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This time is different: $100 oil more painful now than before for India

 New Delhi: Crude oil prices breaching the $100 per barrel threshold is the equivalent of midflight turbulence to global economy. Business as usual has to be suspended and a prolonged phase can cause serious damage. For a country like India, which is heavily dependent on oil imports, crude crossing $100 per barrel today is not the same as when it breached this threshold earlier. To be sure, this is true for all countries to some extent and nominal crude prices, even in dollar terms, follow a different trajectory compared to real dollars. HT showed this in a chart on March 10.. Crude oil prices matter for government finances and refinery margins. For the retail economy what matters are things like the prices of petrol and diesel. (Reuters/Representational Image). However, for a country like India, the dynamics are vastly different because of the exchange rate dynamics at play. Crude oil is almost always paid for in dollars, unless the trade is with a country like Iran or Russia which is facing US economic sanctions. This means the actual prices for the Indian economy, in rupee terms, can be drastically different. A long-term analysis of the data shows this clearly.. Crude in March 2026 and March 2022 is not very different in $ terms, but ₹ price is very different. Also read: How will current oil shock impact Indian factories? | Number Theory. CMIE gives monthly and daily data for the price of crude oil in dollar terms. Brent crude was priced at $117.2 per barrel in March 2022. This is an important milestone because the Russia-Ukraine war started in February 2022. Brent crude’s price was $118.4 per barrel on March 20, 2026. This is a difference of just about 1% from the immediate aftermath of Ukraine war. However, the price in INR in these two periods varies by a much larger amount. This is because of the movement in the INR-USD exchange rate. This number was ₹76.24 per USD in March 2022, leading to a price of ₹8,935.3 per barrel for Brent crude. With the INR-USD exchange rate falling to ₹93.35 per USD on March 20, 2026, the domestic currency price of Brent crude was ₹11,052.64 per barrel; a difference of 23.6%. Such differences can also be seen in historical data. (See Chart 1). Crude price chart. This also means retail transmission of fuel prices looks different when compared with crude prices in $ or ₹ terms. Crude oil prices matter for government finances and refinery margins. For the retail economy what matters are things like the prices of petrol and diesel. How have the two moved in India? The picture looks very different if one compares the retail price of petrol (in Delhi) with crude prices in USD and INR terms. The former shows that retail prices had not come down as much as crude prices until the current war broke out while the latter shows that even though crude prices had been falling, retail prices were still lower in proportional terms as they had not increased. (See Chart 2A, 2B). Also read: Indian Oil buys first Irania 

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Politics

PNG vs LPG: Why piped natural gas is holding up while cylinders struggle amid Strait of Hormuz chokehold

 As Iran’s war with US-Israel disrupts global energy flows due to the impact of drones and missiles on the entire oil-rich Gulf region, many countries, including India, are facing one of a major fuel crisis in decades.. Domestic LPG cylinders at a gas agency, in Rajghat, in Delhi (Sanjeev Verma/Hindustan Times). In India, the government has been pushing people to opt for PNG (piped natural gas) over LPG (liquified petroleum gas) cylinders amid the chokehold on key waterway Strait of Hormuz, through which a fifth of world’s gas and fuel requirements travel, due to the Middle East conflict sparked by US-Israeli strikes on Iran.. The government of India recently issued an order under which it said LPG supply will be snapped for those not opting for PNG if a switch is available.. With the government promoting PNG, it is important to first understand the difference between pipeline gas (PNG) and LPG and where PNG comes from.. What is piped natural gas (PNG)?. Pipeline gas, or piped natural gas (PNG), is primarily natural gas (mostly methane) delivered directly to homes through underground pipelines. PNG is extracted naturally from gas fields and transported into India in liquified form as liquified natural gas (LNG).. LPG, on the other hand is refined (produced) in oil refineries from crude oil. Track latest in US-Iran war here. PNG flows continuously, not needing refilling and is supplied at low pressure via city gas networks.. Where does PNG come from?. Domestically, PNG in India comes from gas fields like the Krishna-Godavari (KG) basin, Assam, and Tripura. The deepwater Krishna-Godavari (KG) basin off the eastern coast is reportedly the biggest contributor. Three fields in the KG basin, namely R Cluster, Satellites Cluster, and MJ, accounted for nearly 25 per cent of India’s total net production of 36 bcm in 2024, and are expected to produce a combined 85 bcm over their lifetime, according to an indiatoday.in report.. The Assam and Tripura basins have contributed nearly 47 per cent of India’s onshore production and 13 per cent of its total gas supply, per the report.. While imported natural gas (LNG) does come from the Middle East, primarily Qatar, other countries like the US and Australia also export LNG to India.. Why is PNG not hit as bad as LPG?. The government of India has been pushing households to shift from LPG cylinders to piped natural gas (PNG) largely because PNG is structurally more resilient in situations like the current Iran war-driven energy crisis. The key difference lies in how the two fuels are supplied.. LPG depends heavily on imports shipped from the Middle East, much of which passes through the strategically sensitive Strait of Hormuz, in which tankers have been targeted with drones and missiles recently. Any disruption there immediately affects tanker movement, leading to delays, shortages, and visible supply breakdowns-like empty cylinders and long waiting times.. An interactive on PNG and LPG amid Middle East conflict (Gem 

