The petrol price on February 2 rose by 5 paise, while diesel price remained unchanged. Petrol prices in four major cities are Rs 73.1 per litre in Delhi, Rs 75.79 per litre in Kolkata, Rs 80.96 per litre in Mumbai and Rs 75.82 per litre in Chennai.
Oil rose on Thursday after a survey showed OPEC’s commitment to its supply cuts remains in place, even as US production topped 10 million barrels per day (bpd) for the first time since 1970.
While Arun Jaitley today cut excise duty cut by Rs 2 per litre and additional duty of excise by Rs 6 per litre, there will be no impact on the price of petrol and diesel as it also levied a Road and Infrastructure Cess of Rs 8 per litre.
Oil prices rebounded from earlier losses to end higher on Wednesday.
Domestic cement demand is likely stay muted in the remaining period of FY18 due to weak real estate activity, sand shortage and issues related to implementation of GST.
Tur (arhar)farmers in Maharashtra can now heave a sigh of relief. The state government is expected to commence tur procurement at Minimum Support Price (MSP) from farmers beginning February 1.
Fishermen whose livelihood will be impacted by the proposed Mumbai coastal road and the Bandra-Versova sea link (BVSL) projects are unlikely to get any compensation, unlike those impacted by the Mumbai Trans Harbour Link (MTHL) project, who received a one-time compensation of Rs 5,68,000 per family.
Prime Minister Narendra Modi’s energy reforms may be facing their toughest test yet. Soon after Modi came to power in May 2014, crude oil prices went into a tailspin. The resultant bonanza helped buffer government finances and led to the decontrol of fuel prices.
India on Monday urged the European Union (EU) not to ban or blacklist any seafood exporter immediately after finding problems with one consignment as this extreme step will work against the interests of all the stakeholders, Marine Products Export Development Authority (MPEDA) sources said.
State-run Central Marine Fisheries Research Institute (CMFRI) has kick-started a major project for boosting the open sea cage farming in Indian waters by launching a training course for 5,000 fishermen.
Union minister for commerce and industry Suresh Prabhu is likely to launch a Rs 2,600-crore special package announced by the Centre in December 2017 for the leather and footwear industry, at the 33rd India International Leather Fair (IILF) which will be inaugurated by him on Wednesday in Chennai.
Grape exporters from India are unhappy over the increase in import duties imposed by Bangladesh on Indian grapes.
Natural Rubber (NR) price has fallen by 22.15% this week, on a year-on-year basis. This is despite the slowdown in the estate-to-market stock movements, in tandem with the tapering down of the latex production season.
India’s yawning Natural rubber (NR) deficit is emerging as a cause of concern for the tyre industry, says a communique that Automotive Tyre Manufacturers Association (ATMA) has send to the ministry of commerce & industry.
Already a few assessments are available on how the new year would shape for the steel industry. Irrespective of the details on price movement and profitability, it is generally believed that the year 2018 would give more benefits to the steel industry in terms of demand, costs of production, market realisation and exports than what was experienced in the previous year.
The Economic Survey 2018 estimates that every $10 per barrel increase in the price of oil reduces growth by 0.2-0.3 percentage points. The survey said that country’s economic growth is expected to grow between 7 and 7.5% in the fiscal year 2019, while flagging concerns over rising crude oil price.
Pulses are not only a principal source of proteins for most Indians, but also constitute a major part of their daily diet. Disappointingly, their production in the country hasn’t kept pace with the growing demand, fuelled by the country’s rising population on the one hand, and its growing income on the other.
Indian seafood exports for the current fiscal are expected to cross $6 billion due to favourable market conditions and increase in the shrimp production.
Gold prices jumped to a level of over 14-month high gaining by Rs 1,000 in 19 days at the bullion market of national capital Delhi.
Chilli prices are on the rally and likely to touch record high by the year-end on lower supply, traders said. Farming area has declined by more than 30-40 % in the major growing areas with farmer moving to cotton and other crops.
After three and a half years, the petrol price in Mumbai breached the Rs 80 per litre mark on Monday, and hit Rs 80.30 per litre today, while the prices in Delhi, Kolkata and Chennai are Rs 72.43 per litre, Rs 75.13 and Rs 75.12 respectively.
BP Plc CEO Bob Dudley has said that the British oil major is looking at fuel retail business with Mukesh Ambani’s Reliance Industries (RIL).
The New Year has brought us the good news that manufacturing sector, after a gap of many months, had moved up by 10.2% in November 2017 which pushed up the overall industrial production rate to 8.4% in the month.
Petrol price in Mumbai on Monday touched Rs 80 per litre on back of higher crude oil prices due to global geopolitical risks, higher demands and production cuts. Here’s all you need to know about rising crude oil price.
After three years of gloom, the number 100 is finally starting to resurface in the forecasts of market analysts. A slump in new production outside the U.S. shale patch in 2019 could help to send Brent crude briefly back above $100 a barrel next year, according to London-based consultancy Energy Aspects.
If the cotton crop in Maharashtra and elsewhere became vulnerable to pink bollworm (PBW) attack, the blame should lie with the local seed companies who could not get the farmers to comply with the required protocol to resist it, Monsanto, which out-licensed Bollgard II technology to these firms, has said.
Brent crude futures fell 70 cents, or 1 percent, to settle at $68.61 a barrel after hitting a session low of $68.28.