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Domestic LPG up ₹60, commercial cylinders now ₹115

Cooking gas prices in India have increased after oil marketing companies raised the rates of domestic and commercial LPG cylinders. The price of a 14.2-kg domestic LPG cylinder has been increased by ₹60, while the cost of a 19-kg commercial cylinder has gone up by ₹115. The revised prices came into effect on March 7.

With the latest hike, the price of a domestic LPG cylinder in Delhi has risen to around ₹913 from ₹853 earlier. Similar increases have been reported in other major cities. In Mumbai, the price has gone up to about ₹912.50, while in Kolkata it has increased to around ₹939. In Chennai, a domestic LPG cylinder now costs roughly ₹928.50.

Commercial LPG cylinders, widely used by hotels, restaurants and small businesses, have also become costlier by ₹115. The increase is expected to push up operating costs for the hospitality sector and other businesses that depend heavily on LPG.

The price revision comes amid rising global energy costs linked to tensions in West Asia. Ongoing geopolitical developments in the region have disrupted energy supply chains and pushed up international fuel prices. As India imports a significant portion of its energy needs, global price movements often influence domestic fuel prices.

This is the first major LPG price revision in several months. Cooking gas prices were last revised in April last year, when domestic LPG cylinders were increased by ₹50. Since then, prices had remained largely stable.

India has more than 33 crore LPG consumers, making cooking gas one of the most widely used household fuels in the country. As a result, any change in LPG prices directly affects household budgets as well as the cost structure of several businesses.

While the latest hike may add to the financial burden on consumers, officials say supply of LPG across the country remains stable and there are no immediate concerns about shortages. The government and oil companies are closely monitoring the global situation to ensure adequate availability of cooking gas in the domestic market.

Also Read: US grants India 30-day Russian crude oil import

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US grants India 30-day Russian crude oil import

The United States has granted India a 30-day waiver to continue importing Russian crude oil that is currently stranded at sea, providing crucial short-term relief for Indian refiners. The waiver, effective until early April 2026, allows India to legally receive shipments already loaded onto vessels, helping to maintain uninterrupted fuel supplies amid rising global uncertainty.

The move comes against the backdrop of tensions in the Middle East, particularly around the Strait of Hormuz, a key route for international oil shipments. Disruptions in this region have created anxiety in global energy markets, with the potential to affect oil availability and pricing worldwide. By temporarily permitting these imports, the waiver gives Indian refiners time to adjust supply chains and manage domestic fuel demand.

US officials emphasized that the waiver is strictly short-term and limited to oil already in transit. It does not signal a broader relaxation of sanctions on Russian energy exports. At the same time, the waiver shows India’s role as a significant partner in global energy trade and highlights the delicate balance between meeting immediate domestic needs and navigating international regulations.

The decision also reflects India’s careful approach to energy security, ensuring that nearly 40% of its crude imports, which typically pass through the Hormuz route, are not disrupted. By securing a short-term supply while exploring alternative options, India is able to maintain stability in its domestic energy markets even amid geopolitical volatility.

Indian refiners have reportedly already begun arranging delivery of millions of barrels of Russian crude that had been awaiting clearance, ensuring that domestic fuel production remains unaffected. Analysts say the waiver provides logistical relief but does not change India’s longer-term energy strategy, which continues to focus on diversification of oil sources, including increasing imports from the United States.

Also Read: US to raise global tariff to 15%, says Scott Bessent

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China raises defence budget to $275 bn

China has announced a 7% increase in its defence budget for 2026, raising military spending to around $275 billion. The announcement was made during the annual meeting of the National People’s Congress in Beijing.

Chinese leaders said the increase is part of the country’s long-term plan to modernise its armed forces and strengthen national security. The funds will be used to improve military training, upgrade weapons and equipment, and support the development of advanced defence technologies.

China already has the world’s second-largest military budget after the United States. The country has steadily increased its defence spending for many years as it works to build a more modern and capable military.

Officials said the higher spending will help accelerate the modernisation of the People’s Liberation Army. The government has set a target of transforming the military into a world-class force by the middle of the century.

The rise in defence spending comes at a time of growing geopolitical tensions in the region. China has been strengthening its military capabilities amid ongoing disputes in the South China Sea and increasing tensions related to Taiwan.

Apart from defence spending, the Chinese government also outlined its economic priorities for the year. Leaders set a GDP growth target of around 5% for 2026 as the country tries to stabilise its economy.

China’s economy has been facing several challenges in recent years, including weak domestic demand, a struggling property sector and uncertainties in the global economy. Despite these issues, the government says it will continue to support growth through investment, innovation and technology development.

Also Read: Adani partners UNESCO for Engineering Day 2026

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Rupee gains 55 paise to close at 91.6 per dollar

Rupee strengthened against the US dollar on Thursday, recovering from recent record lows after likely intervention by the Reserve Bank of India (RBI). The domestic currency appreciated by 55 paise to close at 91.6 per dollar, supported by dollar sales in the foreign exchange market.

