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Petrol and diesel sales have been on the rise from the second half of March on the back of a pick-up in industrial and agriculture activity

Here's why Petrol, diesel sales soared in May

Petrol and diesel sales have been on the rise from the second half of March on the back of a pick-up in industrial and agriculture activity

India's petrol and diesel sales soared in May as agriculture demand picked up and cars cranked up air-conditioning with the onset of summer, preliminary industry data showed on Thursday.
Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, soared 9.3 per cent to 7.46 million tonne in May compared to the year-ago period.
In April, diesel demand had risen 6.7 per cent year-on-year and the consumption in May was better than that.
Month-on-month sales rose 4.2 per cent when compared with 7.16 million tonne of diesel consumed in April.
Petrol sales rose 10.4 per cent to 3.08 million tonne in May 2023 when compared with the same period last year. Sales were up 16.5 per cent month-on-month, the data showed.
Petrol and diesel sales have been on the rise from the second half of March on the back of a pick-up in industrial and agriculture activity. In the first half of March, petrol sales had fallen 1.4 per cent and diesel 10.2 per cent year-on-year.
And consumption soared in May as air-conditioning needs rose with a rise in temperature.
Consumption of petrol last month was 72 per cent more than COVID-marred May 2021 and 23.7 per cent more than pre-pandemic May 2019.
Diesel consumption was up 52.5 per cent over May 2021 and 6.8 per cent higher than in May 2019.
With the continued opening of the aviation sector, India's overall passenger traffic at airports inched closer to pre-COVID levels.
Reflecting the trend, jet fuel (ATF) demand jumped 8.7 per cent to 609,800 tonne during May when compared to the same period last year. It was 137.3 per cent higher than in May 2021 but 5.3 per cent lower than pre-Covid May 2019.
Month-on-month sales fell 0.7 per cent when compared with 613,900 tonne in April 2023.
Rabi crops, mostly wheat, barley, mustard, sesame and peas, are sown between October and December, and harvested from April to June. Wheat harvesting leads to a rise in diesel demand as harvesters and tractors run on that fuel.
The Indian economy has gained pace with a pick-up in government and private capital spending. Manufacturing too has picked up while the services sector has been robust. The country's oil demand was supported by strong industrial activity, industry officials said.
In terms of products, diesel was the main driver of oil demand as there was a pick-up in the agriculture sector, as well as requirements for power generation and industry. Use of the fuel in irrigation pumps and trucking supported diesel, they said.
Cooking gas LPG sales soared almost 10 per cent year-on-year to 2.4 million tonne in May. LPG consumption was 13 per cent higher than in May 2021 and 19.6 per cent more than pre-Covid May 2019.
Month-on-month, the demand rose 11.3 per cent when compared to 2.19 million tonne of LPG consumption during April, the data showed.&nbsp;

Flagging higher fuel prices in many opposition-ruled states, Prime Minister Narendra Modi on Wednesday urged oppn-ruled states to reduce VAT in "national interest" to benefit the common man and work in the spirit of cooperative federalism in this time of global crisis.
During his interaction with chief ministers through video conferencing, Modi said that the Centre had reduced excise duty to reduce the burden of prices of petrol and diesel on the people last November. He said the Centre had urged states to reduce taxes and transfer the benefit to the citizens.
PM listed the fuel prices in cities across the country and flagged higher rates in states like Maharashtra, West Bengal, Telangana, Andhra Pradesh, Kerala, Jharkhand and Tamil Nadu. 
Fuel prices in India 
The price of fuel has skyrocketed since the results of the 5 state assembly elections in the country.
On Wednesday, petrol in the national capital retails at Rs 105.41 per litre, while diesel is priced at Rs 96.67. In Mumbai, one litre of petrol is being retailed for Rs 120.51 and a litre of diesel is being retailed for at Rs 104.77.
India imports 85 per cent of its oil needs and the Russia-Ukraine invasion and escalating sanctions have hampered the oil flow across the globe.

PM Modi's first reaction to fuel price rise; makes 'special request' to states for cheaper petrol, diesel

PM Modi's special request to opposition-ruled states

PM's first reaction to the rise in fuel prices

During a virtual interaction with Chief Ministers on April 27, PM Modi highlighted high fuel prices in states ruled by Opposition parties.

In his first reaction to the recent spate of fuel price rise, Prime Minister Narendra Modi appealed to state governments to help make petrol and diesel cheaper.
During a virtual interaction with Chief Ministers on April 27, PM Modi highlighted high fuel prices in states ruled by Opposition parties.&nbsp;PM Modi said that state governments should reduce Value Added Tax, or VAT, to make fuel cheaper, while flagging rates in&nbsp;Maharashtra, West Bengal, Telangana, Andhra Pradesh, Kerala, Jharkhand, and Tamil Nadu.
Also read/watch|&nbsp;<a title="LIC IPO Announced: Offer to open on May 4 for retail investors" href="https://www.editorji.com/business-news/markets/lic-ipo-announced-offer-to-open-on-may-4-for-retail-investors-1651043866590">LIC IPO Announced: Offer to open on May 4 for retail investors</a>
The Prime Minister also said that his government had reduced excise duties on fuel in November last year to give relief to citizens.
Fuel prices in India&nbsp;
The price of fuel has skyrocketed since the results of the 5 state assembly elections were announced.
On April 27, petrol in the national capital retailed at Rs 105.41 per litre, while diesel was priced at Rs 96.67. In Mumbai, one litre of petrol retailed for Rs 120.51 and a litre of diesel retailed for Rs 104.77.
India imports&nbsp;85 per cent of&nbsp;its oil needs, and the Ukraine war and escalating sanctions on Russia have hampered oil flow&nbsp;across the globe.

Petrol diesel price latest news: Petrol and diesel prices have now remained unchanged for seven straight days after a dizzying rise over two weeks and the buzz from the corridors of power is that the worst may be over. 

Petrol diesel price latest news: Petrol diesel prices unchanged for 7 days, is the worst over?

Petrol in Delhi now costs Rs 105.41 per litre, while diesel rate is Rs 95.87 per litre to Rs 96.67, according to a price notification of state fuel retailers. 

Petrol diesel prices unchanged for 7 days, is the worst over?

Retail pass-through is close to $95 per barrel of crude oil while petrol and diesel cost Rs 105.41 and Rs 96.67 a litre, respectively

Petrol and diesel prices have now remained unchanged for seven straight days after a dizzying rise over two weeks and the buzz from the corridors of power is that the worst may be over.&nbsp;
CNBC&nbsp;TV18 reported quoting government sources that sustained hikes may not be required if crude stabilises at current levels. Around a month more of losses may still be recoverable by oil marketing companies.&nbsp;
Also watch/read |<a title="&nbsp;CNG, PNG prices see steep hike, check prices here&nbsp;" href="https://www.editorji.com/business-news/economy/cng-png-prices-see-steep-hike-check-prices-here-1649818764419">&nbsp;CNG, PNG prices see steep hike, check prices here&nbsp;</a>
Petrol price hikes began on April 6 post assembly elections and have escalated by Rs 10 in just 16 days as crude prices hovered about the $100/bbl mark and the rupee struggled vs the dollar.&nbsp;
Petrol in Delhi now costs Rs 105.41 per litre, while diesel rate is Rs 95.87 per litre to Rs 96.67, according to a price notification of state fuel retailers. In Mumbai, petrol and diesel prices per litre stand at Rs 120.51 and Rs 104.77 respectively. Rates across the country and vary from state to state, depending upon the incidence of local taxation.
Also watch/read |&nbsp;<a title="CPI soars to 6.9%, Food inflation skyrockets to 7.6%" href="https://www.editorji.com/business-news/economy/cpi-soars-to-6-9-food-inflation-skyrockets-to-7-6-1649764866994">CPI soars to 6.9%, Food inflation skyrockets to 7.6%</a>
The govt is not considering a excise duty cut right now as it may cost the exchequer over Rs 70,000 cr.&nbsp;

1. Petrol, diesel prices: 14th hike in 16 days takes total increase to Rs 10/l2. CNG price increase: IGL hiked rate by Rs 2.5/kg to Rs 66.61/kg in Delhi3. Meat shops shut in Delhi after south, east Mayors' Navratra order4. Ukraine tells UN to act against Russia or dissolve itself amid war crime claims5. Sri Lanka crisis: Emergency revoked; protests continue; govt loses majority

April 6 | EJ's Top 5 Headlines: petrol, diesel, CNG hikes; meat shops shut; Ukraine warns UN

From fuel prices seeing the 14th hike in 16 days, to a stark warning by Ukraine to the United Nations, here are Editorji's pick of the top 5 headlines this Wednesday morning.


