Fuel Price

The surge in crude oil prices and heightened tensions in West Asia have increased safe-haven demand for the dollar and pushed US Treasury yields higher.

The refinery, owned by Nigerian industrialist Aliko Dangote, has transformed the energy-rich country from an importer of refined oil into an exporter.

The WPI has been on an upward trajectory since the beginning of this fiscal year due to the West Asia war and the resultant blockade of the Strait of Hormuz.

Crude drives gasoline and diesel prices, while higher energy costs ripple through supply chains, raising prices from groceries to clothing and cosmetics.

The measures announced on Wednesday include tax cuts on the import and sale of ethanol, gasoline and gasoline blend, effective for 30 days.

Brent crude climbed to $99.49 a barrel as Iran reported fresh attacks on US military assets in the Gulf.

At the time of reporting, Wall Street cues remain predominantly negative as Nasdaq led the slide, closing down 1.03 per cent.

FADA President said rural India is increasingly becoming the key driver of demand, with growth becoming more broad-based ahead of the festive season.

The two increases will add to the financial burden of airlines, for whom ATF makes up to 40 per cent of operating costs.

Imports from Gulf suppliers have fallen sharply after the effective closure of the Strait of Hormuz, following the outbreak of war between Iran and the United States.

The former Delhi Chief Minister said the party would hold a 'Town hall' to discuss the technical and economic impacts of ethanol-blended fuel.

Jairam Ramesh shared on X, a post from Hindi daily that claimed sugar prices in the country rose by 40% in three months, jaggery rose 24%, rice by 16% and maize flour by 11%.

Under China's current pricing mechanism, domestic gasoline and diesel prices are adjusted every 10 working days in line with changes in international crude oil prices.