The ET GenAI Hackathon 2026 has announced the results of its Idea Submission phase, with the shortlist finalised after evaluating entries from more than 54,000 builders across India. Shortlisted teams now advance to the Prototype Development Phase
The fast-expanding war between the United States, Israel, and Iran has captured global attention largely because it is disrupting oil and gas supplies from the Persian Gulf. Yet another resource is now emerging as far more critical to the survival of the region’s societies. Water
Indian technology stocks have seen an unprecedented rout over the past few weeks over fears of artificial intelligence upending the traditional outsourcing model that powers the country's $300bn (£223bn) back-office industry. The sell-off - part of a global correction in traditional software and
The ruling Bharatiya Janata Party-led National Democratic Alliance (NDA) on Monday managed an easy victory in the biennial polls to five Rajya Sabha seats in Bihar, with its candidates including Chief Minister Nitish Kumar and BJP national president Nitin Nabin
Star Brazilian forward Neymar didn’t receive a call-up to the national team squad for the upcoming friendlies against France and Croatia, although striker Endrick found a spot. With this snub, Neymar’s hopes of playing at the upcoming FIFA World Cup have received a massive blow
If one wants to explore the many debates and controversies surrounding the Congress and its role in shaping India’s political trajectory, there may soon be a new address in the capital to turn to. At 3, Safdarjung Lane, the official residence of Nishikant Dubey — the Bharatiya Janata Party MP
Chelsea have been handed a Premier League record fine of £10.75m and a suspended transfer ban. It was a result of the club making secret payments to unregistered agents and third-parties over transfers between 2011 and 2018. But it could have been a lot worse
Iran’s National Security Chief Ali Larijani on Monday penned a note to Muslim countries, questioning their lack of support for Tehran as the US-Israeli war is now entering its third week with no clear end in sight, disrupting global energy supplies and raising fears of a spike in global inflation
Brent crude oil price soars 45-month high at nearly $120 per barrel amid Iran war
Brent crude oil price soars 45-month high at nearly $120 per barrel amid Iran war
Brent crude oil price soars 45-month high at nearly $120 per barrel amid Iran war
Experts say that if war does not escalate further and disrupt the energy infrastructure, international oil prices should not go beyond the $120-130 levels
Published on: Mar 09, 2026 11:55 AM IST By Rajeev Jayaswal Share via Copy link International benchmark Brent crude oil price soared 45-month high of nearly $120 per barrel on Monday morning, 64% jump from $72.87 a barrel before the US-Israel war with Iran 10 days ago, squeezing Indian refiners’ margins on petrol and diesel. Demonstrators hold signs against the war on Iran in Boston. (AFP) Experts said Indian refiners, particularly state-run firms like Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation, should hold the pump prices for petrol and diesel as they had reaped huge benefits of lower international oil prices without proportionately reducing retail prices of auto fuels. Combined net profit of the three firms rose 192% to ₹57,810 crore in the first nine months of FY26 from ₹19,768 crore a year earlier. Experts say that if war does not escalate further and disrupt the energy infrastructure of West Asia, international oil prices should not go beyond the $120-130 levels. International crude prices softened a bit during the intraday trade on Monday. After Friday’s close of $92.69 a barrel, Brent opened at $99.75 on Monday and went up to $119.5 a barrel to again slip to $116.64 (at 10:37am IST), 25.84% surge from Friday. Brent last saw over $120-levels on June 8, 2022 ($123.58 a barrel) after Russia attacked Ukraine. The West Texas Intermediate (WTI) crude surged to $119.48 a barrel earlier on Monday. In June 2022, India’s petrol and diesel prices were ₹96.72 per litre and ₹89.62 per litre. From mid-March 2024, petrol and diesel rates were reduced by ₹2 a litre, bringing down their retail prices to ₹94.72 a litre and ₹87.62. Auto fuel rates have been more or less static since then. Petrol is currently priced at ₹94.77 a litre in Delhi and diesel at ₹87.67 because of a marginal five-paise increase on October 30, 2024, on account of marketing cost adjustments. Experts said the government may continue to shield Indian consumers from volatile international oil prices, as it has huge excise duty cushions on both petrol and diesel. Besides, the government had mopped up some of the gains from lower international oil prices last year. On April 8, 2025, the government raised the special additional excise duty (SAED) on petrol and diesel by ₹2 per litre each to garner about ₹34,000 crore annually. Currently, SAED on petrol is ₹13 per litre and on diesel it is ₹10 per litre. The government often tweaks SAED to protect consumers from the vagaries of the international oil market. Its move to raise SAED on April 8, 2025, was followed by two earlier rounds of excise duty cuts in November 2021 and May 2022 that reduced pump prices by ₹13 per litre for petrol and ₹16 per litre for diesel. Excise Duty Check India news real-time updates, latest news from India, latest India vs England LIVE Score, at HindustanTime News / India News / Brent Crude Oil Price Soars 45-month High At Nearly $120 Per Barrel Amid Iran War See LessInternational benchmark Brent crude oil price soared 45-month high of nearly $120 per barrel on Monday morning, 64% jump from $72.87 a barrel before the US-Israel war with Iran 10 days ago, squeezing Indian refiners’ margins on petrol and diesel.