1. Petrol, diesel prices: 14th&nbsp;hike in 16 days takes total increase to Rs 10/l 2. CNG price increase: IGL hiked rate by Rs 2.5/kg to Rs 66.61/kg in Delhi 3. Meat shops shut in Delhi after south, east Mayors' Navratra order 4. Ukraine tells UN to act against Russia or dissolve itself amid war crime claims 5. Sri Lanka crisis: Emergency revoked; protests continue; govt loses majority

<div>From fuel prices seeing the 14th hike in 16 days, to a stark warning by Ukraine to the United Nations,&nbsp;here are&nbsp;Editorji's pick of the top 5 headlines this Wednesday morning.</div>

1. Petrol, diesel prices: 14th&nbsp;hike in 16 days takes total increase to Rs 10/l Petrol and diesel prices were hiked on April 6 for the 14th&nbsp;time in 16 days. The total increase in the latest spate of hikes has reached Rs 10 per litre.
2. CNG price increase: IGL hiked rate by Rs 2.5/kg to Rs 66.61/kg in Delhi CNG prices saw a big spike on April 6, with IGL raising rates by&nbsp;Rs 2.5/kg to Rs 66.61/kg in Delhi. MGL hiked CNG prices by Rs 7/kg and domestic piped gas by Rs 5/scm.
3. Meat shops shut in Delhi after south, east Mayors' Navratra order Several meat shops were reportedly shut in the national capital after at least two of the three mayors - south and east - passed related orders due to the ongoing festival of Navratra.
4. Ukraine tells UN to act against Russia or dissolve itself amid war crime claims In a stark message amid allegations of Russian war crimes in Ukraine, President Volodymyr Zelenskyy told the United Nations to either take action, or dissolve the body.
5. Sri Lanka crisis: Emergency revoked; protests continue; govt loses majority
Even as the economic crisis in Sri Lanka continues, the state of emergency was revoked. People continued staging protests, as the embattled Rajapaksa government reportedly lost majority.

1. Slight relief: No hike in petrol, diesel prices todayApril 1 brought in slight relief for the 'aam aadmi' as petrol and diesel prices remained constant after 9 hikes in 10 days amounting to Rs 6.40 per litre.
2. Rs 250 hike in commercial 19-kg LPG cylinderPrices of 19-kg LPG cylinders meant for commercial use were hiked by Rs 250, taking their cost to Rs 2,253 per cylinder.
3. Russian foreign minister to meet Jaishankar todayAmid allegations by Ukraine and the West that Moscow is yet to act on its claim of pulling back troops in some places, Russian foreign minister Sergey Lavrov will meet his Indian counterpart S. Jaishankar in Delhi.
4.&nbsp;Violent protests in Sri Lanka over economic crisisViolent protests broke out in Sri Lanka on March 31, amid a burgeoning economic crisis leading to shortage of essentials including fuel, food, medicines etc.
5.&nbsp;IPL Points Table: RR at top, SRH at bottomAfter 6 days of matches, Rajasthan Royals are at the top of the IPL 2022 points table, with Sunrisers Hyderabad at the bottom.

April 1: EJ's Top 5 Headlines this morning

From a pause in the hike of petrol and diesel prices, to a key India-Russia meeting, here is Editorji's pick of the top 5 headlines this Friday morning.

&nbsp;
1. Slight relief: No hike in petrol, diesel prices today
 2. Rs 250 hike in commercial 19-kg LPG cylinder
 3. Russian foreign minister to meet Jaishankar today
 4.&nbsp;Violent protests in Sri Lanka over economic crisis
 5.&nbsp;IPL Points Table after Day 6: RR at top, SRH at bottom

<div>From a pause in the hike of petrol and diesel prices, to a key India-Russia meeting,&nbsp;here is Editorji's pick of the top 5 headlines this Friday morning.</div>

1. Slight relief: No hike in petrol, diesel prices todayApril 1 brought in slight relief for the 'aam aadmi' as petrol and diesel prices remained constant after 9 hikes in 10 days amounting to Rs 6.40 per litre.
2. Rs 250 hike in commercial 19-kg LPG cylinder Prices of 19-kg LPG cylinders meant for commercial use were hiked by Rs 250, taking their cost to Rs 2,253 per cylinder.
3. Russian foreign minister to meet Jaishankar today Amid allegations by Ukraine and the West that Moscow is yet to act on its claim of pulling back troops in some places, Russian foreign minister Sergey Lavrov will meet his Indian counterpart S. Jaishankar in Delhi.
4.&nbsp;Violent protests in Sri Lanka over economic crisis Violent protests broke out in Sri Lanka on March 31, amid a burgeoning economic crisis leading to shortage of essentials including fuel, food, medicines etc.
5.&nbsp;IPL Points Table: RR at top, SRH at bottom After 6 days of matches, Rajasthan Royals are at the top of the IPL 2022 points table, with Sunrisers Hyderabad at the bottom.

In a video going viral on social media, Yoga teacher and businessman Ramdev was seen losing his cool at a reporter. In the unverified video, Ramdev was commenting on rising fuel prices, when a journalist reminded him about his old remarks.
The incident reportedly occurred at an event in Haryana's Karnal. Ramdev first said that people must work harder, and that the government needs to collect tax to fund the army, and provide amenities.
When a reporter said that Ramdev had once campaigned for a government which will ensure petrol at Rs 40 per litre and LPG cylinders at Rs 300, the promoter of the Patanjali group grew irritated. At one point, Ramdev said, "I said it then, and I won't say it now. What will you do? Keep quiet now. If you ask that again, it won't be good."
On March 31, petrol and diesel prices were hiked for the ninth time in 10 days. Fuel prices were increased by 80 paise per litre, taking the total increase in 10 days to Rs 6.40 per litre.

