Fuel Price Cuts

The headline retail inflation is expected to ease to its lowest level in five months in July due to declining food prices as well as the lagged effect of a cut in fuel taxes, Barclays said.

Jet fuel (ATF) prices on Monday were cut by the steepest ever 12 per cent, the second reduction in as many weeks, on softening international oil prices amid recessionary fears.

Oil prices fell $1 in early trading in Asia to below $100 a barrel on Monday, cutting into gains from Friday, as attention turned back to rising COVID-19 cases in China and the prospect of lockdowns again reducing fuel demand in the world's top oil importing nation.

Jet fuel (ATF) prices on Saturday were reduced by 2.2 per cent, reflecting a fall in international oil prices.

The Eknath Shinde-led Maharashtra government could reduce the Value Added Tax on petrol and diesel because previous finance minister Ajit Pawar kept the state's economy in a good shape, the Nationalist Congress Party (NCP) said on Thursday.

Cut in tax on petrol, diesel will cost Maharashtra government Rs 6,000 crore a year, but bring down inflation, says Chief Minister Eknath Shinde

The Finance Ministry has exempted domestic airlines running international flights from 11 per cent basic excise duty on ATF or jet fuel bought from oil marketing companies.

Maharashtra will reduce the Value Added Tax or VAT on fuel, effectively bringing down the prices in the state, Eknath Shinde said today in a big populist move as the new Chief Minister of Maharashtra.

Government can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices

Petrol and diesel prices have been kept steady for a month after the government's much-needed move to cut excise duty on May 21.

Surging retail inflation likely eased in May on lower fuel costs, but price pressures remain elevated, and the rate was expected to have held above the Reserve Bank of India's upper tolerance level of its 2-6 per cent target band for the fifth month in a row.

Petrol, Diesel Prices Today: Fuel prices remained unchanged on June 9, 2022 for the 18th consecutive day across four metros

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said a cut in VAT on fuel will help soften inflationary pressures as well as expectations.

Higher than usual imports of Russian oil at significant discounts to market prices may limit near-term working capital needs of fuel retailers

The already-elevated India's crude oil basket price is rising, with the average based on daily costs for June jumping to over $115 per barrel, compared to $109.51 in May and $102.97 in April.

The headline retail inflation is expected to ease to its lowest level in five months in July due to declining food prices as well as the lagged effect of a cut in fuel taxes, Barclays said.

Jet fuel (ATF) prices on Monday were cut by the steepest ever 12 per cent, the second reduction in as many weeks, on softening international oil prices amid recessionary fears.

Oil prices fell $1 in early trading in Asia to below $100 a barrel on Monday, cutting into gains from Friday, as attention turned back to rising COVID-19 cases in China and the prospect of lockdowns again reducing fuel demand in the world's top oil importing nation.

Jet fuel (ATF) prices on Saturday were reduced by 2.2 per cent, reflecting a fall in international oil prices.

The Eknath Shinde-led Maharashtra government could reduce the Value Added Tax on petrol and diesel because previous finance minister Ajit Pawar kept the state's economy in a good shape, the Nationalist Congress Party (NCP) said on Thursday.

Cut in tax on petrol, diesel will cost Maharashtra government Rs 6,000 crore a year, but bring down inflation, says Chief Minister Eknath Shinde

The Finance Ministry has exempted domestic airlines running international flights from 11 per cent basic excise duty on ATF or jet fuel bought from oil marketing companies.

Maharashtra will reduce the Value Added Tax or VAT on fuel, effectively bringing down the prices in the state, Eknath Shinde said today in a big populist move as the new Chief Minister of Maharashtra.

Government can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices

Petrol and diesel prices have been kept steady for a month after the government's much-needed move to cut excise duty on May 21.

Surging retail inflation likely eased in May on lower fuel costs, but price pressures remain elevated, and the rate was expected to have held above the Reserve Bank of India's upper tolerance level of its 2-6 per cent target band for the fifth month in a row.

Petrol, Diesel Prices Today: Fuel prices remained unchanged on June 9, 2022 for the 18th consecutive day across four metros

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said a cut in VAT on fuel will help soften inflationary pressures as well as expectations.

Higher than usual imports of Russian oil at significant discounts to market prices may limit near-term working capital needs of fuel retailers

The already-elevated India's crude oil basket price is rising, with the average based on daily costs for June jumping to over $115 per barrel, compared to $109.51 in May and $102.97 in April.