The Latest Breaking News from Sujata Sharma

Fuel demand is rising at some Indian petrol pumps. Bulk diesel buyers are switching to retail outlets due to a large price gap. This is causing temporary shortages at a few locations. The government states that fuel supplies remain ample and stable across the country. Citizens are urged not to…

In a noteworthy shift, Indian oil corporations have curtailed daily losses by almost 25% thanks to a Rs 3 per litre increase in petrol and diesel prices. Nevertheless, ongoing global crude oil fluctuation and a depreciating rupee mean that fuel prices still linger below production costs. Currently, there are no…

India has consistently purchased Russian oil, irrespective of U.S. sanctions waivers, according to a petroleum ministry official. The decision is driven by commercial sense, with ample crude supply secured. This purchasing strategy remains unaffected by any waiver status.

India's oil minister highlighted the need to address state-run fuel retailers' mounting losses from selling petrol and diesel below market rates. Despite global price surges, pump prices remain unchanged, impacting companies significantly. Officials deem compensation fiscally unsustainable, suggesting a substantial but inflation-conscious price adjustment may be necessary soon.