New Delhi, March 27 (IANS) Union Finance Minister Nirmala Sitharaman on Friday said the Centre’s decision to slash excise duty by Rs 10 on petrol and diesel was aimed at protecting citizens from the impact of rising global crude oil prices, asserting that the government has chosen to absorb the burden rather than pass it on to consumers.Addressing the media, Sitharaman said the move reflects Prime Minister Narendra Modi’s clear policy approach of ensuring price stability and adequate fuel su…
Latest Energy Markets News & Updates
New Delhi, March 25 (IANS) India’s rapid transition toward renewable energy is no longer just an environmental priority—it has become a cornerstone of economic resilience, strategic autonomy, and long-term energy security.As global energy markets face repeated disruptions, India’s aggressive push toward clean energy is positioning the country as one of the fastest-growing renewable powerhouses in the world.The country has already crossed a critical milestone, with 51.93 per cent of its ins…
Washington, March 22 (IANS) US Transportation Secretary Sean Duffy has warned that the ongoing conflict with Iran is pushing up fuel and travel costs, saying it is the rising cost burden that is now affecting American consumers even as supply chains remain stable.In an interview on ABC News’ This Week with George Stephanopoulos, Duffy said airlines are not facing supply shortages but are under pressure from higher fuel prices. “It is the cost, right?” he said.The warning comes as fuel pric…
Tehran, March 14 (IANS) Iran on Saturday accused the United States of double standards over Russian oil, saying that Washington was now “begging” countries to purchase the same crude it had earlier tried to block through pressure and sanctions.In an X post, Iran’s Foreign Minister Abbas Araghchi slammed the US, alleging that it had spent months pressuring India to halt imports of Russian oil but had now shifted its position as tensions with Iran disrupted global energy markets.”The US spent mont…
Washington, March 13 (IANS) Facing a sharp rise in fuel prices and disruptions in global shipping routes, the White House is considering a temporary waiver of the century-old Jones Act to allow more vessels to deliver energy and agricultural supplies to US ports.Press Secretary Karoline Leavitt confirmed that this major move is under consideration but has not yet been finalised.“In the interest of national defense, the White House is considering waiving the Jones Act for a limited period of ti…
Washington, March 12 (IANS) US Energy Secretary Chris Wright said energy markets could face short-term disruption as the conflict involving Iran affects oil flows, but insisted the impact would likely be temporary and that military operations would eventually stabilise global energy supplies.Speaking in separate television interviews — Fox News and News Nation — Wright on Wednesday (local time) said the United States and its partners were releasing strategic petroleum reserves while the US m…
Washington, March 12, (IANS) President Donald Trump has said that US military action against Iran would help bring down global oil prices, telling supporters in Kentucky that a coordinated release of emergency crude reserves and continued pressure on Tehran would stabilise energy markets.Speaking at an event in Hebron, Kentucky, on Wednesday (local time), Trump defended the ongoing US military campaign against Iran and said Washington would continue operations until its objectives were achieved….
Gandhinagar, March 11 (IANS) The Gujarat government has formed a high-level committee to secure liquefied natural gas (LNG) supplies in response to disruptions in global energy markets caused by conflicts in West Asia, Spokesperson Minister Jitu Vaghani announced on Wednesday.The committee, headed by Chief Secretary M.K. Das, will monitor LNG availability and coordinate with central authorities to ensure households continue to receive uninterrupted gas supplies.“The panel, guided by Chief Mini…
Strasbourg, March 11 (IANS) European Commission President Ursula von der Leyen said on Wednesday the Middle East conflict has imposed heavy economic costs on Europe, driving up energy prices and adding billions of euros to import bills. “Since the beginning of the conflict, gas prices have risen by 50 per cent and oil prices by 27 per cent,” von der Leyen told the European Parliament in Strasbourg. She said 10 days of war had already cost European taxpayers an extra 3 billion euros (3.48 billion…
Washington, March 11 (IANS) The White House said that the United States is determined to keep the Strait of Hormuz open as the war with Iran intensifies, stressing that President Donald Trump will not allow Tehran to disrupt global energy supplies.White House Press Secretary Karoline Leavitt said the administration has made protecting the vital shipping lane a central objective of Operation Epic Fury, the US military campaign against Iran.“President Trump reiterated his commitment toward keepi…