AFP | February 13, 2018 5:50 PM
Iraq, the second largest oil producer in the OPEC cartel, plans to sharply increase its output capacity to seven million barrels a day by 2022, its oil minister said today.
Petrol, diesel prices cut again but you are still paying more while crude oil price falls back to $62.5Pragya Srivastava | February 13, 2018 4:48 PM
For the sixth day now the petrol and diesel prices have been cut, yet at Rs 72.94 and Rs 63.50 per litre respectively in Delhi, the prices are much higher than what they were back in mid-November when the Brent crude oil price was in the same range as on Tuesday.
FE Online | February 13, 2018 3:53 PM
In wake of unsatisfactory oilseed production this year, India’s yearly edible oil import bill is estimated to reach around Rs 650 billion fuelled by import of 15 million tonnes of cooking oil, Soybean Processors Association (SOPA) survey.
Petrol, diesel prices continue to fall for fifth day; this time for real as crude oil settles below $64 per barrelPragya Srivastava | February 12, 2018 12:13 PM
Petrol and diesel prices have continued to fall for the five straight days as the benchmark Brent crude oil price has settled below $64 per barrel. Check petrol and diesel prices in four metros: Delhi, Mumbai, Chennai and Kolkata.
Reuters | February 10, 2018 2:34 AM
Oil prices slid more than 3 percent on Friday as US futures fell below $60 a barrel for the first time since December on renewed concerns about rising crude supplies.
FE Bureau | February 10, 2018 2:08 AM
The Cotton Association of India (CAI) has lowered its estimates for cotton crop for the ongoing 2017-18 crop year at 367 lakh bales.
FE Bureau | February 10, 2018 2:05 AM
Union food ministry is considering a proposal to remove export duty so that any surplus sugar can be shipped out easily.
PTI | February 9, 2018 6:52 PM
The Centre is estimated to save Rs 1,600 crore annually in procurement of foodgrains as its tax expenses have reduced after the introduction of GST, Food Minister Ram Vilas Paswan said today.
Pragya Srivastava | February 9, 2018 11:59 AM
Petrol and diesel prices on February 9 have slumped for the second day on the back of low Brent crude oil price which has now settled below $65 per barrel after Iran announced to increase its production.
Reuters | February 9, 2018 4:06 AM
Oil prices fell to their lowest in seven weeks on Thursday amid fears of rising global supplies after Iran announced plans to increase production and US crude output hit record highs.
Nanda Kasabe | February 9, 2018 2:59 AM
Sugar prices have jumped by Rs 100 per quintal in the last three days on the back of speculations floating in the market that the Centre is likely to restrict sugar sales by mills to stop the current down slide.
FE Bureau | February 9, 2018 2:56 AM
The food ministry has stipulated sugar quantities that mills have to keep with themselves. The objective is to prevent a glut resulting in a fall in prices, according to a notification issued on Thursday.
Reuters | February 8, 2018 11:57 PM
Oil prices fell to their lowest in six weeks on Thursday after data showed US crude output had reached record highs and the North Sea’s largest crude pipeline reopened following an outage.
Gold prices in New Delhi fall by Rs 600, silver gets cheaper by Rs 450 as demand from jewellers shrinksFE Online | February 8, 2018 7:07 PM
Gold prices in New Delhi fell by Rs 600 while silver got cheaper by Rs 450 on Thursday in the bullion market following a decrease in demand from the local jewellers.
FE Online | February 7, 2018 12:05 PM
Petrol and diesel prices on February 7 were kept unchanged following a three-day fall in Brent crude oil price on Tuesday. The Brent crude oil price, however on Wednesday, up 43 cents after falling for three continuous days to $67.29 per barrel.
Nanda Kasabe | February 7, 2018 2:42 AM
The Maharashtra government has implemented the MACP scheme with financial support from the World Bank with the objective of ensuring better prices for farm produce and also ensuring that farmers get money in time, he said.
FE Online | February 6, 2018 3:39 PM
The demand was mainly driven by jewellery, which grew as GST stabilised, stock markets performed well and GDP growth leading to better economy and consumer sentiment, particularly in the rural areas, as the effect of demonetisation wore off.
PTI | February 6, 2018 12:11 PM
India’s gold demand grew by 9.1 per cent to 727 tonne in 2017 due to low prices coinciding with Dhanteras, positive economic backdrop and improved consumer sentiment especially in rural areas, according to a World Gold Council (WGC) report.
Pragya Srivastava | February 6, 2018 11:54 AM
The petrol price in Mumbai has topped Rs 81 per litre mark even as Brent crude oil price has been sliding down for the past three days. Check out the petrol and diesel price today in Delhi, Mumbai, Kolkata and Chennai.
PTI | February 6, 2018 10:46 AM
Global gold demand in 2017 fell by 7 per cent to 4,071.7 tonne compared to 2016 due to lower inflow into ETF, according to a World Gold Council (WGC) report.
Pragya Srivastava | February 5, 2018 2:21 PM
Economic Affairs Secretary Subhash Garg has said that the government may cut excise duty if the crude oil prices breach the comfort level. The price of Brent oil on Monday was $68.01 per barrel, while petrol price is at three-year-high and diesel price is at record high.
FE Online | February 2, 2018 4:06 PM
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.
Reuters | February 2, 2018 3:15 AM
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.
Budget 2018: No reason to rejoice as petrol, diesel prices not coming down; additional cess rebalances excise duty cutPragya Srivastava | February 1, 2018 4:57 PM
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.
Reuters | February 1, 2018 3:06 AM
Oil prices rebounded from earlier losses to end higher on Wednesday.
FE Bureau | February 1, 2018 3:05 AM
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.
Nanda Kasabe | February 1, 2018 4:54 PM
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.
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