Watch: Ramdev gets angry at reporter over fuel price hike question in viral video

((SHORT OPENING BYTE WITH TRANSLATION)) https://twitter.com/ghazalimohammad/status/1509224594606989313
(1:20 - 1:25) TRANSLATION - I said it then, and I won't say it now. What will you do? Keep quiet now. If you ask that again, it won't be good. &nbsp;
&nbsp;
VO: In a video going viral on social media, Yoga teacher and businessman Ramdev was seen losing his cool at a reporter. In the unverified video, Ramdev was commenting on rising fuel prices, when a journalist reminded him about his old remarks. The incident reportedly occurred at an event in Haryana's Karnal. Ramdev first said that people must work harder, and that the government needs to collect tax to fund the army, and provide amenities. When a reporter said that Ramdev had once campaigned for a government which will ensure petrol at Rs 40 per litre and LPG cylinders at Rs 300, the promoter of the Patanjali group grew irritated. On March 31, petrol and diesel prices were hiked for the ninth time in 10 days. Fuel prices were increased by 80 paise per litre, taking the total increase in 10 days to Rs 6.40 per litre.
&nbsp;
 BYTE RAMDEV, PROMOTER, PATANJALI GROUP https://twitter.com/ghazalimohammad/status/1509224594606989313
TWITTER@GHAZALIMOHAMMAD AUTHENTICITY UNVERIFIED
&nbsp;
 =========================================
 CAPTIONS Viral video of angry Ramdev versus reporter Ramdev was speaking on rising fuel prices Reporter reminded Ramdev of his old comments Ramdev threatened reporter to 'keep quiet' Fuel prices hiked for 9th&nbsp;time in 10 days on March 31
&nbsp;

<span style="margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: #000000; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">On March 31, fuel prices were increased by 80 paise per litre, taking the total increase in 10 days to Rs 6.40 per litre.

In a video going viral on social media, Yoga teacher and businessman Ramdev was seen losing his cool at a reporter.&nbsp;In the unverified video, Ramdev was commenting on rising fuel prices, when a journalist reminded him about his old remarks.
The incident reportedly occurred at an event in Haryana's Karnal.&nbsp;Ramdev first said that people must work harder, and that the government needs to collect tax to fund the army, and provide amenities. When a reporter said that Ramdev had once campaigned for a government which will ensure petrol at Rs 40 per litre and LPG cylinders at Rs 300, the promoter of the Patanjali group grew irritated. At one point, Ramdev said, "I said it then, and I won't say it now. What will you do? Keep quiet now. If you ask that again, it won't be good."
Also watch:&nbsp;<a href="https://www.editorji.com/business-news/petrol-diesel-prices-hiked-by-80-paise-total-hike-at-rs-6-4-lt-in-2-weeks-1648688338177" target="_blank">Petrol, Diesel prices hiked by 80 paise, total hike at Rs 6.4/lt in 2 weeks</a>
 On March 31, petrol and diesel prices were hiked for the ninth time in 10 days.&nbsp;Fuel prices were increased by 80 paise per litre, taking the total increase in 10 days to Rs 6.40 per litre.

Petrol, Diesel prices hiked by 80 paise, total hike at Rs 6.4/lt in 2 weeks.Price of petrol & diesel in Delhi at Rs 101.81 per litre & Rs 93.07 per litre respectively today (increased by 80 paise) In Mumbai, the petrol & diesel prices per litre at Rs 116.72 & Rs 100.94 (increased by 84 paise)In Chennai, the price of petrol is Rs 107.45 (increased by 76 paise) & diesel is Rs 97.52 (increased by 76 paise) and in Kolkata, the price of petrol is Rs 111.35 (increased by 83 paise) and diesel is Rs 96.22 (increased by 80 paise).

Petrol, Diesel prices hiked by 80 paise, total hike at Rs 6.4/lt in 2 weeks

Price of petrol & diesel in Delhi at Rs 101.81 per litre & Rs 93.07 per litre respectively today (increased by 80 paise) In Mumbai, the petrol & diesel prices per litre at Rs 116.72 & Rs 100.94 (increased by 84 paise)

Price of petrol &amp; diesel in Delhi at Rs 101.81 per litre &amp; Rs 93.07 per litre respectively today (increased by 80 paise)

Petrol and diesel prices were hiked again&nbsp;on Thursday by 80 paise&nbsp;per litre, taking the total increase in fuel&nbsp;prices to Rs 6.4 a litre&nbsp;in 2 weeks. This was the 9th increase in 10 days.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/driving-ahead-as-an-example-nitin-gadkari-rides-in-a-hydrogen-powered-car-1648626108221" target="_blank">Nitin Gadkari rides in a hydrogen-powered car</a> The price of petrol and diesel in Delhi stood at Rs 101.81 per litre and Rs 93.07 per litre respectively today (increased by 80 paise). In Mumbai, the petrol and diesel prices per litre were at Rs 116.72 and Rs 100.94, respectively (increased by 84 paise).
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/economy/power-cuts-ahead-coal-supply-concerns-as-heat-wave-sweeps-the-country-1648631201413" target="_blank">Power cuts ahead? Coal supply concerns as heat wave sweeps the country</a> In Chennai, the price of petrol was Rs 107.45 (increased by 76 paise) and diesel was Rs 97.52 (increased by 76 paise) and in Kolkata, the price of petrol was Rs 111.35 (increased by 83 paise) and diesel was Rs 96.22 (increased by 80 paise).
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/petrol-prices-on-fire-india-china-pakistan-which-one-is-charging-the-highest-1648617167725" target="_blank">Petrol Prices on Fire: India, China, Pakistan; which one is charging the highest?</a>
Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
Fuel prices have been rising daily after a four-and-half-month long hiatus due to state elections.
<a href="https://www.editorji.com/business-news/petrol-prices-on-fire-india-china-pakistan-which-one-is-charging-the-highest-1648617167725" target="_blank">Do you know how much of your petrol bill goes to the govt as tax? Click here to know.</a>

Petrol and Diesel prices set to be hiked by over 80 paise/litre, the first hike since November and as many experts are anticipating the first of many hikes to come. The new rates will be effective from March 22, 6:00 AM. Petrol in Delhi will cost Rs 96.3/lt which diesel will cost Rs 87.5/ltIn Mumbai, petrol would cost Rs 110.82 while diesel would stand at Rs 94.94.The price of petrol in Chennai would increase to Rs 102.2 while diesel will cost Rs 92.23.In Kolkata, petrol will cost Rs 105.47 and diesel Rs 90.59 per litre.While retail fuel has remained unchanged for a record 137 days, aviation fuel is up 50% in the last 3 months and bulk diesel prices up Rs 25/lt as crude prices soar 25% from the November levels. 

Fuel Price Hike, Diesel Petrol Prices hiked for the first time in 137 days

Petrol and Diesel prices set to be hiked by over 80 paise/litre, the first hike since November and as many experts are anticipating the first of many hikes to come. 

Petrol Diesel Price Hikes Begin

Petrol, Diesel prices hiked for the first time in 137 days

Petrol and Diesel prices set to be hiked by over 80 paise/litre, the first hike since November and as many experts are anticipating the first of many hikes to come.&nbsp; The new rates will be effective from March 22, 6:00 AM.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/air-ticket-prices-to-soar-airlines-now-paying-rs-1-lakh-per-kilolitre-for-fuel-1647487554707" target="_blank">Air ticket prices to soar, Airlines now paying Rs 1 lakh per kilolitre for fuel</a> Petrol in Delhi will cost Rs 96.3/lt which diesel will cost Rs 87.5/lt In Mumbai, petrol would cost Rs 110.82 while diesel would stand at Rs 94.94. The price of petrol in Chennai would increase to Rs 102.2 while diesel will cost Rs 92.23.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/personal-finance/do-this-before-march-31-else-your-pan-card-will-become-inactive-1647865941712" target="_blank">Do this before March 31 else your PAN Card will become inactive</a> In Kolkata, petrol will cost Rs 105.47 and diesel Rs 90.59 per litre. While retail fuel has remained unchanged for a record 137 days, aviation fuel is up 50% in the last 3 months and bulk diesel prices up Rs 25/lt as crude prices soar 25% from the November levels.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/lpg-cylinder-prices-hiked-for-the-first-time-since-october-1647917798498" target="_blank">LPG cylinder prices hiked for the first time since October</a>

Crude Oil surges, latest news from Russia-Ukraine war: Oil prices surged to the highest level in 14 years heading to $130/bbl as US threatens to ban Russian crude oil imports. Russia is the second largest exporter of oil globally after Saudi Arabia. “We are now talking to our European partners and allies to look in a coordinated way at the prospect of banning the import of Russian oil, while making sure that there is still an appropriate supply of oil on world markets,” Anthony Blinken, US Secretary of State said, “That’s a very active discussion as we speak.”  
After Russia invaded Ukraine, the White House slapped sanctions on exports of technologies to Russia's refineries and the Nord Stream 2 gas pipeline, which has never launched.
The United States imported more than 20.4 million barrels of crude and refined products a month on average in 2021 from Russia, about 8% of U.S. liquid fuel imports, according to the Energy Information Administration (EIA). For EU this number is even higher.So far, it has stopped short of targeting Russia's oil and gas exports as the Biden administration and EU weighs the impact on consumers. Gas prices in US have already topped the highest level since 2008. 
 

