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Inflation Hits All-Time High Of 12.94% As Crude, Manufacturing Costs Soar
Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent.
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India Stores Low-Cost Oil, Fills 32 Million Tons Of Commercial Storage
Indian refiners have stored about 32 million tons of oil in tanks, pipelines and on ships, taking advantage of low oil prices to help the nation cut its import bill, oil minister Dharmendra Pradhan said on Monday.
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Petrol, Diesel Prices Remain Unchanged For Third Straight Day Across Major Cities
Petrol and diesel prices across major cities of the country remained unchanged for the third consecutive day on Thursday even as global crude oil prices slumped to multi-year lows as a result of price war between Russia and OPEC countries. According to the official website of Indian Oil Corporation, on Tuesday, in Delhi, a litre of petrol is priced...
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Petrol, Diesel Prices Remain Unchanged For Second Consecutive Day
Petrol and diesel prices across major cities of the country remained unchanged for the second consecutive day on Wednesdayeven as global crude oil prices slumped to multi-year lows as a result of price war between Russia and OPEC countries. According to the official website of Indian Oil Corporation, on Tuesday, in Delhi, a litre of petrol is price...
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Government's Rs 70,000-Crore Stimulus No "Game Changer", Say Some Economists
On Saturday, Finance Minister Nirmala Sitharaman said the tax refund program for exporters from January 1 will cost the government Rs 50,000 crore ($7 billion) in revenue annually.
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Qatar And Its Neighbours May Lose Billions From Diplomatic Split
A diplomatic rift between Qatar and its Gulf neighbours may cost them billions of dollars by slowing trade and investment and making it more expensive for the region to borrow money as it grapples with low oil prices.
-
Saudi Arabia Faces Long Road To Recovery Post Oil Price Crash
Saudi Arabia had avoided a financial crisis due to low oil prices by slashing state spending and borrowing tens of billions of dollars abroad.
-
Air India Plans Hedging Fuel Costs Up To 25 Per Cent
As it looks to turnaround, Air India plans to hike the limit for hedging fuel costs to 25 per cent amid oil prices hovering at low levels.
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India Needs to Be a Low Cost Hub for Make in India Success: Jaitley
Stressing on making the most of the favourable low commodity prices, Finance Minister Arun Jaitley on Saturday said the country will have to become a low cost manufacturing hub for success of the government's Make in India programme.
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ONGC Aims to Cut Operational Cost on Falling Crude Oil Prices
With oil prices sliding to 12-year low, state-owned Oil and Natural Gas Corp (ONGC) plans to cut operational cost by at least 10 per cent by prioritizing activities and putting off the less-important ones to future.
-
Oil's Slide a Blow, Not a Boon to Asian Refiners
Although benchmark Brent and West Texas Intermediate crudes are just off multi-year lows, many refiners have previously agreed to pay higher prices for deliveries through to the end of this year and cannot pass those costs on to fuel buyers.
-
Oil Minister Hints at Deregulation of Diesel Rates
Under-recovery or the gap between retail selling price and the cost of import, this month dipped to an all-time low of 8 paise a litre, helped by the monthly increases and softening in international oil rates.
-
Govt gets desperate to slash oil import costs
India's top oil official is grasping at desperate measures to cut the country's oil costs by nearly $20 billion after the rupee's slide to record lows has left India facing an oil bill potentially 50 percent higher than on May 1.
-
Sanctions cost Iran $40 billion in 2012, says IEA
Sanctions by the West on Iran succeeded in slashing Iran's oil export revenue by $40 billion in 2012, the International Energy Agency (IEA) said today, as production last month hit a three-decade low point.
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Inflation may have picked up slightly in February
India's headline inflation likely picked up slightly 6.79 per cent in February from January's 26-month low of 6.55 per cent as higher global oil prices fed into the country's import costs, a Reuters poll showed. India imports two-thirds of its crude oil requirements.