During the trading session, the rupee touched an intraday high of around 91.41, as improved market sentiment and central bank action helped stabilize the currency. The rupee had earlier come under pressure after falling to a record low earlier this week amid global uncertainty and rising crude oil prices.

Currency traders said state-run banks were seen selling dollars in the market, a move widely believed to be on behalf of the RBI. Such intervention typically aims to reduce volatility and prevent excessive weakening of the domestic currency.

The rupee had weakened significantly in recent days due to global risk-off sentiment and escalating geopolitical tensions in the Middle East. These developments pushed investors toward safe-haven assets and strengthened the US dollar, putting pressure on emerging market currencies including the rupee.

Another key factor weighing on the currency has been the rise in crude oil prices. India is one of the world’s largest oil importers, and higher crude prices increase the country’s demand for dollars to pay for energy imports, which can weaken the rupee.

Forex analysts said the sustainability of the rupee’s recovery will largely depend on how global oil prices move in the coming days. If crude prices remain high, the currency could face renewed depreciation pressure despite RBI intervention.

The central bank’s support, however, helped restore some stability to the currency market and limited sharp fluctuations during the session. Improved sentiment in domestic financial markets also contributed to the rupee’s rebound.

Also Read: Gold falls ₹10 to ₹1,62,870, Silver slips to ₹2,84,900

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Gold falls ₹10 to ₹1,62,870, Silver slips to ₹2,84,900

Gold prices in the domestic market slipped slightly on Friday, while silver also recorded a small decline amid cautious trading in global commodity markets.

According to market data, the price of 24-carat gold declined by ₹10 to ₹1,62,870 per 10 grams. Meanwhile, silver prices fell by ₹100 to ₹2,84,900 per kilogram in the local market.

Similarly, 22-carat gold prices also dropped by ₹10, with the metal trading at around ₹1,47,590 per 10 grams in several major cities. Gold prices vary across cities due to factors such as local taxes, transportation costs and regional demand.

Market participants said the marginal fall comes as investors remain cautious and track developments in global markets. Precious metals have been witnessing fluctuations in recent sessions as traders respond to changes in the US dollar, economic data and geopolitical developments.

Globally, gold and silver have remained volatile due to ongoing tensions in the Middle East. The uncertainty surrounding the conflict involving the United States, Israel and Iran has increased interest in safe-haven assets like gold. During periods of geopolitical stress and financial market uncertainty, investors often shift funds toward precious metals to protect their portfolios.

Analysts said movements in the US dollar index, global bond yields and economic indicators are likely to influence bullion prices in the coming sessions. Market participants are also closely watching key US economic data releases, which could affect expectations around interest rates and investment flows into commodities.

On the Multi Commodity Exchange (MCX), both gold and silver futures have witnessed notable price swings during the week, reflecting the uncertain global environment.

Also Read: Sensex drops over 450 points, Nifty slips below 24,650

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Qatar LNG halt raises gas supply concerns

India may face short-term concerns over natural gas supplies after Qatar temporarily halted production at one of its major liquefied natural gas (LNG) facilities. Experts say the move, linked to regional tensions in West Asia, has raised worries about possible disruptions in global energy markets.

Qatar is one of the world’s largest LNG exporters and a key supplier of natural gas to India. A large share of India’s LNG imports comes from the Gulf nation under long-term contracts, making any disruption closely watched by Indian energy companies.

Following the production halt, shares of several LNG-related firms declined between 5 and 10 percent amid fears that supply could tighten and prices could rise in the international market. Analysts said the situation could increase volatility in energy markets if the disruption continues for an extended period.

However, experts also noted that India’s long-term LNG agreements with Qatar may help cushion the immediate impact. They said the country may not face a severe shortage right away, but the situation highlights the risks associated with global geopolitical tensions and energy dependence.

Officials and market watchers are closely monitoring developments in the region. If the production halt is prolonged or escalates into a larger supply disruption, it could push up global gas prices and affect importing countries like India.

Also Read: Air India expands flights to Toronto, Frankfurt, Paris

 

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India VIX surges 50% In two days

India’s market volatility indicator, India VIX, has jumped more than 50% in the last two trading sessions, signalling growing nervousness among investors.

The volatility index rose to around 21, its highest level in nearly ten months. The sharp rise comes as global markets react to increasing tensions in the Middle East, particularly the conflict involving the United States and Iran.

Often referred to as the market’s “fear gauge”, India VIX reflects how much volatility traders expect in the Nifty 50 over the next 30 days. When the index rises sharply, it usually means investors expect bigger swings in stock prices and are becoming more cautious.

The latest spike came as geopolitical tensions pushed global oil prices higher and created uncertainty in financial markets. Concerns about a possible disruption in crude oil supply have made investors more careful about placing bets in equities.

As a result, Indian stock markets have seen increased fluctuations in recent days. Market participants say investors are closely watching global developments before making major investment decisions.