Ukraine-Russia war: Crude oil at $130/bbl, petrol diesel price to skyrocket on Tuesday

The sharp rise in oil prices, which already recently spiked, came after U.S. Secretary of State Antony Blinken said Sunday Washington and its allies are considering banning Russian oil and natural gas imports.

Crude oil surges to $130/bbl, highest since 2008

Oil prices surged to the highest level in 14 years heading to $130/bbl as US threatens to ban Russian crude oil imports.&nbsp;Russia is the second largest exporter of oil globally after Saudi Arabia.&nbsp; The sharp rise in oil prices, which already recently spiked, came after U.S. Secretary of State Antony Blinken said Sunday Washington and its allies are considering banning Russian oil and natural gas imports. This surge in crude prices adds pressure to the price at the pump in India that is set to rise rapidly as polling closes on March 7

Brent crude, traded above $128, the highest price seen since 2008.

Crude Oil surges, latest news from Russia-Ukraine war: Oil prices surged to the highest level in 14 years heading to $130/bbl as US threatens to ban Russian crude oil imports.&nbsp;Russia is the second largest exporter of oil globally after Saudi Arabia.&nbsp;
Also read &amp; watch |<a title="Russia-Ukraine war: Markets in a muddle, as Oil surges Gold glitters beyond 2000" href="https://www.editorji.com/business-news/markets/russia-ukraine-war-markets-in-a-muddle-as-oil-surges-gold-glitters-beyong-2000-1646621057400">Russia-Ukraine war: Markets in a muddle, as Oil surges Gold glitters beyond 2000</a> &ldquo;We are now talking to our European partners and allies to look in a coordinated way at the prospect of banning the import of Russian oil, while making sure that there is still an appropriate supply of oil on world markets,&rdquo; Anthony&nbsp;Blinken, US Secretary of State said,&nbsp;&ldquo;That&rsquo;s a very active discussion as we speak.&rdquo; &nbsp;
After Russia invaded Ukraine, the White House slapped sanctions on exports of technologies to Russia's refineries and the Nord Stream 2 gas pipeline, which has never launched.
The United States imported more than 20.4 million barrels of crude and refined products a month on average in 2021 from Russia, about 8% of U.S. liquid fuel imports, according to the Energy Information Administration (EIA). For EU this number is even higher. So far, it has stopped short of targeting Russia's oil and gas exports as the Biden administration and EU weighs the impact on consumers. Gas prices in US have already topped the highest level since 2008.&nbsp;
&nbsp;

Though the Russia- Ukraine war is in another continent of the world, but it is still going to impact Indian household budgets. 
From sunflower oil supplies to gas prices, here are things that may see a spike
1.Edible Oil
The sunflower oil prices in India will be increased as Ukraine and Russia together meet about 90 per cent of India’s sunflower oil needs. Any delay in shipment, leading to shortage can spike up the prices of edible oil, which is an essential oil in the country.
2. Fuel and Gas Hike
Even though Oil Marketing Companies (OMCs) have not hiked fuel prices since November 4 last year when the government brought some respite to consumers by reducing excise on diesel by Rs 10 and on petrol by Rs 5.
With the failure of diplomacy to deter Putin from going ahead, the crude oil market as well as gas prices are set to spiral further and put pressure on major oil importers like India.
3. Gold, precious metals
Precious metals, such as gold, as well as those used in industries, are expected to be hit hard by the Russia-Ukraine conflict.
Palladium, used in automotive exhaust systems and other technologies, such as smartphones, will get costlier as Russia is the top global exporter.
Meanwhile, gold, which is dear to Indians, is already getting costlier after Putin decided to deploy troops in the breakaway regions of Donetsk and Luhansk.

Russia-Ukraine war| here's how it can boil your household budget 

From sunflower oil to petrol prices, here are list of things that may see a spike

Impact of Ukraine-Russia War in Indian households 

Important metals like aluminum, cobalt, and copper will also be hit as &nbsp;Russia accounts for approximately six per cent of global aluminium supply

The<a href="https://www.editorji.com/business-news/russia-ukraine-war-information-warfare-begins-focus-moves-to-youtube-twitter-facebook-1645762909248" target="_blank"> Russia- Ukraine crisis</a> may be away from the borders of India but the attack impact will be felt in your household budget as well.
<h3>EJ Biz details how Putin&nbsp;is playing havoc with your money!&nbsp;</h3>
<h3>Edible Oil</h3>
Cooking oil prices are set to boil, Ukraine is the single-largest import destination of crude sunflower oil for India. Almost 85% of India's sunflower oil import came from the erstwhile member of the Soviet Union.&nbsp;This war comes at a time when inflation in edible oil is a major concern in the domestic markets. The price of refined sunflower oil in the retail market has shot up to Rs 161.94/litre as compared to Rs 145.03/litre, according to the Price Monitoring Cell of the Union Ministry of Consumer Affairs.&nbsp;
Also Watch:&nbsp;<a href="https://www.editorji.com/world-news/ukraine-crisis-russia-claims-day-1-of-attack-successful-dozens-dead-in-strikes-1645760364339" target="_blank">Ukraine crisis: Russia claims Day 1 of attack successful, dozens dead in strikes</a>&nbsp;
<h3>Petrol, Fuel Costs&nbsp;</h3>
Even though petrol prices have not been hiked since November 4 last year crude prices are now up over $20 dollars from that level. In fact&nbsp;every $1 rise in crude prices increases burden by $1.5 billion for the govt.&nbsp;

Petrol prices have been unchanged for over 75 days but that is likely to change now. Global crude prices have surged to a 7 year high to levels last seen in October 2014. This adds pressure for oil retail companies to raise prices at the pump. 
Brent - the key global oil benchmark - soared to over $87 per barrel mostly due to rising geopolitical tensions and supply-side disturbances due to Yemen's Houthi group's attack on oil facilities in the United Arab Emirates. Also, global demand is rising as inventories are waning. Goldman Sachs is betting that crude oil prices will be back at $100 by September this year. Experts see cumulative hikes of Rs 2-3/litre in petrol prices as crude hits close to the $90/bbl mark. 
 

Petrol price hike coming? Crude oil prices surge, Goldman bets on $100

Petrol prices have been unchanged for over 75 days but that is likely to change now. Global crude prices have surged to a 7 year high to levels last seen in October 2014. This adds pressure for oil retail companies to raise prices at the pump. 

Petrol price hike coming? 