-
Inflation Hits All-Time High Of 12.94% As Crude, Manufacturing Costs Soar
Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent.
-
India Stores Low-Cost Oil, Fills 32 Million Tons Of Commercial Storage
Indian refiners have stored about 32 million tons of oil in tanks, pipelines and on ships, taking advantage of low oil prices to help the nation cut its import bill, oil minister Dharmendra Pradhan said on Monday.
-
Petrol, Diesel Prices Remain Unchanged For Third Straight Day Across Major Cities
Petrol and diesel prices across major cities of the country remained unchanged for the third consecutive day on Thursday even as global crude oil prices slumped to multi-year lows as a result of price war between Russia and OPEC countries. According to the official website of Indian Oil Corporation, on Tuesday, in Delhi, a litre of petrol is priced...
-
Petrol, Diesel Prices Remain Unchanged For Second Consecutive Day
Petrol and diesel prices across major cities of the country remained unchanged for the second consecutive day on Wednesdayeven as global crude oil prices slumped to multi-year lows as a result of price war between Russia and OPEC countries. According to the official website of Indian Oil Corporation, on Tuesday, in Delhi, a litre of petrol is price...
-
Government's Rs 70,000-Crore Stimulus No "Game Changer", Say Some Economists
On Saturday, Finance Minister Nirmala Sitharaman said the tax refund program for exporters from January 1 will cost the government Rs 50,000 crore ($7 billion) in revenue annually.
-
Qatar And Its Neighbours May Lose Billions From Diplomatic Split
A diplomatic rift between Qatar and its Gulf neighbours may cost them billions of dollars by slowing trade and investment and making it more expensive for the region to borrow money as it grapples with low oil prices.
-
Saudi Arabia Faces Long Road To Recovery Post Oil Price Crash
Saudi Arabia had avoided a financial crisis due to low oil prices by slashing state spending and borrowing tens of billions of dollars abroad.
-
Air India Plans Hedging Fuel Costs Up To 25 Per Cent
As it looks to turnaround, Air India plans to hike the limit for hedging fuel costs to 25 per cent amid oil prices hovering at low levels.
-
India Needs to Be a Low Cost Hub for Make in India Success: Jaitley
Stressing on making the most of the favourable low commodity prices, Finance Minister Arun Jaitley on Saturday said the country will have to become a low cost manufacturing hub for success of the government's Make in India programme.
-
ONGC Aims to Cut Operational Cost on Falling Crude Oil Prices
With oil prices sliding to 12-year low, state-owned Oil and Natural Gas Corp (ONGC) plans to cut operational cost by at least 10 per cent by prioritizing activities and putting off the less-important ones to future.
-
Oil's Slide a Blow, Not a Boon to Asian Refiners
Although benchmark Brent and West Texas Intermediate crudes are just off multi-year lows, many refiners have previously agreed to pay higher prices for deliveries through to the end of this year and cannot pass those costs on to fuel buyers.
-
Oil Minister Hints at Deregulation of Diesel Rates
Under-recovery or the gap between retail selling price and the cost of import, this month dipped to an all-time low of 8 paise a litre, helped by the monthly increases and softening in international oil rates.
-
Govt gets desperate to slash oil import costs
India's top oil official is grasping at desperate measures to cut the country's oil costs by nearly $20 billion after the rupee's slide to record lows has left India facing an oil bill potentially 50 percent higher than on May 1.
-
Sanctions cost Iran $40 billion in 2012, says IEA
Sanctions by the West on Iran succeeded in slashing Iran's oil export revenue by $40 billion in 2012, the International Energy Agency (IEA) said today, as production last month hit a three-decade low point.
-
Inflation may have picked up slightly in February
India's headline inflation likely picked up slightly 6.79 per cent in February from January's 26-month low of 6.55 per cent as higher global oil prices fed into the country's import costs, a Reuters poll showed. India imports two-thirds of its crude oil requirements.
