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HomeTag: fuel prices

‘Not criticising anyone but…’ – On high fuel prices, PM Modi’s ‘special request’ to states for VAT reduction

Flagging higher fuel prices in many opposition-ruled states, Prime Minister Narendra Modi on Wednesday urged them 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. Modi raised the issue of many states not adhering to the Centre’s call for …

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Fuel prices: Solving the petroleum price puzzle

By Amit Malviya The recent increase in fuel prices have again become a convenient tool for opposition parties to derive political mileage through misrepresentations and half-baked rhetoric. The way critics are trying to shape the discourse on this issue shows that their real intent is to divert popular attention towards headline-grabbing news and thus circumvent any …

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Smriti Irani vs Congress leader in mid-air showdown over rising fuel prices – Watch viral video

Union Minister Smriti Irani faced a barrage of tough questions from a Congress leader over the sharp rise in fuel prices onboard a Delhi-Guwahati flight on Sunday. In a video that has gone viral, Mahila Congress’ Acting President Netta D’Souza was seen posing a series of questions to the minister. D’Souza, who was filming the …

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Third hike in auto fuel prices this week, OMC under-recoveries still high

Sumit Pokharna, vice-president and oil analyst with Kotak Securities, said if we assume the weighted average fortnightly price of Brent crude at $115 per barrel, OMCs’ gross marketing margin under-recovery on diesel was Rs 15.46 per litre on Thursday, while on petrol it was Rs 13.18 per litre. State-run oil marketing companies hiked retail prices …

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Analysts revise demand outlook for fuels: Fuel prices hiked 80 paise/litre for the second day

Gaurav Moda, partner, energy at E&Y, said since trucks carry majority of goods across the country, the rise in diesel price could drive up rates of most goods. As the oil marketing companies (OMCs) hiked retail rates for petrol and diesel by 80 paise/litre for the second consecutive day on Wednesday, analysts have revised the …

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Markets stay on crash course; crude oil prices surge to highest level since 2008

Sectorally, the Nifty Bank and Auto fell 4% each, and the realty index fell 5.5% on Monday. By Ruchit Purohit & Yoosef KP Market indices nosedived on Monday amid concerns over the economic cost of the ongoing war in Ukraine, which saw crude oil prices hitting their highest level since 2008. The Sensex slipped below …

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Govt must limit the Ukraine damage: Cut fuel excise duty to keep the fledgling recovery on track

As of now, oil marketing companies are estimated to be incurring ‘losses’ to the tune of Rs 10 per litre of fuel. It is difficult to assess the exact extent of the damage the sharp increase in crude oil prices, to over $105 a barrel, could cause to the economy following Russia’s attack on Ukraine, …

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Ukraine attack wounds markets: Indices crack nearly 5%, Brent crude tops $105 a barrel

Most experts believe that the fall in the markets is just a knee-jerk reaction to the global crisis and volatility will stay in the short term. However, the long-term outlook for Indian markets remains positive despite headwinds, and investors should use this opportunity to accumulate quality stocks. By Ruchit Purohit & Yoosef KP The equity …

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