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No fuel shortage; petrol, diesel, and LPG prices to stay stable amid centre measures: Haryana CM

 Haryana chief minister Nayab Singh Saini on Saturday assured that the state has no shortage of petroleum products and that petrol, diesel, and liquefied petroleum gas (LPG) prices will remain stable after recent measures taken by the Centre.. There is no shortage of fuel in Haryana, and petrol, diesel, LPG prices will stay steady amid recent Centre measures, says Haryana CM Nayab Singh Saini. (ANI). Addressing a press meet on the petroleum situation, Saini thanked Prime Minister Narendra Modi for reducing excise duty on petroleum products, adding that the Centre’s decision reflects its “nation-first” approach and commitment to public welfare.. He said that Haryana currently has 4,032 operational government petrol pumps, where an average of 4,804 kilolitres of petrol and 12,003 kilolitres of diesel are sold daily. He added that the supply chain remains robust, ensuring uninterrupted availability across the state.. On LPG availability, Saini said that around 2 lakh cylinders are received daily in the state, out of which nearly 1.9 lakh are distributed to consumers. He also confirmed that commercial LPG supply is being maintained without disruption, with a current stock of approximately 1.73 lakh commercial cylinders.. The state government has taken measures to ensure that essential institutions such as hospitals, schools, and other critical establishments do not face any shortage of gas supply. The Chief Minister added that strict action is being taken against black marketing and hoarding to maintain transparency and availability.. Highlighting policy reforms, Saini said the Centre has introduced a 70% allocation framework for commercial LPG, while domestic LPG production has been increased from 40% to reduce dependence on imports.. He also announced a major relief for infrastructure development, stating that the state government has reduced the lease rate for laying PNG pipelines from ₹3 lakh per kilometre per year for 10 years in advance to a one-time charge of ₹1,000 per kilometre. The move is expected to accelerate the expansion of piped natural gas (PNG) networks.. According to the Chief Minister, over 13.33 lakh PNG connections have been planned in Haryana, and the state is steadily strengthening its position in natural gas infrastructure. 

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17-year-old stabbed to death in Delhi amid scuffle at wedding procession

 A 17-year-old minor died while another suffered injury after being stabbed by an individual during a wedding procession in which two groups of boys started quarreling on some issue at around 11:15 pm in Delhi’s Rani Bagh.. The police have apprehended the main accused and his accomplice (Sanchit Khanna/Hindustan Times file photo). A friend of the deceased said that a scuffle erupted among some children, and the boy must have stepped in to intervene. However, an individual present at the spot thought that he was hitting the children and stabbed him. It is not confirmed yet whether the deceased hit anyone. Another victim suffered minor injuries and is currently hospitalised.. ALSO READ | 16-year-old stabbed to death in northeast Delhi, three held. “Our friend had attended a wedding. While he was there, a scuffle broke out among some children. He must have stepped in to intervene. An older individual present there saw the commotion, perhaps thinking he was hitting the children. They did not actually know whether he was hitting anyone or not. However, when he stepped into the middle of the altercation to intervene, that individual stabbed him with a knife. There were two of our friends who were stabbed. One of our friends has passed away, and the other is currently hospitalised,” he said.. The police have apprehended the main accused and his accomplice. The weapon of offence, a knife, has also been recovered.. An investigation is underway.. Earlier in a separate incident, police from PS Alipur in Delhi’s Outer North District on Friday quickly solved a murder case that took place at a de-addiction centre in Hiranki. The officers had received a report of a stabbing at a colony in Hiranki. The victim was identified as Arun Kumar, a 22-year-old from Burari. A case was registered under Section 103(1) BNS at PS Alipur.. A special team led by Inspector Vivek, under the supervision of Inspector Shailender Sharma and ACP/SP Badli, was formed immediately. Within an hour, the team apprehended the accused, Arun Joshi (27), at the scene itself. A blood-stained knife, believed to be the murder weapon, was recovered from his possession. 

