Beauty is what you buy

Oil Minister Hardeep Singh Puri announced a Rs 50 hike in LPG cylinder prices, impacting both Ujjwala beneficiaries and regular consumers. Despite the increase, subsidized rates will continue for Ujjwala users, while regular consumers will also see a reduced price.

The government increased excise duty on petrol and diesel by Rs 2 per litre, capitalizing on lower international oil prices to bolster revenue. While pump prices remain unchanged, LPG prices will rise by Rs 50 per cylinder. This duty hike aims to generate Rs 32,000 crore annually, offsetting oil companies’ LPG losses, though the timing of reimbursement remains uncertain.

The government has increased excise duty on petrol and diesel by Rs 2 per litre to boost revenues despite falling global crude prices. This move aims to offset the financial impact of recent tax cuts and windfall tax reliefs. India’s oil minister suggests potential future fuel price reductions if low crude prices persist.

The price of liquefied petroleum gas (LPG) will rise by Rs 50 per cylinder starting April 8, according to Union Oil Minister Hardeep Singh Puri. The government will review LPG prices bi-weekly. Additionally, excise duty on petrol and diesel is being increased by Rs 2 per litre, but retail prices are expected to remain unchanged.

The government has increased excise duty on petrol and diesel by Rs 2 per litre amid fluctuating global oil prices. The rise in excise duty will not impact Indian consumers due to recent cuts in fuel prices. Major oil marketing companies’ shares fell, and global crude benchmarks hit their lowest levels since April 2021.

Tata Power has received approval from the Maharashtra Electricity Regulatory Commission to install a 100-MW battery energy storage system in Mumbai. Over the next two years, the project will enhance power supply reliability to critical infrastructure and improve efficiency. The system will be strategically located and centrally monitored, with future integration into the Distributed Energy Resource Management System.

Oil prices have a low probability of falling below $60 per barrel, according to ONGC’s finance chief. Despite recent drops, ONGC is focusing on cost control to mitigate impacts, while high domestic gas prices may cushion the company’s profits if oil prices remain under $70 per barrel.

Naveen Jindal’s Jindal Power and Sev.en Global Investments are vying to acquire the 1,320-MW Jhajjar thermal power project from Apraava Energy as coal power demand increases. The asset is valued at approximately Rs 4,000 crore, and both companies are undergoing due diligence.