India's petrol, aviation turbine fuel, and LPG consumption shot up in October this year compared to the same month last year, reflecting the rising demand for these fuels in a growing economy.
The Minister cited global factors such as the war in the Middle East and voluntary cuts in oil production, which are influencing the oil prices in the global market.
A molestation-accused man’s son allegedly threw petrol on the complainant girl and set her afire after she refused to withdraw her case in the Khandwa district of Madhya Pradesh.
The remarks came after the comments from India's Oil Secretary, Pankaj Jain, suggesting a price drop last month and media reports indicating that Maharashtra's state elections are expected in early November.
Union Minister of Road Transport and Highways Nitin Gadkari on Monday clarified that he is not against providing incentives for any particular fuel technology.
Petrol and diesel after the hike of 50 paise and 55 paise respectively in Delhi are now being sold at Rs 99.11 per litre and Rs 90.42 per litre today.
Till Tuesday, fuel prices were steady since early November when the Centre reduced excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively.
Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.
If sources in the industry are to be believed, the minimum price of petrol and diesel may go up by Rs 5 a litre. It might go up as high as Rs 10 a litre if the tension between Russia-Ukraine does not ease by then.
The cost-of-living increase was mainly influenced by higher prices for petrol, mortgage interest payments, and second-hand motor cars, Dewbery said.