Experts see cumulative hikes of Rs 2-3/litre in petrol prices as crude hits close to the $90/bbl mark.&nbsp;

Petrol prices have been unchanged for over 75 days but that is likely to change now. Global crude prices have surged to a 7 year high to levels last seen in October 2014. This adds pressure for oil retail companies to raise prices at the pump.&nbsp; Also watch:&nbsp;<a title="Microsoft spends $69 billion to buy the creator of Call of Duty and Candy Crush" href="https://www.editorji.com/business-news/microsoft-spends-69-billion-to-buy-the-creator-of-call-of-duty-and-candy-crush-1642564816169">Microsoft spends $69 billion to buy the creator of Call of Duty and Candy Crush</a>
Brent - the key global oil benchmark - soared to over $87 per barrel mostly due to rising geopolitical tensions and supply-side disturbances due to Yemen's Houthi group's attack on oil facilities in the United Arab Emirates. Also, global demand is rising as inventories are waning. Goldman Sachs is betting that crude oil prices will be back at $100 by September this year.&nbsp; Experts see cumulative hikes of Rs 2-3/litre in petrol prices as crude hits close to the $90/bbl mark.&nbsp;
&nbsp;

Ahead of Assembly elections in the state in 2022, the Punjab government on Sunday announced a cut in petrol and diesel prices by Rs 10 and Rs 5 respectively.Chief Minister Charanjit Singh Channi said the reduced prices, owing to decrease in the value added tax levied on diesel and petrol, will come into effect from Monday, 12 am.
Channi announced the move, which is set to cost the cost the state exchequer Rs 1000 crore annually, after a Punjab Cabinet meeting. The chief minister said&nbsp;such a measure has not been taken in 70 years, adding that petrol in Punjab has become the cheapest in the region and as compared to Delhi, petrol in Punjab is now Rs 9 less.
As fuel prices continued to rise, the Centre has last week announced a cut in excise duty on petrol by Rs 5 per litre and Rs 10 a litre on diesel.

Congress-ruled Punjab reduces petrol price by ₹10, diesel by ₹5

Congress-ruled Punjab has reduced petrol price by ₹10, diesel by ₹5. CM Channi announced the move, which is set to cost the state exchequer Rs 1000 crore annually

Punjab cuts petrol &amp; diesel prices by Rs 10 &amp; Rs 5&nbsp;respectively
CM Channi&nbsp;announced the cut ahead of polls early next year&nbsp;
Fuel cut&nbsp;to cost Rs 1000 crore&nbsp;annually to Punjab exchequer
Petrol in Punjab now Rs 9/litre less than Delhi: CM Channi

Channi announced the move, which is set to cost the state exchequer Rs 1000 crore annually, after a Punjab Cabinet meeting.

Ahead of Assembly elections in the state in 2022, the Punjab government on Sunday announced a cut in petrol and diesel prices by Rs 10 and Rs 5 respectively. Chief Minister Charanjit Singh Channi said the reduced prices, owing to decrease in the value added tax levied on diesel and petrol, will come into effect from Monday, 12 am.
Channi announced the move, which is set to cost Punjab exchequer Rs 1000 crore annually, after a Punjab Cabinet meeting.
 Also watch:&nbsp;<a href="https://www.editorji.com/business-news/petrol-politics-22-bjp-states-cut-vat-prices-below-rs-100-in-most-bjp-ruled-states-uts-1636191960452" target="_blank">Petrol politics: 22 BJP states cut VAT; prices below Rs 100 in most BJP-ruled states/UTs</a> The chief minister said&nbsp;such a measure has not been taken in 70 years, adding that petrol in Punjab has become the cheapest in the region and as compared to Delhi, petrol in Punjab is now Rs 9 less.
As fuel prices continued to rise, the Centre has last week announced a cut in excise duty on petrol by Rs 5 per litre and Rs 10 a litre on diesel.

A day after the Centre slashed the excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively, Shiv Sena MP Sanjay Raut on Thursday said the BJP has to be defeated completely if the fuel prices have to be brought down by Rs 50.
Slamming the Centre, Raut, whose party shares power with the NCP and Congress in Maharashtra, told reporters that one really needs to be harsh to raise the fuel prices to over Rs 100.
Petrol prices in the country were over Rs 100 for some time now.
ALSO WATCH:&nbsp;Petrol prices: BJP states sweeten Centre's gift with additional cuts in fuel ratesOn Wednesday, the central government cut the excise duty on petrol and diesel by a record Rs 5 and Rs 10 per litre, respectively, to help bring down rates from their highest-ever levels The move came a day after the BJP lost bypolls in some states controlled by it.
Raut said the reduction of price by Rs 5 is not going to serve any purpose and it should have been brought down first by at least Rs 25, and then Rs 50.
&ldquo;After the BJP's defeat in the bypolls, the Centre reduced the fuel prices by Rs 5. If the price has to be brought down by Rs 50, then the BJP must be defeated completely,&rdquo; he aid.
The Rajya Sabha member claimed people have to celebrate Diwali after taking a loan and there is no atmosphere of festivity because of the inflation.
Following the Centre's decision to reduce the excise duty, many states, especially those ruled by the BJP, also slashed the Value Added Tax (VAT) on fuels.
The BJP lost all the three Assembly seats in Himachal Pradesh and Mandi Lok Sabha seat in the northern state, bypolls for which were held on October 30.
It also failed to win Delgur Assembly bypoll in Maharashtra and the neighbouring Dadra and Nagar Haveli Lok Sabha seat by-election.

Shiv Sena MP Sanjay Raut: BJP has to be defeated completely to cut fuel prices by Rs 50

Shiv Sena MP Sanjay Raut: BJP has to be defeated completely to cut fuel prices by Rs 50. Here's a report

After the Centre slashed the excise duty on petrol and diesel, Shiv Sena MP Sanjay Raut on Thursday said the BJP has to be defeated completely if the fuel prices have to be brought down by Rs 50.
Slamming the Centre, Raut, whose party shares power with the NCP and Congress in Maharashtra, said that one really needs to be harsh to raise the fuel prices to over Rs 100.
Petrol prices in the country were over Rs 100 for some time now.
On Wednesday, the central government cut the excise duty on petrol and diesel by a record Rs 5 and Rs 10 per litre, respectively, to help bring down rates from their highest-ever levels. The move came a day after the BJP lost bypolls in some states controlled by it.
Raut said the reduction of price by Rs 5 is not going to serve any purpose and it should have been brought down first by at least Rs 25, and then Rs 50.
The Rajya Sabha member claimed people have to celebrate Diwali after taking a loan and there is no atmosphere of festivity because of the inflation.
&nbsp;

The Rajya Sabha member claimed people have to celebrate Diwali after taking a loan and there is no atmosphere of festivity because of the inflation.

A day after the Centre slashed the <a href="https://www.editorji.com/india-news/politics/priyanka-gandhi-s-swipe-at-centre-s-petrol-price-cut-says-move-out-of-fear-1636007808666">excise duty</a> on petrol and diesel by Rs 5 and Rs 10 per litre, respectively, Shiv Sena MP Sanjay Raut on Thursday said the BJP has to be defeated completely if the fuel prices have to be brought down by Rs 50.
Slamming the Centre, Raut, whose party shares power with the NCP and Congress in Maharashtra, told reporters that one really needs to be harsh to raise the fuel prices to over Rs 100.
Petrol prices in the country were over Rs 100 for some time now.
ALSO WATCH:&nbsp;<a href="https://www.editorji.com/india-news/petrol-prices-bjp-states-sweeten-centre-s-gift-with-additional-cuts-in-fuel-rates-1635999112610">Petrol prices: BJP states sweeten Centre's gift with additional cuts in fuel rates</a> On Wednesday, the central government cut the excise duty on petrol and diesel by a record Rs 5 and Rs 10 per litre, respectively, to help bring down rates from their highest-ever levels The move came a day after the BJP lost bypolls in some states controlled by it.
Raut said the reduction of price by Rs 5 is not going to serve any purpose and it should have been brought down first by at least Rs 25, and then Rs 50.
&ldquo;After the BJP's defeat in the bypolls, the Centre reduced the fuel prices by Rs 5. If the price has to be brought down by Rs 50, then the BJP must be defeated completely,&rdquo; he aid.
The Rajya Sabha member claimed people have to celebrate Diwali after taking a loan and there is no atmosphere of festivity because of the inflation.
Following the Centre's decision to reduce the excise duty, many states, especially those ruled by the BJP, also slashed the Value Added Tax (VAT) on fuels.
The BJP lost all the three Assembly seats in Himachal Pradesh and Mandi Lok Sabha seat in the northern state, bypolls for which were held on October 30.
It also failed to win Delgur Assembly bypoll in Maharashtra and the neighbouring Dadra and Nagar Haveli Lok Sabha seat by-election.

