Fuel Prices

Tax cuts will not lower inflation significantly

BPCL and other public sector oil companies held petrol and diesel prices for a record duration despite a surge in the cost of raw materials (crude oil) to a 14-year high

The airline will deploy 60% more capacity in FY23 than in FY22 when it had to curtail operations in April due to surge of Delta variant and in Dec-Jan due to Omicron

Sharply rising prices are hitting older people the world over as global supply problems caused by the pandemic -- and made worse by the Ukraine war -- propel food and fuel costs higher

Sri Lanka raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country's worst economic crisis due to the shortage of foreign exchange reserves

At the operational level, Nomura sees margin benefit for companies in the backdrop of a cut in steel prices

Two sources aware of the matter said Reliance BP Mobility Ltd contends that PSU oil marketing companies control over 90% of the market and are the price-setters

"Oil prices are supported as gasoline markets remain tight amid solid demand heading into the peak U.S. driving season," said SPI Asset Management Managing Partner Stephen Innes

Analysts also believe that the government's export duty hike on steel and plastic bodes well for the auto sector due to elevated commodity inflation.

West Texas Intermediate climbed above $111 a barrel following four weekly gains, the longest such run since February.

The recent EV scooter fires were caused by defects in their batteries, including in the designs of the battery packs and modules, a DRDO report said. Read more in our top headlines.

Here is the Best of BS Opinion for Monday

However, among BJP-ruled states, Gujarat was unlikely to follow suit and reduce VAT on petrol and diesel, said senior officials

But experts call for other fiscal measures too to bring inflation down

The active cases comprise 0.03 per cent of the total infections, while the national Covid-19 recovery rate was recorded at 98.75 per cent, the health ministry said. Stay tuned for more updates

Decision to cost Rs 1,00,000 cr a year for central government, says Finance Minister after 'criticism/appraisal' of decision.

The loss to the exchequer due to the recent excise duty cuts will have to be borne through additional market borrowings, says Bloomberg.

OPS, urged the MK Stalin-led DMK government to now implement its promise regarding slashing fuel rates, made ahead of the 2021 Assembly polls and further benefit the citizens

Despite the tax reduction announced on Saturday, the rates were still high compared to 2014: Palanivel Thiaga Rajan

Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced a Rs 8 per litre cut in excise duty on petrol and Rs 6 a litre on diesel to avoid increase in fuel prices