Petrol, diesel at all-time high after prices hiked for the 4th straight day

News Network
October 3, 2021

New Delhi, Oct 3: Petrol and diesel prices were hiked again on Sunday to send rates soaring to new record highs across the country but top government officials insisted oil companies haven't passed on the entire increase warranted from international oil and gas rising to three-year highs and have ensured a UK-like situation of pumps going dry isn't seen anywhere in India.

Petrol price for the fourth straight day hiked by 25 paise a litre and diesel by 30 paise, according to a price notification of state-owned fuel retailers.

This sent the petrol price in Delhi to its highest ever level of Rs 102.39 a litre and to Rs 108.43 in Mumbai. Diesel rates too touched a record high of Rs 90.77 in Delhi and Rs 98.48 in Mumbai.

Prices differ from state to state depending on the incidence of local taxes.

Petroleum Secretary Tarun Kapoor said that oil companies are taking their own decision on aligning retail rates with the cost but they are ensuring extreme volatility is avoided.

"We are watching the situation and trying to ensure the impact of global volatility is moderated to a large extent," he said.

The basket of crude oil India buys has jumped to a near three-year high of $76.71 per barrel. International prices of petrol, against which local rates are benchmarked, have risen from $85.10 per barrel to $87.11 in just one day while diesel has gone up from $85.95 a barrel to $87.27.

This sudden spike in international oil prices follows global output disruptions but the entire increase in retail rates necessitated by such an increase is not being affected, another official with direct knowledge of the matter said.

"Just look at LPG rates. They have gone up from $665 to $797 in one month but oil companies haven't passed on the increase warranted from that," he said adding state-owned companies were absorbing a lot of volatility.

The increases, he said, have been "mild to moderate".

"Some people are making a big deal out of the 62 per cent hike in natural gas prices. But if you look at the rates previously at $1.79 per million British thermal units were abnormally low and way below cost. They have now gone up to $2.9. They still are less than the cost of production of $3.5 per mmBtu and are certainly lower than the $4.2 price that was prevalent in India a decade back," the official said.

Naturally, the hike in natural gas price will warrant an increase in CNG price but the increase is again being moderated there too, he said adding internationally the price of LNG in the spot market last week soared to an unprecedented $35.

"Compare to what is happening worldwide, we have managed the situation well," the official said. "Some of the developed nations such as the UK have seen petrol pumps go dry but you won't have heard of such a situation anywhere in India. Our oil companies are not just moderating retail prices but also ensuring uninterrupted supplies."

Officials said India believes the situation internationally is temporary and abnormal and things should stabilise over the next few days and weeks.

The fifth increase in its rates in less than a week's time has sent petrol prices above Rs 100 in most major cities of the country.

Similarly, the eighth increase in prices in 10 days has shot up diesel rates above Rs 100 mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.

State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) resumed daily price revisions on September 24 after international oil prices neared a three-year high. Global benchmark Brent crude is trading above $78 per barrel.

In eight price increases since September 24, diesel rates have gone up by 2.15 paise per litre. Petrol price has increased by Rs 1.25 per litre in five instalments this week.

When international oil rates fell in July and August, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre.

Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period.

India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices. 

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News Network
January 16,2026

Mangaluru: Mangaluru’s skyline is set for a high-end transformation as the coastal district of Dakshina Kannada prepares to shed its reputation for lacking premium hospitality. In a massive show of confidence, entrepreneurs have committed nearly ₹500 crores toward the construction of four new five-star hotels, a move experts say will finally plug the "luxury leak" to neighboring states.

For years, Mangaluru International Airport (MIA) has served as a gateway for high-net-worth travelers who, upon landing, promptly departed for Kerala or Kodagu due to a dearth of elite accommodation in the city. These new projects, three of which are backed by local visionary investors, aim to turn Mangaluru into a destination rather than just a transit point.

Mapping the Luxury Boom

The expansion is already in motion, with two major landmarks leading the charge:
•    Gurupura Property: Construction is already underway on a premier resort-style hotel.
•    Kuloor Hub: A sophisticated urban luxury hotel has been proposed for this strategic area.
•    Timeline: All four projects are slated for completion within the next 24 months, promising to fundamentally alter the region's tourism profile by 2028.

Why Now? The Investor Demand

The push for five-star infrastructure isn't just about tourism; it’s a direct response to the city’s industrial and academic evolution. Stakeholders from the IT and corporate sectors have long flagged the lack of premium suites as a hurdle for international business investments.

"Mangaluru is an powerhouse of mega-industries, medical excellence, and a burgeoning IT scene," noted a senior Tourism Department official. "It is an anomaly that a city with this much economic muscle has lacked a five-star anchor. By offering premium hospitality, we aren't just housing tourists; we are inviting global investors to stay, engage, and invest more deeply in our coast."