After the Centre's Diwali bonanza of a cut on petrol and diesel prices, several BJP-ruled states have rushed in to further sweeten the Centre's gift to people.
At least nine BJP-ruled states - Assam, Tripura, Manipur, Karnataka, Goa, Uttar Pradesh, Gujarat, Himachal Pradesh and Uttarakhand - have announced additional cuts in prices of petrol and diesel.
The move came hours after the Centre announced a cut in excise duty on petrol and diesel by ₹ 5 and ₹ 10 respectively on the eve of Diwali.
In poll-bound UP, Yogi Adityanath government has reduced the VAT by Rs 7 and Rs 2 respectively on petrol and diesel. Couple with the Centre's cut, the fuel will become Rs12 a litre cheaper in the state.
Assam, Tripura, Manipur, Karnataka, Gujarat and Goa have also reduced the prices of both the fuel by ₹ 7 per litre in addition to the Centre's relief.
Uttarakhand has reduced the VAT on petrol by ₹ 2 per litre. Himachal Pradesh Chief Minister Jairam Thakur said that the state will soon issue a notification to reduce VAT on petrol and diesel.

Petrol prices: BJP states sweeten Centre's gift with additional cuts in fuel rates

Petrol & diesel prices: BJP states sweeten Centre's gift with additional cuts in fuel rates. Know what's the new rate in your state

9 BJP-ruled states have further cut VAT on petrol and diesel

BJP states sweeten Centre's gift with additional cuts in fuel rates
At least 9 BJP-ruled states have further cut VAT on petrol and diesel
Centre slashed excise duty on petrol and diesel by ₹ 5 and ₹ 10 respectively&nbsp;
Assam, Tripura, Manipur, Karnataka, Gujarat and Goa&nbsp;cut VAT by Rs 7

BJP states have reduced VAT after the Centre announced a cut in excise duty on petrol and diesel by ₹ 5 and ₹ 10 respectively on the eve of Diwali

After the Centre's Diwali bonanza of a cut on petrol and diesel prices, several BJP-ruled states have rushed in to further sweeten the Centre's gift to people.
At least nine BJP-ruled states - Assam, Tripura, Manipur, Karnataka, Goa, Uttar Pradesh, Gujarat, Himachal Pradesh and Uttarakhand - have announced additional cuts in prices of petrol and diesel.
The move came hours after the Centre announced a cut in excise duty on petrol and diesel by ₹ 5 and ₹ 10 respectively on the eve of Diwali.
Read about: <a href="https://www.editorji.com/business-news/tomato-onion-prices-rise-sharply-on-high-fuel-rates-crop-damages-1634094539778" target="_blank">How high fuel prices affect costs of vegetables</a>
In poll-bound UP, Yogi Adityanath government has reduced the VAT by Rs 7 and Rs 2 respectively on petrol and diesel. Couple with the Centre's cut, the fuel will become Rs12 a litre cheaper in the state.
Assam, Tripura, Manipur, Karnataka, Gujarat and Goa have also reduced the prices of both the fuel by ₹ 7 per litre in addition to the Centre's relief.
Uttarakhand has reduced the VAT on petrol by ₹ 2 per litre. Himachal Pradesh Chief Minister Jairam Thakur said that the state will soon issue a notification to reduce VAT on petrol and diesel.

Petrol and diesel prices on Sunday were hiked for the fourth straight day by 35 paise per litre each, pushing pump rates to new record high across the country.
The price of petrol in Delhi rose to its highest-ever level of Rs 109.34 per litre and Rs 115.15 per litre in Mumbai while diesel now costs Rs 98.07 per litre in Delhi and Rs 106.23 in Mumbai.
Depending on the twin factors of local taxes and cost of transportation, petrol prices have even crossed the 120 per litre mark in several districts of Madhya Pradesh and border towns of Ganganagar and Hanumangarh in Rajasthan.
Also read:&nbsp;Fuel prices continue to rocket, increased for 5th straight day
Ganganagar now has the costliest fuel in the country with petrol costing Rs 121.52 a litre and diesel coming for Rs 112.44 per litre.

Petrol Diesel Price: Fuel prices soar to record high after being hiked for 4th straight day

Fuel prices continue to skyrocket across the country as prices rise for fourth consecutive day with petrol breaching ₹120/litre mark.

Fuel prices on fire, soar to record high

The price of petrol in Delhi rose to its highest-ever level of Rs 109.34 per litre and Rs 115.15 per litre in Mumbai.

Petrol and diesel prices on Sunday were hiked for the fourth straight day by 35 paise per litre each, pushing pump rates to new record high across the country.
The price of petrol in Delhi rose to its highest-ever level of Rs 109.34 per litre and Rs 115.15 per litre in Mumbai while diesel now costs Rs 98.07 per litre in Delhi and Rs 106.23 in Mumbai.
Depending on the twin factors of local taxes and cost of transportation, petrol prices have even crossed the Rs 120 per litre mark in several districts of Madhya Pradesh and border towns of Ganganagar and Hanumangarh in Rajasthan.
Also read:&nbsp;<a href="https://www.editorji.com/india-news/fuel-prices-continue-to-rocket-increased-for-5th-straight-day-1635059132112" target="_blank">Fuel prices continue to rocket, increased for 5th straight day</a>
Ganganagar now has the costliest fuel in the country with petrol costing Rs 121.52 a litre and diesel coming for Rs 112.44 per litre.

Paytm&nbsp;starts its Diwali&nbsp;celebrations early, the digital payment platform finally received a nod from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO), through which it plans to raise Rs 16,600 crore.
The Securities and Exchange Board of India (SEBI)&nbsp;bars investment advisors from advising on crypto, digital gold. This effectively bans SEBI-Registered Investment Advisors or RIAs can't offer advice or platform to trade unregulated products, said the regulator.
Billionaire Mukesh Ambani-led RIL reported consolidated net profit of Rs 13,680 crore in the September quarter (Q2), up 43 per cent from the same period last year
RIL share has gained 24.8% in one year and risen 32.5% since the beginning of this year.
ICICI Bank has given significant return in the current financial year FY22, rising more than 30 percent, outperforming Nifty Bank index by a strong margin which gained 21 percent in the same period.
While petrol has already hit the Rs 100-a-litre mark or more in all major cities of the country,&nbsp;Oil held above $85 a barrel after Saudi Arabia said that the OPEC+ alliance should maintain its cautious approach to managing global crude supplies given the threat to demand still posed by the pandemic.&nbsp;
&nbsp;

Top 5 business & market news you need to know

Start your Monday with top 5 biz bytes you need to have this morning

Top 5 Biz Bytes you need to have this morning

Earnings to IPOs, a lot of stocks and companies to watch in the news today.&nbsp;

