In Lok Sabha, Petroleum Minister Hardeep Puri says fuel prices set by oil marketing companies. But price of India's crude import basket has dipped by 32% in last one year.
The retail fuel joint venture of Reliance and BP is selling diesel at about 1 rupee a litre lower than that of state-run Indian Oil, Hindustan Petroleum and Bharat Petroleum.
In recent years, fuel prices have been kept static for weeks before assembly polls, only to be changed soon after. However, there's no clarity over who's deciding the prices.
RIL’s Jamnagar facility is lifting crude processing & deferring planned maintenance to take advantage of surging diesel demand. It’s already sending shipments to Europe.
When diesel was Rs 20-25/litre cheaper than petrol in 2012-13, cars running on it accounted for 58% of the market. Now, people buy less polluting options, and experts welcome it.
The survey comes ahead of the GST Council meeting Friday, which is likely to discuss bringing petrol, diesel and other petroleum products under the GST ambit.
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Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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