A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas/File Photo(REUTERS)
A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas/File Photo(REUTERS)

Petrol touches new high of 84.45 in Delhi, crosses 91 mark in Mumbai

This is the highest ever price of petrol in Delhi, while diesel is at a record high in Mumbai.
PTI
PUBLISHED ON JAN 13, 2021 11:58 AM IST

Petrol price on Wednesday touched a new high of 84.45 per litre in the national capital after state-owned fuel retailers hiked prices after a five-day hiatus.

Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies.

In Delhi, petrol now costs 84.45 per litre and diesel is priced at 74.63. In Mumbai, petrol comes for 91.07 a litre and diesel for 81.34.

This is the highest ever price of petrol in Delhi, while diesel is at a record high in Mumbai.

State-owned fuel retailers -- Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- had on January 6, resumed daily price revision after nearly a month-long hiatus.

Rates were hiked on two consecutive days - totalling 49 paise for petrol and 51 paise for diesel - before they hit a pause button again.

The price increase cycle resumed after international oil prices rose for the seventh day. US West Texas Intermediate (WTI) was up 1.3 per cent at USD 53.88 a barrel, while Brent crude was up 79 cents at USD 57.37.

Both benchmarks are trading at the highest since February, before the coronavirus outbreak in China began spreading across the world, forcing lockdowns that shaved off demand.

Petrol price had scaled to an all-time high of 84.20 per litre on January 7.

The previous highest ever rate of 84 a litre for petrol in Delhi was touched on October 4, 2018. On that day, diesel too had scaled to an all-time high of 75.45 a litre.

The government had responded to that situation by cutting excise duty on petrol and diesel by 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.

The highest level for petrol in Mumbai was on October 4, 2018, when it was 91.34.

Though petrol and diesel rates are to be revised on a daily basis in line with benchmark international price and foreign exchange, government-controlled fuel retailers have been moderating rates since the pandemic broke out.

This after they adjusted a 13 per litre hike in excise duty on petrol and 15 a litre on diesel, against a decrease in the retail selling price that was warranted by crude oil prices falling to an average of USD 19 per barrel in April.

Excise duty totals 32.98 per litre in petrol and 31.83 in diesel. VAT in Delhi totals to 19.32 a litre on petrol and 10.85 on diesel.

Since May 2020, petrol price has risen by 14.79 per litre and diesel by 12.34 a litre, price notifications of oil companies showed.

SHARE THIS ARTICLE ON
app
Close
India vaccinated 148,266 people on Monday, taking the total to 381,305. (Bloomberg)
India vaccinated 148,266 people on Monday, taking the total to 381,305. (Bloomberg)

Indian companies consider buying vaccines for employees

Reuters
PUBLISHED ON JAN 18, 2021 11:31 PM IST
Steel producer Jindal Steel and Power Ltd, autos-to technology conglomerate Mahindra Group and consumer goods giant ITC Ltd have begun initial checks on vaccines being available to buy after the government covers priority segments.
Close
FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks during a closing news conference for the International Monetary Finance Committee (IMFC), during the IMF and World Bank's 2019 Annual Meetings of finance ministers and bank governors, in Washington, U.S., October 19, 2019. REUTERS/Mike Theiler/File Photo(REUTERS)
FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks during a closing news conference for the International Monetary Finance Committee (IMFC), during the IMF and World Bank's 2019 Annual Meetings of finance ministers and bank governors, in Washington, U.S., October 19, 2019. REUTERS/Mike Theiler/File Photo(REUTERS)

IMF chief sees 'high degree of uncertainty' in global outlook

Reuters
PUBLISHED ON JAN 18, 2021 08:51 PM IST
IMF Managing Director Kristalina Georgieva said a new allocation of the IMF's own currency, Special Drawing Rights, would help give countries more fiscal space to tackle the health crisis and shift to a digital and green economy.
Close
Risks to the recovery could be in the form of additional regulatory measures, protracted restrictions on international travel and jump in the pandemic in new cases, said the report. (Representative Image)
Risks to the recovery could be in the form of additional regulatory measures, protracted restrictions on international travel and jump in the pandemic in new cases, said the report. (Representative Image)

Healthcare sector's revenue expected to grow 20% in 2021-22: Report

PTI
PUBLISHED ON JAN 18, 2021 07:58 PM IST
Domestic rating agency Icra has a stable outlook for the sector in the long-term outlook, given the swift rebound in occupancy as well as structural factors.
Close
After a decent show so far in 2020 despite the pandemic, the IPO market is awaiting a bumper crop with more than 30 IPOs worth over <span class='webrupee'>₹</span>30,000 crore lined up for the new year.(AP/ Representational)
After a decent show so far in 2020 despite the pandemic, the IPO market is awaiting a bumper crop with more than 30 IPOs worth over 30,000 crore lined up for the new year.(AP/ Representational)

IRFC IPO subscribed 65% on first day of offer

PTI
PUBLISHED ON JAN 18, 2021 07:58 PM IST
Price range for the offer, which is scheduled to close on Wednesday, has been fixed at 25-26 per share.
Close
The total amount released so far in 12 instalments is <span class='webrupee'>₹</span>72,000 crore at an average interest rate of 4.70 per cent.(PTI)
The total amount released so far in 12 instalments is 72,000 crore at an average interest rate of 4.70 per cent.(PTI)

GST compensation shortfall: FinMin releases installment of 6,000 cr to states

PTI, New Delhi
PUBLISHED ON JAN 18, 2021 07:00 PM IST
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of 1.10 lakh crore in revenue arising on account of implementation of Goods and Services Tax (GST).
Close
A visitor wearing a face mask to protect against the coronavirus walks among vehicles from Nissan at the Beijing International Automotive Exhibition in Beijing. China.(AP/ File)
A visitor wearing a face mask to protect against the coronavirus walks among vehicles from Nissan at the Beijing International Automotive Exhibition in Beijing. China.(AP/ File)

