Citing West Asia tensions & 44% jump in Saudi benchmark rates, Centre raises 19-kg cylinder rate but caps ATF hike, holds domestic LPG and auto fuel rates steady despite OMC losses.
Data shows retail inflation eased in August as food prices moderated, but remained above upper end of RBI’s target band for a 2nd consecutive month, keeping policymakers watchful.
The govt had already closed public schools and asked civil servants to work from home to curtail transport. It plans to allow foreign firms to distribute fuel to ease the shortages.
While retail inflation hit an 8-year high of 7.8% in April, wholesale inflation surged to a 9-year high of 15.08% on the back of elevated food and energy prices in the same month.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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