Petrol price crosses Rs 100/litre mark in Delhi Commodity 

Oil Holds Above $73 as Shrinking U.S. Stockpiles Tighten Market

By Administrator_ India Capital Sands Oil held above $73 a barrel as shrinking U.S. crude and fuel stockpiles added to bullish sentiment around the global demand recovery. Futures in New York were steady after rising 0.3% on Wednesday. Gasoline inventories unexpectedly slipped last week, while crude stockpiles fell for a fifth week, the longest run since January. The declines add to a tightening market as North America, China, and parts of Europe rebound from Covid-19. The recovery has accelerated as vaccinations are rolled out worldwide, boosting fuel consumption and helping to drain…

Read More
March inflation rises to four-month high of 5.52% due to food, core prices Economic News 

WPI inflation spikes to a 27-month high in Feb owing to costlier food, fuel

By Administrator_ India Capital Sands The wholesale price index (WPI)-based inflation rate rose to a 27-month high in February due to a broad-based hardening of prices of fuels, food items, and manufactured goods. However, diesel, which indirectly impacts prices of other items, continued to see deflation (a fall in prices), in February, albeit at a much lower rate than witnessed in the previous months. WPI inflation surged to 4.17 percent in February compared with 2.03 percent in the previous month, the data released by the ministry of commerce and industry showed…

Read More
Petrol, Diesel prices remain steady, govt tax collection on fuel swells by 459% in 7 years Business 

Petrol price nears all-time high after fuel retailers hike rates

By Administrator_ India Capital Sands Petrol price on Wednesday neared all-time high after state-owned fuel retailers hiked rates after a nearly month-long hiatus. Petrol price was raised by 26 paise per litre and diesel by 25 paise a litre, according to a price notification from oil marketing companies. After this increase, petrol in Delhi climbed to Rs 83.97 per litre from Rs 83.71 previously. Diesel rates rose to Rs 74.12 per litre from Rs 73.87. In Mumbai, diesel touched an all-time high of Rs 80.78. This is the first price…

Read More