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Noida Police issues traffic advisory ahead of Jewar airport inauguration by PM Modi. Check routes, diversions

 Ahead of the inauguration of phase 1 of the Noida International Airport on Saturday, the Noida Traffic Police has issued an advisory noting entry routes, parking zones and diversions for vehicles. The advisory is enforced from 7 am to 11 pm, with arrangements for emergency vehicles.. The advisory will remain in force from 7 am to 11 pm, with arrangements for emergency vehicles such as ambulances and fire services. (ANI/Representational Image). Prime Minister Narendra Modi is set to inaugurate the first phase of the airport in Uttar Pradesh’s Jewar today at 12 noon.. Follow for live updates in Noida International Airport launch. According to the advisory, the movement of heavy goods vehicles, medium goods vehicles, and light goods vehicles will remain restricted on the Noida–Greater Noida Expressway, Yamuna Expressway, and nearby routes. However, emergency vehicles will be allowed through this route.. Traffic diversions. Further, vehicles from Meerut and Ghaziabad will be routed via the Eastern Peripheral Expressway, exiting at Sirsa Toll and proceeding through designated roundabouts before reaching the venue.. Traffic coming from Mathura and Aligarh via the Yamuna Expressway will exit at Jewar Cut and enter through Sabauta Underpass and Kishorpur Gate. Vehicles from Hapur, Bulandshahr and nearby areas will be diverted along the Jewar-Khurja road and enter through Parohi Gate.. Also read: Jewar airport inauguration: A sneak peek into Noida International Airport ahead of opening. Separate entries for attendees of event. VIP and media entry: Dignitaries and VIP’s attending the event have been advised to access the venue through the dedicated Yamuna Expressway interchange. Separate parking zones have been allocated to them. Media personnel will enter via Kishorpur Gate.. Administrative staff vehicles: Police, administrative staff and government employees on duty will also use the Kishorpur Gate, while official buses will be routed via Dayanantpur.. Visitors: People commuting from Noida and Greater Noida using the Noida-Greater Noida Expressway will be diverted through specified roundabouts and service roads before entering via a temporary gate near Ranehra Police Post.. Also read: Are schools open in Ghaziabad today? Check order ahead of Noida airport launch. Two-wheelers and light vehicles will enter via Kishorpur Gate, while vehicles coming from Jewar town will also use the same gate.. The advisory urged commuters to follow designated routes and avoid unnecessary travel near the venue to ensure the smooth conduct of the high-profile event. 

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Noida International Airport launch LIVE: PM Modi to inaugurate phase-1 of airport in Jewar today

 Live. By. Noida International Airport opening live: The airport will serve as a primary international airport for major Uttar Pradesh cities such as Noida, Meerut, Ghaziabad, Mathura and Agra and It will also act as a gateway to several pilgrimage and tourist destinations.. 2 Mins agoTraffic curbs till 11pm, vehicles to be diverted. 10 Mins agoHow the airport will boost tourism, help UP cities. 20 Mins agoMultiple delays and an inauguration. 25 Mins agoPM Modi to inaugurate Phase 1 today. Noida International Airport opening live: View of the newly constructed Noida International Airport, ahead of its inauguration by Prime Minister Narendra Modi.. Noida International Airport opening live: A traffic advisory has been issued y ahead of the Noida International Airport inauguration by Prime Minister Narendra Modi today. The advisory will remain in force from 7 am to 11 pm on Saturday, with arrangements made to ensure uninterrupted passage of emergency vehicles such as ambulances and fire services.. Modi is scheduled to inaugurate the first phase of the Noida International Airport in Jewar, Uttar Pradesh today. The airport is finally being opened after multiple delays and is set to become the second international airport serving the Delhi-NCR region, after the Indira Gandhi International Airport (IGIA).. The two airports will function as an integrated aviation system that will ease congestion, expand passenger capacity, and position Delhi-NCR among leading global aviation hubs, the government said in a statement earlier.. The airport will serve as a primary international airport for major Uttar Pradesh cities such as Noida, Meerut, Ghaziabad, Mathura and Agra and It will also act as a gateway to several pilgrimage and tourist destinations.. Inauguration after multiple delays. The airport was first set for a launch on December 1, 2024 which was postponed to April 2025. It was again postponed to September 1,2025 and then finally to early 2026.. PM’s schedule for airport inauguration. PM Modi will inaugurate the phase 1 of the Noida International Airport at 12 noon and will then address a public gathering on the occasion. The government has termed the airport as ‘major international gateway for the National Capital Region (NCR)’ that represents a significant step in strengthening the country’s airport infrastructure and enhancing regional and international connectivity.. …Read More. Modi is scheduled to inaugurate the first phase of the Noida International Airport in Jewar, Uttar Pradesh today. The airport is finally being opened after multiple delays and is set to become the second international airport serving the Delhi-NCR region, after the Indira Gandhi International Airport (IGIA).. The two airports will function as an integrated aviation system that will ease congestion, expand passenger capacity, and position Delhi-NCR among leading global aviation hubs, the government said in a statement earlier.. The airport will serve as a primary intern 

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