes. He questioned the beneficiaries of these price increases and highlighted the financial…

The Economic Times

‘Inflation Man Modi strikes again’: Rahul Gandhi on rising petrol, diesel prices

Congress leader Rahul Gandhi has strongly criticized Prime Minister Narendra Modi. Gandhi accused the government of increasing fuel prices after elections. He labeled the Prime Minister 'Inflation Man Modi'. Gandhi stated that the government raises petrol and diesel prices in phases. This strategy aims to avoid immediate public anger. The…

The Economic Times

'When nations engage in conflict, neighbouring countries are invariably affected': UP minister Om Prakash Rajbhar on repeated fuel price hikes

Fuel prices are rising again across India. A minister blames global supply issues due to the Iran-US conflict. Petrol prices in Delhi have now crossed 100 rupees per litre. This is the fourth increase in less than two weeks. Opposition parties are criticizing the government. They say the hikes pressure…

The Economic Times

Congress calls fuel hikes "silent tax on households", accuses govt of "corporate protection racket"

Fuel prices have risen for the fourth time in ten days. Congress leaders condemn these increases as a silent tax on Indian households. They accuse Prime Minister Narendra Modi of prioritizing corporate interests over public welfare. These hikes impact daily essentials and household budgets across the nation.

The Economic Times

‘Why are petrol, diesel prices rising despite OMCs’ super profits?’ Congress MP Manish Tewari slams fourth hike

"Why @HardeepSPuri Why ? State Run Oil Marketing Companies ( OMC's) made whopping profits in FY 2025 -26 . The Three OMC's made a cumulative profit of Rs . 77,280.65 crores a 130% jump over FY 2024-25. Even in (Quarter 4, Jan -March 2026) Q-4 2025-26 when Isreal and US…

The Economic Times

Petrol, Diesel price hiked today (May 25): From Delhi to Hyderabad, check complete list of costliest and cheapest cities.

Petrol, Diesel price today (May 25): Fuel prices saw another significant hike on Monday, with petrol and diesel increasing by Rs 2.61 and Rs 2.71 per litre, respectively. This marks the fourth increase in under two weeks, driven by rising international crude oil prices and a weakening rupee. In Delhi,…

The Economic Times

Petrol, Diesel price hike: Fuel rates increased for fourth time in less than two weeks

Petrol, Diesel price hike Today: Fuel prices have seen another hike. Petrol and diesel rates have gone up, marking the fourth increase in under two weeks. This rise reflects global crude oil price surges and ongoing geopolitical tensions. Oil companies have been facing significant daily losses. India has largely shielded…

The Economic Times

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The Conversation

Australia needs thousands more kerbside EV chargers. Here’s how to roll them out fast and fairly

Electric vehicles (EVs) are no longer a niche technology. Australians are buying them in growing numbers as petrol prices bite and the federal government continues its tax exemption until 2029.

AAP

US Treasury rout tests tolerance for higher loan costs

There is anxiety over petrol prices as well as where the bond market is headed, as the US economy is jolted by the impact of conflict with Iran.

The Guardian - AU

The kindness of strangers: I was a broke youth radio host who couldn’t afford a Beck ticket – then a listener called in

As a uni student my pay went towards petrol and books, with little left for fun. But I never expected anyone to buy me a ticket

The Economic Times

Centre pushed country into economic crisis: Akhilesh Yadav

The former Uttar Pradesh chief minister also attacked the Centre over rising prices of petrol and diesel and asked who was accountable for the state of the economy after 12 years in power, according to a Samajwadi Party (SP) statement.

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The Economic Times

'Purchase cheap oil, gas from Russia, Iran': Kejriwal expresses concern over fuel price hike

AAP national convenor Arvind Kejriwal on Sunday flagged long queues at petrol pumps in Gujarat and urged the Centre to purchase oil and gas from Russia and Iran at cheaper rates.

The Economic Times

Fuel austerity clouds demand outlook; India's annual product growth forecast cut 40%

India's fuel demand growth will slow significantly in late 2026. Government conservation efforts, rising oil prices, and a weaker rupee are impacting travel and consumption. Oil companies have increased petrol and diesel prices. Prime Minister Modi urged fuel saving. Analysts predict a substantial cut in India's refined products demand forecast…

The Economic Times

Petrol, Diesel Price Today May 24: Check fuel rates in Delhi, Noida, Lucknow, Faridabad, Bangalore, Gurgaon and other cities

Petrol Diesel Price Today May 24 check Delhi, Noida, Faribadad, Lucknow fuel rates: Fuel prices in India have surged again, with petrol nearing Rs 100 per litre in Delhi and diesel prices also climbing significantly. This marks the third recent increase in CNG rates, adding to public concern amidst geopolitical…

The Economic Times

Retail fuel price hike 'inevitable' if global oil pressures persist: BPCL's Director HR

Bharat Petroleum Corporation Ltd. Director HR Bharat Petroleum Corporation Ltd. Raj Kumar Dubey said another fuel price hike may become unavoidable if global energy disruptions persist, as policymakers weigh three options — raising retail fuel prices, oil companies absorbing losses, or government support through deficit financing.

The Conversation

Iran war is exposing South Africa’s dependency on diesel: what went wrong

It is forgivable to think that an oil shock mainly hurts at the petrol pump. After all, that is where households feel it first. But when my colleagues and I at the Bureau for Economic Research started digging through South Africa’s fuel data, a different story emerged – one that…

The Economic Times

India sees minimal fuel price hike amid global surge triggered by West Asia crisis

India witnessed one of the world's smallest fuel price hikes, with petrol and diesel rising only around 5% despite global surges. This moderation, following a nearly 76-day price freeze, was achieved through excise duty cuts and absorbing crude oil cost increases. Many nations, including neighbors like Nepal and Sri Lanka,…

The Economic Times

Petrol, diesel prices in India rise for 3rd time: Public calls fuel rate hike a "big blow", demands regulation

Fuel prices, including petrol, diesel, and CNG, have seen multiple increases recently, significantly burdening middle-class families and daily commuters. Residents express frustration over rising costs and stagnant incomes, while taxi drivers face challenges with unrevised fares. These hikes are attributed to global energy market volatility and are expected to raise…

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