Experts said Indian refiners, particularly state-run firms like Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation, should hold the pump prices for petrol and diesel as they had reaped huge benefits of lower international oil prices without proportionately reducing retail prices of auto fuels. Combined net profit of the three firms rose 192% to ₹57,810 crore in the first nine months of FY26 from ₹19,768 crore a year earlier.
Experts say that if war does not escalate further and disrupt the energy infrastructure of West Asia, international oil prices should not go beyond the $120-130 levels. International crude prices softened a bit during the intraday trade on Monday. After Friday’s close of $92.69 a barrel, Brent opened at $99.75 on Monday and went up to $119.5 a barrel to again slip to $116.64 (at 10:37am IST), 25.84% surge from Friday.
Brent last saw over $120-levels on June 8, 2022 ($123.58 a barrel) after Russia attacked Ukraine. The West Texas Intermediate (WTI) crude surged to $119.48 a barrel earlier on Monday. In June 2022, India’s petrol and diesel prices were ₹96.72 per litre and ₹89.62 per litre. From mid-March 2024, petrol and diesel rates were reduced by ₹2 a litre, bringing down their retail prices to ₹94.72 a litre and ₹87.62.
Auto fuel rates have been more or less static since then. Petrol is currently priced at ₹94.77 a litre in Delhi and diesel at ₹87.67 because of a marginal five-paise increase on October 30, 2024, on account of marketing cost adjustments.
Experts said the government may continue to shield Indian consumers from volatile international oil prices, as it has huge excise duty cushions on both petrol and diesel. Besides, the government had mopped up some of the gains from lower international oil prices last year. On April 8, 2025, the government raised the special additional excise duty (SAED) on petrol and diesel by ₹2 per litre each to garner about ₹34,000 crore annually. Currently, SAED on petrol is ₹13 per litre and on diesel it is ₹10 per litre.
The government often tweaks SAED to protect consumers from the vagaries of the international oil market. Its move to raise SAED on April 8, 2025, was followed by two earlier rounds of excise duty cuts in November 2021 and May 2022 that reduced pump prices by ₹13 per litre for petrol and ₹16 per litre for diesel.