Strategic Retention

The "drain" of visitors to the neighboring state of Kerala has been a long-standing grievance for local businesses. With these new properties, the district administration expects a significant multiplier effect—benefiting local sightseeing, high-end retail, and the burgeoning medical tourism sector. As Mangaluru accelerates on its development trajectory, the message to the world is clear: the coast is finally ready to host you in style.

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News Network
January 8,2026

US President Donald Trump has "greenlit" the bipartisan Russia Sanctions Bill, which could be used to penalise Moscow's trading partners, including India, China and Brazil, over their purchase of Russian oil, said Republican Senator Lindsey Graham, a prominent defence hawk.

If passed, the Graham-Blumenthal sanctions bill would authorise the US President to levy up to 500 per cent tariffs on nations that knowingly purchase Russian oil or uranium and "fuel Russian President Vladimir Putin's war machine". The hard-hitting sanctions package is meant to economically cripple Moscow as the Trump administration continues to negotiate a deal to end the war that began with Russia's invasion of Ukraine. 

Graham said he met with Trump at the White House on Wednesday, during which the President extended his support to the bill that has been in the works for months. The development was also confirmed by a White House official while talking to the Associated Press.

"This will be well-timed, as Ukraine is making concessions for peace and Putin is all talk, continuing to kill the innocent," Graham said in a statement.

Graham said there could be a vote as early as next week, although it's unclear how likely that will be. The Senate is poised to take up a scaled-back government funding package next week that the House is currently considering, if the House passes it. The following week is a Senate recess timed to Martin Luther King Jr Day.

About The Russia Sanctions Bill

The bill, chiefly written by Graham and Democratic Senator Richard Blumenthal, allows the administration to impose tariffs and secondary sanctions up to 500 per cent on countries that purchase Russia's oil, gas, uranium and other exports. Doing so is meant to cut off the source of financing for much of Russia's military actions.

The White House has previously insisted on some revisions and flexibility for Trump in the sanctions package, but it is not clear whether any changes were secured.

The legislation has dozens of co-sponsors in the Senate, as well as a companion bill in the House, drafted by Republican Representative Brian Fitzpatrick.

The Trump administration is currently trying to finalise a peace deal to end the war in Ukraine, now nearly four years old, with special envoy Steve Witkoff and Jared Kushner, Trump's son-in-law, as the U.S. president's chief negotiators.

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News Network
January 6,2026

lamp.jpg

Chennai: The Madras High Court has strongly criticised the Tamil Nadu government for citing what it termed an “imaginary” law and order concern to delay the implementation of a court order permitting the lighting of the Deepam on the Deepathoon atop the Thiruparankundram hills in Madurai.

Upholding an earlier order passed by Justice G R Swaminathan, a division bench of Justices G Jayachandran and K K Ramakrishnan of the Madurai Bench dismissed the appeal filed by the state government and reaffirmed that the Deepam could be lit at the site during Karthigai Deepam.

The bench expressed displeasure over the government’s failure to implement the single judge’s directive, even after permission was granted for CISF personnel to accompany the petitioner, Rama Ravikumar, to the hilltop on December 3 to light the lamp. While allowing the ritual, the court clarified that the number of people permitted to climb the hill would be determined by the Archaeological Survey of India (ASI).

The state government had objected to the single judge’s order, arguing that allowing people to climb the hill and light the Deepam could trigger law and order issues, as the Sikkander Badusha Dargah is located about 50 metres from the Deepathoon. Meanwhile, officials of the Hindu Religious and Charitable Endowments (HR&CE) Department went ahead with lighting the lamp at the Uchipillaiyar temple at 6 pm, following established tradition.

Rejecting the government’s stand, the division bench said the apprehension of law and order problems was an “imaginary ghost” created by the authorities for their own convenience and criticised the district administration for not complying with the court’s order. The judges observed that instead of raising unfounded fears, the administration should have used the judgment as an opportunity to foster dialogue and harmony between communities.

The court also noted that neither the state government nor representatives of the dargah had produced any evidence to show that agama shastra prohibited the lighting of the Deepam at the site.

The Thiruparankundram hill has historically been a symbol of communal harmony, housing the Subramaniya Swamy temple, the Kasi Viswanathan temple and the Sikkander Badusha Dargah for centuries. However, the site became a flashpoint in February 2025 after protests by Hindu organisations over allegations that Lok Sabha MP Nawaz Kani consumed meat on the hill. Despite the controversy, local residents continue to live in peace and mutual coexistence. 

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