Experts note that sudden rises in the volatility index often happen during periods of uncertainty, especially when geopolitical tensions or economic risks increase. Similar spikes were seen during the COVID-19 pandemic and other major global events.

The current surge in India VIX suggests that investors expect markets to remain volatile in the near term. Many traders are reducing risk and shifting some investments to safer assets such as gold.

Analysts say the future direction of the market will largely depend on how the geopolitical situation unfolds. If tensions ease and global markets stabilise, volatility may decline.

However, if the conflict intensifies or oil prices continue to rise sharply, stock markets could experience further ups and downs.

Also Read: Morgan Stanley to cut 2,500 jobs globally

 

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Rupee rebounds, trades between ₹91.08–₹91.57

Indian rupee recovered in early trade on Thursday after hitting a record low in the previous session. Rupee traded in a range of ₹91.08 (high) and ₹91.57 (low) against the US dollar in the interbank foreign exchange market. During the session, the rupee strengthened by around 50–55 paise to about ₹91.54–₹91.57 per dollar, reversing part of the sharp losses seen a day earlier.

The rebound follows a steep fall in the previous trading session when the rupee slipped to an all-time low of above ₹92 per US dollar. The decline was mainly driven by rising global crude oil prices and geopolitical tensions in the Middle East involving the United States, Israel and Iran.

Market participants said the RBI likely intervened in the currency market by selling US dollars through state-run banks to curb the sharp depreciation. Such intervention helped stabilise the rupee and restore some confidence among traders.

A modest recovery in domestic equity markets and improved sentiment across Asian currencies also provided support to the rupee during the session. However, analysts said the recovery remains fragile due to ongoing global uncertainties.

One of the major concerns for the rupee is the surge in crude oil prices. India imports a large portion of its oil requirements, and higher crude prices increase the country’s import bill and demand for dollars, putting pressure on the local currency.

In addition, foreign fund outflows and global risk aversion have contributed to volatility in the forex market. During periods of geopolitical tension, investors typically shift funds into the US dollar, which is considered a safe-haven asset.

Also Read: Gold hits ₹1.63 lakh, silver touches ₹2.74 lakh

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Gold hits ₹1.63 lakh, silver touches ₹2.74 lakh

Gold and silver prices surged in early trade on Thursday as rising geopolitical tensions in the Middle East boosted demand for safe-haven assets. Investors turned to precious metals amid uncertainty surrounding the conflict involving the United States, Israel and Iran, which has heightened volatility in global financial markets.

On the Multi Commodity Exchange (MCX), gold futures for April delivery traded between a low of ₹1,61,525 and a high of ₹1,63,142 per 10 grams during the session. The metal opened higher at around ₹1,62,750 per 10 grams, extending gains from the previous trading day.

Silver prices also saw strong buying interest. MCX silver futures for May delivery moved between ₹2,65,466 and ₹2,74,251 per kilogram in early trade, reflecting a sharp rally as investors increased their exposure to bullion.

Analysts said the rise in gold and silver prices was largely driven by safe-haven demand amid escalating geopolitical tensions and uncertainty in global markets. A softer US dollar and volatility in equity markets also supported the upward momentum in precious metals.

In the physical market, gold prices across major Indian cities remained elevated. 24-carat gold traded around ₹1.66-₹1.67 lakh per 10 grams, while 22-carat gold hovered above ₹1.53 lakh per 10 grams, depending on city-wise taxes and jewellers’ margins.

Also Read: Sensex up 500+ points, Nifty above 24,650

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Oil tops $83, European gas jumps over 40%

Global energy prices have risen sharply after fresh tensions in the Middle East disrupted oil and gas supplies. Fighting involving Iran and its rivals has raised concerns about shipments from the Gulf region, which is one of the world’s most important energy hubs.

Oil prices climbed strongly, with Brent crude moving above $83 per barrel. Traders fear that if the conflict spreads or key shipping routes are blocked, supplies could fall further. A major concern is the Strait of Hormuz, a narrow sea route through which a large share of the world’s oil and liquefied natural gas (LNG) passes every day.

Natural gas prices have risen even more sharply, especially in Europe. Reports said gas prices surged by 30% to over 40% after Qatar temporarily halted LNG production at some facilities due to security concerns. Qatar is one of the world’s biggest LNG exporters, and any disruption there quickly affects global markets.

Europe depends heavily on LNG imports, particularly after cutting pipeline gas supplies from Russia in recent years. With storage levels not very high, even small supply shocks can cause big price swings.

The rise in energy prices is also affecting other sectors. Higher fuel costs increase shipping and transport expenses, which can push up prices of food, fertilisers and other goods. Economists warn that continued energy volatility could add to inflation pressures in many countries.

Governments and energy companies are closely watching the situation. Some countries may use strategic reserves or look for alternative suppliers if the disruption continues.

Also Read: CCPA fines baby food brand ₹8 lakh