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Fuel prices in Mumbai saw a significant jump on Monday, with petrol increasing by Rs 2.72 to Rs 111.21 and diesel by Rs 2.81 to Rs 97.83. This marks an approximate Rs 8 surge in just 11 days. The escalating diesel costs, alongside reported fuel shortages elsewhere, are causing considerable worry for the transport and logistics industry.

ONGC has appointed BP as a technical services provider to boost output from its western offshore oil and gas fields. This partnership aims to increase crude oil production by 10.8% and natural gas production by 31.5% over a 10-year contract period, enhancing India's energy security.

Every Re 1 hike in petrol, diesel, CNG, and LPG costs feeds into inflationary pressures in the economy, and also indirectly impacts discretionary spending, hence hitting growth channels.

India's ambitious piped natural gas expansion is significantly hampered by a severe shortage of certified gas plumbers. Despite government targets, only a fraction of the required household connections are being made daily. This bottleneck leaves millions waiting for installations, even with pipelines at their doorstep, impacting the nation's energy goals.

US stocks edged higher, nearing record highs as easing bond market pressure and strong corporate earnings bolstered investor sentiment. Treasury yields slightly retreated, offering relief from rising borrowing costs. Oil prices also declined, though gasoline prices continued to climb. Investor focus now shifts to Nvidia's upcoming earnings report.

Govt Hosps Not Keep Meds Less Than 3 Months Expiry

Fuel prices have seen a third hike in under 10 days as global crude oil prices surge due to the West Asia conflict and Strait of Hormuz disruptions. State-run oil companies are facing significant losses, prompting these revisions after a period of unchanged prices. India is taking steps to secure energy supplies and urges citizens to conserve fuel.