Nissan to promote Japan-based contract workers to full-time

Bloomberg
PUBLISHED ON JAN 18, 2021 05:34 PM IST
The hiring plan will “enable more efficient and effective business operations as well as improve individuals’ motivation and skills,” Azusa Momose, a spokeswoman for the company said.
Close
After eight years, the RBI under the current Governor Shaktikanta Das has been building up the foreign exchange (forex) reserve.(Mint file photo)
After eight years, the RBI under the current Governor Shaktikanta Das has been building up the foreign exchange (forex) reserve.(Mint file photo)

Forex intervention by RBI to touch USD 93 billion by March: Report

PTI, Mumbai
PUBLISHED ON JAN 18, 2021 05:13 PM IST
The report said they are more confident now that the RBI will continue to buy forex when the dollar is weakening.
Close
The United States put Huawei on a Commerce Department "entity list" in May 2019, restricting suppliers from selling US goods and technology to the company.(REUTERS)
The United States put Huawei on a Commerce Department "entity list" in May 2019, restricting suppliers from selling US goods and technology to the company.(REUTERS)

Trump admin slams China's Huawei, halting shipments from Intel, others: Report

Reuters
PUBLISHED ON JAN 18, 2021 04:38 PM IST
The United States put Huawei on a Commerce Department "entity list" in May 2019, restricting suppliers from selling US goods and technology to it.
Close
Foreign investors bought $2.4 billion worth of Indian stocks in the first two weeks of this month after investing the most since 2012 last year. (PTI PHOTO)
Foreign investors bought $2.4 billion worth of Indian stocks in the first two weeks of this month after investing the most since 2012 last year. (PTI PHOTO)

Sensex closes 470 points lower at 48,564 pts, Nifty ends session at 14,228 pts

Bloomberg
UPDATED ON JAN 18, 2021 04:20 PM IST
India’s equity benchmark fell in line with its regional peers on Monday, extending Friday’s decline. The drop moved the S&P BSE Sensex further away from the key 50,000 level it was looking to breach last week.
Close
The Nifty Metal Index was the worst performing index, falling 4.1% to its lowest since Jan 4.(AP)
The Nifty Metal Index was the worst performing index, falling 4.1% to its lowest since Jan 4.(AP)

Shares hit over 1-week low as shadow lenders drop on fears of tighter rules

Reuters, Bengaluru
PUBLISHED ON JAN 18, 2021 04:08 PM IST
The blue-chip NSE Nifty 50 index fell 1.06% to close at 14,281.3, while the benchmark S&P BSE Sensex was down 0.96% at 48,564.27.
Close
The investment strategy for the new fund will be the same as in the first fund, it said, adding that the investments will be made in three identified themes.(Reuters | Representational image)
The investment strategy for the new fund will be the same as in the first fund, it said, adding that the investments will be made in three identified themes.(Reuters | Representational image)

Tata Capital PE fund raises 1,250 cr to invest in urbanisation, manufacturing

PTI
PUBLISHED ON JAN 18, 2021 03:58 PM IST
The fund has both newer and existing investors, which include global and European fund of funds, Japanese institutions and a leading Asian development finance institution, a statement said.
Close
Mizoram’s first solar power plant has been commissioned at Tlungvel.(Reuters/ Representational photo)
Mizoram’s first solar power plant has been commissioned at Tlungvel.(Reuters/ Representational photo)

Total speeds up renewables push with $2.5 bln investment in Indian solar power

Reuters
PUBLISHED ON JAN 18, 2021 03:44 PM IST
For its investment, Total will get a 20% stake in AGEL and a seat on its board, as well as a 50% share in the Indian firm's portfolio of solar power assets, the French firm said.
Close
IRFC IPO comprises up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore and offer-for-sale of up to 59.40 crore shares by the government.(iStock)
IRFC IPO comprises up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore and offer-for-sale of up to 59.40 crore shares by the government.(iStock)

IRFC IPO opens for subscription; wise decision to invest, say experts

By hindustantimes.com | Edited by Shivani
PUBLISHED ON JAN 18, 2021 11:16 AM IST
As per experts, it will be a wise decision to invest in the IRFC IPO due to the strategic role of the Indian railways in financing growth. It also has a low-risk business model and lower credit risk.
Close
The S&amp;P BSE Sensex slid 0.3% to 48,878.1 as of 9:50 a.m. in Mumbai, with three stocks falling for each one that rose.(HT photo)
The S&P BSE Sensex slid 0.3% to 48,878.1 as of 9:50 a.m. in Mumbai, with three stocks falling for each one that rose.(HT photo)

Indian stocks drop for a second day, tracking losses in Asia

Bloomberg
PUBLISHED ON JAN 18, 2021 11:01 AM IST
Foreign investors have bought $2.4 billion worth of Indian stocks this month through Jan 14.
Close
The cryptocurrency could be hurt by an exodus of trend-following investors unless it can “break out” above $40,000 soon.(Reuters)
The cryptocurrency could be hurt by an exodus of trend-following investors unless it can “break out” above $40,000 soon.(Reuters)

Bitcoin retreats from $40,000 level strategists view as key

Bloomberg
PUBLISHED ON JAN 18, 2021 10:27 AM IST
Traders seeking clues about investor appetite for risk have been gripped by Bitcoin’s stunning rally and turbulent 12% slide.
Close
SHARE
Story Saved
OPEN APP