Petrol price hikes: You may soon pay Rs 85 per ltr, check rate today

Petrol price hikes: You may soon pay Rs 85 per ltr, check rate today

We continue to witness a rising trend in fuel prices of India, and Tuesday was no different as the state-owned OMCs raised petrol prices between 29 paise to 32 paise per litre in various state capitals of India. Cities like Mumbai, Kolkata, New Delhi and Chennai are seeing this product hitting over 5-year highs.

High oil price: India staring at fuel subsidy burden up to Rs 53,000 crore

High oil price: India staring at fuel subsidy burden up to Rs 53,000 crore

With global crude oil prices hovering at record high levels, India is staring at a ballooning of fuel subsidies up to Rs 53,000 crore in the current financial year ending March 2019. State-owned Oil and Natural Gas Corp (ONGC) and Oil India (OIL) may have to bear a large part of the burden impacting their financials, according to Moody’s Investors Service.

Crude oil at $80 a barrel: How this will impact Modi govt’s fiscal maths

Crude oil at $80 a barrel: How this will impact Modi govt’s fiscal maths

Soon after global crude oil prices hit $80 a barrel, the government said it expected an increase of $25-50 billion in the import bill for 2018-19. That could lead to an oil import bill of $130-155 billion. India’s crude oil import bill for 2018-19 was estimated at $105 billion, according to the petroleum ministry’s Petroleum Planning and Analysis Cell (PPAC).