Source: HindustanTimes
Related Posts: Brent crude spikes toward $120/barrel as Iran war forces more production cuts HSBC keeps Brent crude forecast at USD 65/barrel despite Iran strikes Crude Oil Prices May Surge To USD 80 Per Barrel Amid Fresh US-Russia Tensions US crude futures now up 12% per barrel amid Iran war US Judge Summons ICE Chief Over Due Process Failures For Detainees Amid Minneapolis Killings Madhya Pradesh ‘Neta’ Caught On Cam Saying ‘Nothing Will Happen To Me’ Amid ‘Rape At Knifepoint’ Charge Georgia Tech announces a new 5-year contract for coach Brent Key following 9-3 regular season Mastodon Guitarist Brent Hinds Passes Away At 51 In Motorcycle Accident Russia crude exports hit 16-month high despite output cuts due to attacks Oil minister allays fears over Russian crude oil supply
Nagaon MP Pradyut Bordoloi expressed strong displeasure over Dr. Asif Nazar being considered for the Lahorighat Assembly ticket, citing Nazar's alleged association with an individual charged in an attack on Bordoloi. Bordoloi wrote to AICC General Secretary Jitendra Singh
5 hours ago
A sessions court in Gujarat’s Gir Somnath district on Monday convicted five persons and acquitted 35 others in connection with a 2016 case in which seven Dalits were assaulted in the town of Una, The Indian Express reported. Additional Sessions Judge Jignesh Pandya of the court in Veraval
5 hours ago
It's Hollywood's biggest night. The 98th Academy Awards featured emotional speeches, comical relief and a bevy of backstage fun. But it was perhaps a night to forget for Timothée Chalamet. As well as losing out to Michael B Jordan for best actor and One Battle After Another for best picture
5 hours ago
US President Donald Trump on Monday said more than 30 mine laying ships of Iran have been destroyed which has affected Tehran’s capacity to threaten commercial shipping in the Strait of Hormuz. “We are hammering their capacity to threaten commercial shipping in the Strait of Hormuz with more
5 hours ago
Love Horoscope Today for March 17, 2026: A spontaneous moment could lead to a meaningful connectionLove Horoscope Today, March 17, 2026: Find daily astrological predictions for all sun signs. Published on: Mar 17, 2026 7:28 AM IST By Neeraj Dhankher Share via Copy link Aries: Mars is pushing you to
5 hours ago
Dubai arrests Iranian drone strike survivors after they sent explosion photos to loved ones3 foreigner nationals who survived drone strike in Dubai have been arrested after sending photos of the explosions to family members. Updated on: Mar 16
5 hours ago
‘Firms need to move to adaptive, energy-efficient AI models’Sarah Hooker is convinced that the future lies in AI systems that use less computing power, cost less to run and can adapt to the needs of users. Published on: Mar 17, 2026 6:58 AM IST By Shweta Taneja Share via Copy link In the last
5 hours ago
Baghdad witnessed a significant drone and rocket attack on the U.S. embassy early Tuesday. This incident marks the most intense assault since the commencement of the U.S.-Israel war with Iran. Iraqi security forces have heightened their presence across the capital. The Green Zone
5 hours ago
Russell Wilson trade update: Chiefs hand a shock to Giants QB with Justin Fields move Published on: Mar 17, 2026 5:03 AM IST By Khushi Arora Share via Copy link New York Giants quarterback Russell Wilson (3) waves to fans after the game against the Dallas Cowboys (IMAGN IMAGES via Reuters Connect)
5 hours ago
![London [UK], March 17 (ANI): The Premier League has completed a disciplinary process with Chelsea FC in respect of historical breaches relating to Financial](http://newsorbit360.com/files/news/en/imgs/chelsea-fined-and-faces-supended-transfer-ban-by-premier-league.webp?height=520)
London [UK], March 17 (ANI): The Premier League has completed a disciplinary process with Chelsea FC in respect of historical breaches relating to Financial Reporting and Third Party Investment.In 2022, Chelsea FC’s current owners voluntarily reported to the League that they had evidence of
5 hours ago
A Bengaluru-based cafe has drawn attention on social media after adding a 5 per cent “Gas Crisis Charge" to a customer’s lemonade order, sparking debate on social media platform X. The unusual fee, applied on a bill for two mint lemonades, has left many users amused and some questioning its
5 hours ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Still using an older laptop? These Intel 13th Gen laptops show what modern performance feels likeIntel 13th Gen laptops bring improved performance