Blockbuster earnings from Reliance and ICICI&nbsp;to a clearance (finally) for the mega Paytm&nbsp;IPO, a lot for traders to keep an eye. Here are the top stories you need to track-:
<ul>
<li>Paytm&nbsp;IPO&nbsp;Dhamaka:&nbsp;Paytm&nbsp;starts its Diwali&nbsp;celebrations early, the digital payment platform finally received a nod from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO), through which it plans to raise Rs 16,600 crore.</li>
<li>ICICI Firecracker Earnings: Country&rsquo;s second-largest private lender reported record high earnings in the quarter gone by with net income up about 30%. Brokerages such as Kotak say -&gt;&nbsp;Time to thump tables.. bank is scripting one of the best comebacks in financials in past decade.&nbsp;</li>
<li>RIL's&nbsp;Festive Results:&nbsp;Mukesh Ambani-led&nbsp;Reliance Industries&nbsp;Ltd (RIL) reported consolidated net profit of Rs 13,680 crore in the September quarter (Q2), up 43 per cent from the same period last year, on improved performance across key businesses even as finance cost fell 37% on a year-on-year basis</li>
<li>SEBI&nbsp;Sounds Alarm: The market regulator has barred&nbsp; investment advisors from advising on crypto, digital gold reiterating that these products are unregulated products.The SEBI statement assumes significance as the recent past has seen an exponential rise in the number of Indians trading in products like Bitcoins and other cryptocurrencies along with NFTs and digital gold.</li>
<li>Petrol Packs a Punch: Brace yourself for higher prices as crude continues to trade over $85/bbl and OPEC&nbsp;tells members to be cautious while managing supplies.&nbsp;</li>
</ul>

Petrol and diesel prices on Friday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre
This is the 14th time that petrol price has been hiked in two weeks, while diesel rates have gone up on 17 times in three weeks.
Both petrol and diesel prices raised by 35 paise in Delhi to Rs 105.14 and Rs 93.87 respectively. In Mumbai, diesel prices jumped to Rs 101.78 from Rs 101.40 while petrol prices hiked by 34 paise to Rs 111.09 in the financial capital of India.
This is the second straight day of 35 paise per litre increase in petrol and diesel prices.
Petrol and diesel prices in major Indian cities:
Petrol Delhi: ₹105.14/LMumbai: ₹111.09/LChennai: ₹102.40/LKolkata: ₹105.76/L
DieselDelhi: ₹93.87 ₹/LMumbai: ₹101.78/LChennai: ₹98.26/LKolkata: ₹96.98/L

14th increase in last 20 days: Petrol, diesel prices hiked again!

Petrol and diesel prices were hiked again across the country on Friday

Petrol prices increased by ₹0.35 paise to ₹105.14 per litre in the national capital

Petrol prices increased by&nbsp;₹0.35 paise to&nbsp;₹105.14 per litre in the national capital while the price of diesel was raised by the same amount to&nbsp;₹93.87 per litre

Petrol and diesel prices on Friday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre
Petrol has been hiked 14 times in the last 20 days while diesel prices have been hiked 17 times
Both petrol and diesel prices have been raised by 35 paise in Delhi and now stands at Rs 105.14 and Rs 93.87 respectively. In Mumbai, diesel prices jumped to Rs 101.78 from Rs 101.40 while petrol prices hiked by 34 paise to Rs 111.09 in the financial capital of India.
This is the second straight day of 35 paise per litre increase in petrol and diesel prices.
Petrol and diesel prices in major Indian cities:
Petrol Delhi: ₹105.14/L Mumbai: ₹111.09/L Chennai: ₹102.40/L Kolkata: ₹105.76/L
Diesel Delhi: ₹93.87 ₹/L Mumbai: ₹101.78/L Chennai: ₹98.26/L Kolkata: ₹96.98/L

The headline read retail inflation at 5-month low but to an average household that seems like a mockery to the exploding monthly budgets. From food to fuel the price rise is escalating, EJ Biz looks at the real inflation faced by consumers-:

Petrol &amp; Diesel prices: High taxes and rising crude prices continue to pump up the payout for fuel. With diesel prices above 100 and petrol retailing at Rs 110/litre, fuel prices are at a record high across the country. Petrol prices have risen over Rs 20 in just one year. Over half of your petrol bill is taxes, the actual cost of fuel at the pump is actually under Rs 50/litre.&nbsp;
PNG, CNG&nbsp;prices: If you thought going clean and green was a better option, you might be thinking again given that CNG&nbsp;prices have been hiked twice in the first two weeks of October. The pressure on prices increased as&nbsp;&nbsp;the Centre&nbsp;increased the rate of domestic natural gas by 62 percent.
LPG&nbsp;Gas Cylinder: Even if you decided to save on fuel bill and stay home, the cost of cooking at home also is burning a hole in the consumers pocket. LPG&nbsp;gas cylinder price now just shy of Rs 1000 mark. With four hikes in just 2 months, cylinders are now Rs 200 more expensive just in 2021.&nbsp;
Edible Oil: Be at the fuel pump or in the kitchen kadai, oil has taken over the household budget as prices continue to soar. Edible oil prices are up over 30% in just one year. For example, the average retail price of groundnut oil, which a year back was Rs 150/liter, has now gone up to over Rs 200/liter.&nbsp;
Tomato, Onion prices: Not peeling but buying onions at the current price is adding tears to the consumers eyes. With prices sky rocketing due to high fuel costs and also due to untimely rains damaging crops. Vendors are reporting that tomato and onion prices have soared to Rs 50/kilo and are likely to go up even further if fuel costs do not reduce.&nbsp;

&nbsp;

Inflation at 5-month low...Doesn't really feel like it

From food to fuel the price rise is escalating, EJ Biz looks at the real inflation faced by consumers

From food to fuel the price rise is escalating, EJ Biz looks at the real inflation faced by consumers-:

The headline read retail inflation at 5-month low but to an average household that seems like a mockery to the exploding monthly budgets. From food to fuel the price rise is escalating, EJ Biz looks at the real inflation faced by consumers.
<h3>1. Petrol &amp; Diesel prices</h3>
High taxes and rising crude prices continue to pump up the payout for fuel. With diesel prices above 100 and petrol retailing at Rs 110/litre, fuel prices are at a record high across the country. Petrol prices have risen over Rs 20 in just one year. Over half of your petrol bill is taxes, the actual cost of fuel at the pump is actually under Rs 50/litre.&nbsp; Also Watch |&nbsp;<a title="GatiShakti: PM Modi launches Rs 100 lakh crore master plan for infra" href="https://www.editorji.com/india-news/gatishakti-pm-modi-launches-rs-100-lakh-crore-master-plan-for-infra-1634111849891">GatiShakti: PM Modi launches Rs 100 lakh crore master plan for infra</a>
<h3>2. PNG, CNG&nbsp;prices</h3>
If you thought going clean and green was a better option, you might be thinking again given that CNG&nbsp;prices have been hiked twice in the first two weeks of October. The pressure on prices increased as&nbsp;&nbsp;the Centre&nbsp;increased the rate of domestic natural gas by 62 percent.
<h3>3. LPG&nbsp;Gas Cylinder</h3>
Even if you decided to save on fuel bill and stay home, the cost of cooking at home also is burning a hole in the consumers pocket. LPG&nbsp;gas cylinder price now just shy of Rs 1000 mark. With four hikes in just 2 months, cylinders are now Rs 200 more expensive just in 2021.&nbsp;
<h3>4. Edible Oil</h3>
Be at the fuel pump or in the kitchen kadai, oil has taken over the household budget as prices continue to soar. Edible oil prices are up over 30% in just one year. For example, the average retail price of groundnut oil, which a year back was Rs 150/liter, has now gone up to over Rs 200/liter.&nbsp;
<h3>5. Tomato, Onion prices</h3>
Not peeling but buying onions at the current price is adding tears to the consumers eyes. With prices sky rocketing due to high fuel costs and also due to untimely rains damaging crops. Vendors are reporting that tomato and onion prices have soared to Rs 50/kilo and are likely to go up even further if fuel costs do not reduce.&nbsp;
Also Watch |&nbsp;<a href="https://www.editorji.com/business-news/economy/lpg-cylinder-to-petrol-price-hikes-galore-global-energy-crisis-enters-india-s-kitchen-and-cars-1633495692083">LPG Cylinder to Petrol - price hikes galore! Global energy crisis enters India's kitchen and cars</a>
So even as the central bank reduces their inflation outlook for the year consumers across the country are seeing their expense list rise. So when the headline in the morning reads inflation eases, the common man questions where?

