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Fuel prices cannot be reduced immediately on fall in global crude rates: Union Minister Suresh Gopi

Thrissur (Kerala), Jun 18 (PTI) Union Minister Suresh Gopi on Thursday said that the fuel prices cannot be reduced immediately when the rate of global crude comes down as it involves many factors, including the time taken for the cheaper oil to reach India. Gopi, the Union Minister of State for Petroleum, Natural Gas and Tourism, said of the recent hike in fuel prices, only an increase of around Rs 3.94 per litre has made an impact, but it cannot be immediately rolled back just because the cost of crude has gone down globally. “It will take time as the

Stock markets recover early lost ground; trade higher

Mumbai, Jun 18 (PTI) Benchmark indices Sensex and Nifty drifted lower in early deals on Thursday, but later bounced back to trade higher supported by encouraging developments on the geopolitical front and easing crude oil prices. The 30-share BSE Sensex declined 111.23 points to 77,044.39 in early trade. The 50-share NSE Nifty dipped 26.85 points to 24,058.85. However, later both the benchmark indices recovered their early lost ground and were quoting in the green. The BSE benchmark traded 108.95 points up at 77,264.57, and the Nifty quoted 44.25 points higher at 24,132.60. From the 30-Sensex firms, Infosys, Tech Mahindra, HCL

Rupee falls 21 paise to 94.71 against US dollar in early trade

Mumbai, Jun 18 (PTI) The rupee depreciated 21 paise to 94.71 against the US dollar in early trade on Thursday on US Federal Reserve’s hawkish stance and the broad strength of the American currency in the overseas market. Forex traders said the dollar Index rose to 100.23 levels, a 4-month high, due to a hawkish FED. The FED Reserve held interest rates steady as widely anticipated but implied that at least one quarter-point rate hike would come later this year. At the interbank foreign exchange market the rupee opened at 94.66, then touched 94.71, registering a fall of 21 paise

Federal Reserve policymakers show support for rate hikes as Warsh reins in guidance

WASHINGTON, June 18, 2026 (AP) — The Federal Reserve kept its key rate unchanged Wednesday yet almost half the central bank’s policymakers said they could support a rate hike later this year. The unexpectedly aggressive tilt toward higher rates would disappoint President Trump and suggests heightened concerns about persistent inflation among Fed officials. In an unusually short statement after their two-day meeting, the officials dropped language that had suggested their next move would be to cut the key rate. The brief statement reflects the influence of new chair Kevin Warsh, who was appointed by Trump. Warsh has previously criticized the

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