5 hours ago
US President Donald Trump said on Monday that he is planning to delay a high stakes visit to China later in March by about a month because of the Iran war. "We've requested that we delay it a month or so," he told reporters at the White House
5 hours ago
LDF ally ISJD, UDF ally RSP name candidates for four seats eachThe ISJD and RSP announced their candidates for Kerala Assembly polls, with ISJD's K Krishnankutty retiring from politics and RSP seeking assembly representation. Published on: Mar 17, 2026 7:30 AM IST By Vishnu Varma
5 hours ago
Horoscope Today, March 17, 2026: Operational strategies at work need refinementHoroscope Today: Read the astrological predictions for each zodiac sign based on an expert's guidance on March 17, 2026. Published on: Mar 17, 2026 7:19 AM IST By Dr Prem Kumar Sharma
5 hours ago
Viswanathan Anand has defended Cyprus as the host of the upcoming FIDE Candidates Tournament, saying the island nation offers a high-quality setting for one of chess’ most important events despite concerns over regional tensions. Cyprus has been in focus due to its proximity to the evolving Gulf
5 hours ago
A parliamentary panel has flagged the Ministry of Social Justice and Empowerment for surrendering nearly a quarter of funds sanctioned for Scheduled Caste welfare schemes. The committee found the ministry's inability to utilize allocated funds and its consistent budget scaling down at revised
5 hours ago
Fino Payments Bank clarifies the ongoing probe relates only to certain programme managers and merchants associated with multiple banks. Also Read :10 people dead after fire breaks out at Odisha’s Cuttack SCB Medical College; CM announces Rs 25 lakh ex-gratia assistanceFino Payments Bank clarifies
5 hours ago
When the daytime air feels like an oven and night brings no relief, people in Karachi, Pakistan, say the heat “goes straight to the head”. They mean more than dizziness or sweat. It’s the creeping panic of a body that cannot cool down: restless nights, frayed tempers, a household on edge
5 hours ago
Dozens of people are feared dead or injured at a drug treatment centre in Kabul, Afghanistan after an air strike that the Taliban government blamed on Pakistan. The hospital was hit on Monday evening, killing some people and injuring others, the government's spokesman said on X
5 hours ago
The report from Elara Capital said retail gasoline and diesel prices “could be fully protected through excise cuts until roughly $110/bbl, beyond which price hikes on diesel and gasoline would become inevitable”. Also Read :Fino Payments Bank Shares Fall To 52-Week Low Amid Probe Reports;
5 hours ago
Shocked Karan Johar reveals his 9-year-old son Yash's ‘business proposal’ as he wants to pay rent to him. WatchKaran Johar and his son Yash had a fun conversation as they discussed a business proposal. Watch their banter here. Mar 17, 2026, 06:00:58 IST By Ananya Das Share via Copy link
5 hours ago
Punjab Assembly session: House passes motion against LoP Bajwa over ‘band player’ remarkThe Punjab assembly condemned opposition leader Partap Singh Bajwa for alleged derogatory remarks about a minister, leading to chaos and a walkout by Congress. Published on: Mar 17
5 hours ago
More than a thousand citizens in Ladakh's Leh and Kargil regions rallied on Monday, echoing calls for statehood and adherence to the Sixth Schedule. Leaders from the Apex Body Leh alongside the Kargil Democratic Alliance expressed their discontent regarding the central government's stance
5 hours ago
Menstrual pain is often dismissed as an inevitable part of being a woman. But when cramps become debilitating, interfere with daily life or are accompanied by chronic pelvic discomfort, they may signal something more serious. One such condition is endometriosis – a long-term disorder affecting
5 hours ago
Khushbu Sundar comes out in support of Trisha amid her viral pics with Vijay: ‘She is one of the most dignified women’Khushbu Sundar has addressed the online chatter surrounding the public appearance of Vijay and Trisha Krishnan, after the divorce petition filed by Sangeeta. Mar 17, 2026
5 hours ago
Rex Culpepper's fiancee pays sweet tribute after tragic bike accident death: ‘I don’t regret' Published on: Mar 17, 2026 4:55 AM IST By Yash Nitish Bajaj Share via Copy link Former Syracuse quarterback Rex Culpepper died after an accident on Saturday (Instagram/Rex Culpepper) Rex Culpepper
5 hours ago