Once again, for the third consecutive day, petrol and diesel prices hid all-time highs on Thursday as international crude oil prices continue to rise after the recent&nbsp;announcement by OPEC+
Petrol and diesel rates across the country have been hiked for the second straight day by 30 paise and 35 paise respectively, taking the petrol price to&nbsp;₹103.24 per litre in Delhi whereas diesel has become expensive at&nbsp;₹91.77 per litre, as per price notification by state-run by state-run oil companies.
This is the third consecutive day of hikes. On Tuesday, petrol and diesel prices increased by 30 paise per litre.
The latest round of hikes came after the global benchmark Brent jumped to $82.53 per barrel, while West Texas Intermediate rose to $78.87 a barrel.
The price of cooking gas LPG was hiked by Rs 15 per cylinder on Wednesday, in line with a surge in international fuel prices.
Petrol and diesel prices in major Indian cities
City&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Petrol&nbsp; &nbsp; &nbsp; Diesel&nbsp;
Delhi&nbsp; &nbsp; &nbsp; 103.24&nbsp; &nbsp; &nbsp;91.77
Mumbai&nbsp; &nbsp;109.25&nbsp; &nbsp; 99.55
Kolkata&nbsp; &nbsp; 103.94&nbsp; &nbsp; 94.88
Chennai&nbsp; &nbsp; 100.75&nbsp; &nbsp;96.36
Bangalore&nbsp; 106.83&nbsp; &nbsp;97.40
Bhopal&nbsp; &nbsp; &nbsp; 111.76&nbsp; &nbsp;100.80
Lucknow&nbsp; &nbsp;100.31&nbsp; &nbsp; 92.20
Patna&nbsp; &nbsp; &nbsp; &nbsp;106.24&nbsp; &nbsp; 98.25
&nbsp;

Hat-trick of hikes for petrol and diesel!  And it is not over yet, Diesel crosses over 100 mark

Fuel On Fire

Cooking gas now costs ₹899.50 per cylinder in New Delhi

Petrol price above&nbsp;₹103 in Delhi as fuel prices hiked for third straight day

For the third consecutive day, petrol and diesel prices hid all-time highs on Thursday as international crude oil prices continue to rise after the recent&nbsp;announcement by OPEC+
Petrol and diesel rates across the country have been hiked for the second straight day by 30 paise and 35 paise respectively, taking the petrol price to&nbsp;₹103.24 per litre in Delhi whereas diesel has become expensive at&nbsp;₹91.77 per litre.&nbsp;
Also watch:&nbsp;<a title="Reliance Retail to open 7-Eleven stores in India" href="https://www.editorji.com/business-news/reliance-retail-to-open-7-eleven-stores-in-india-1633585075971">Reliance Retail to open 7-Eleven stores in India</a>
This is the third consecutive day of hikes. On Tuesday, petrol and diesel prices increased by 30 paise per litre.
The latest round of hikes came after the global benchmark Brent jumped to $82.53 per barrel, while West Texas Intermediate rose to $78.87 a barrel.
The price of cooking gas LPG was hiked by Rs 15 per cylinder on Wednesday, in line with a surge in international fuel prices.
Petrol and diesel prices in major Indian cities
City&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Petrol&nbsp; &nbsp; &nbsp; Diesel&nbsp;
Delhi&nbsp; &nbsp; &nbsp; 103.24&nbsp; &nbsp; &nbsp;91.77
Mumbai&nbsp; &nbsp;109.25&nbsp; &nbsp; 99.55
Kolkata&nbsp; &nbsp; 103.94&nbsp; &nbsp; 94.88
Chennai&nbsp; &nbsp; 100.75&nbsp; &nbsp;96.36
Bangalore&nbsp; 106.83&nbsp; &nbsp;97.40
Bhopal&nbsp; &nbsp; &nbsp; 111.76&nbsp; &nbsp;100.80
&nbsp;
&nbsp;
&nbsp;

If your name is Neeraj&nbsp;and you live anywhere close to Bharuch&nbsp;in Gujarat, quickly get to this petrol pump. In honour of India's Olympic Gold Medallist Neeraj&nbsp;Chopra, the petrol pump owner is giving out free petrol worth Rs 501 to anyone who shares the name with the athlete.&nbsp;
If your name is Neeraj and you can prove it with a photo identity card, you will not only have a smile on your face but also fuel in your vehicle's tank.&nbsp;
Also Read:&nbsp;Neeraj Chopra returns to a rousing welcome 
The offer is valid till Monday evening as the petrol pump owner Ayub&nbsp;Pathan&nbsp;has created quite a buzz with his unique marketing strategy but calls it a humble tribute to the superstar from Haryana.&nbsp;
Till Monday morning, almost 30 Neerajs&nbsp;have made it to the pump and got tanked up with free fuel and many more are expected to join the queue.&nbsp;

Tokyo 2020 Olympics: Free petrol for you if your name is Neeraj Chopra

In honour of India's Olympic Gold Medallist Neeraj&nbsp;Chopra, a petrol pump owner is giving out free petrol worth Rs 501 to anyone who shares the name with the athlete

Tokyo 2020 Olympics: Free petrol for you if your name is Neeraj 

<ul>
<li>Gujarat&nbsp;based petrol pump owner gives free petrol worth Rs 501 to anyone with the name Neeraj</li>
<li>All claimers need to have a valid govt photo id to get free petrol&nbsp;</li>
<li>Pump owner pays tribute to Neeraj&nbsp;Chopra and his success at Olympics</li>
</ul>

If your name is Neeraj&nbsp;and you live anywhere close to Bharuch&nbsp;in Gujarat, quickly get to this petrol pump. In honour of India's Olympic Gold Medallist Neeraj&nbsp;Chopra, the petrol pump owner is giving out free petrol worth Rs 501 to anyone who shares the name with the athlete.&nbsp;
If your name is Neeraj and you can prove it with a photo identity card, you will not only have a smile on your face but also fuel in your vehicle's tank.&nbsp;
<a href="https://www.editorji.com/story/neeraj-chopra-other-olympians-return-to-a-rousing-welcome-after-historic-show-in-tokyo-1628515319538" target="_blank">Also Read:&nbsp;Neeraj Chopra returns to a rousing welcome </a>
The offer is valid till Monday evening as the petrol pump owner Ayub&nbsp;Pathan&nbsp;has created quite a buzz with his unique marketing strategy but calls it a humble tribute to the superstar from Haryana.&nbsp;
Till Monday morning, almost 30 Neerajs&nbsp;have made it to the pump and got tanked up with free fuel and many more are expected to join the queue.&nbsp;

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