RBI Governor Raghuram Rajan on Monday urged the Centre to completely de-regulate diesel prices in the wake of falling global crude oil prices. He said, “De-regulation will empower state-owned oil firms to change rates in tandem with crude oil prices like in the case of petrol. In January 2013, the government started a phased de-regulation by allowing up to 50 ...

As Iraq capital is seiged by Sunni rebels, with Shiaite government coming under pressure with Kurdish groups expanding their autonomous region, the impact is vivid on petrol prices. Brent crude oil hit a nine-month high to touch $115 a barrel on Friday, forcing the US to swiftly react to Iraq developments saying military action would be initated against the Islamist ...