Petrol and diesel rates have not been lowered in India since May 2022 even though international oil prices are down 25% from June 2022 peak. Analysts believe ‘politics is at play’.
Fuel prices were first kept static to protect consumers from rise in oil prices, and then for OMCs to recover losses. With OMCs in profit now, daily pricing mechanism can be restored.
India has paid Russia nearly $20 billion for oil in just seven months, more than what it paid in the last ten years combined. It has only reaped higher profits of a few Indian companies.
European Union ban on Russian crude imports from 5 Dec will drive European refiners to buy more Middle East oil, putting them in competition with Asian buyers.
State-run processors — Indian Oil, Bharat Petroleum & Hindustan Petroleum — are 'reaching out' to term-contract suppliers, such as Saudi Arabia & Iraq, for extra barrels, buying on spot market.
Dealers claim OMCs telling them to put up hoardings promoting govt schemes bearing Modi's photo. OMCs deny the charge, say move only to promote schemes
With Gen Z more likely to gamble online than visit casinos, operators are adding sports, spas, street food and social spaces to turn gaming venues into lifestyle destinations.
Maritime security agreement opens avenues for joint development of naval ships and design, greater use of Indian shipbuilding and repair facilities by Japan.
At some point Pakistani dictators begin to show paranoia. That’s the strategic reality most relevant to India since the late fifties. Munir’s case is worse, like some sudden acrophobia.
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