-The New Indian Express Which means sometime last year, when crude was averaging $25 a barrel, petrol should have sold for Rs 50 a litre. Nearly two-and-a-half years ago, when global Crude oil prices were around $75 a barrel, petrol was selling at Indian pumps for Rs 75 a litre. Today, when Crude oil prices have fallen to $52 a barrel, petrol prices have hit an all-time high of Rs 86 or...
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Farmers want better APMCs, not ‘mukti’ from them, says AIKMS
-The Hindu The document argued that the diesel cost had been raised tremendously by the present government. The Left- affiliated All-India Kisan Mazdoor Sabha (AIKMS) on Sunday released a document countering the claims of the Modi government on the three contentious farm laws, saying that the government’s arguments for not repealing the legislations were “deceptive” and “untruthful”. It also accused the government of propagating “falsehood” to claim that the laws would help...
More »Explained: What explains Crude oil prices falling below the $0 mark -Udit Misra
-The Indian Express The first thing to understand is that, even before the Covid-19 induced global lockdown, Crude oil prices had been falling over the past few months. US oil markets created history on Monday when prices of West Texas Intermediate (WTI), the best quality of crude oil in the world, fell to “minus” $40.32 a barrel in New York. Not only is this the lowest crude oil price ever known —...
More »Trade worries
-Livemint.com If Crude oil prices surge on tensions in West Asia, our import bill could soar India’s December trade figures deepen concerns about the health of our economy. Official figures show that merchandise exports dipped 1.8% from a year earlier to $27.36 billion, marking the fifth straight month of decline. A consolation is that imports fell by a larger 8.8%, helping narrow the trade deficit. But the relief could be temporary. If...
More »Petrol prices up 15 paisa, diesel by 17 paisa as crude hits $70-mark
-PTI The retail pump prices of petrol in Delhi rose to Rs 75.69 per litre - the highest since November 2018, while those of diesel climbed to Rs 68.68, according to a price notification of state-owned fuel retailers. New Delhi: Petrol prices on Monday were hiked by 15 paisa a litre and diesel rates were increased by 17 paisa as global oil prices hit USD 70 mark in the wake of escalating...
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