Townsville City Council has increased minimum general rates by 7.2% for households and businesses, citing inflation and fuel price hikes. The average residential ratepayer will see a 6.8% increase, amounting to an extra $5.48 weekly, with a cap of 20% for some properties. The council also found $16 million in savings.
India ranks second lowest globally in fuel price increases, attributed to a focused energy strategy balancing security and affordability. The nation is promoting ethanol blending and flex-fuel vehicles, with plans for extensive infrastructure rollout.
France's government denies a fiscal windfall from rising fuel prices, stating that while VAT revenue increased by €302M, excise tax revenue fell by €342M due to a 7% drop in consumption. This offsets gains, and the government highlights €1.4B in emergency aid.
Indian automakers Maruti Suzuki and Kia India achieved record-breaking sales in May 2026, defying fuel price increases. Passenger vehicle sales saw significant growth across the industry, with Maruti Suzuki reporting its highest-ever monthly sales.
India's Finance Minister Nirmala Sitharaman stated the government is open to discussing concerns from investors regarding Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG) taxation. She also defended recent fuel price hikes due to global crude costs and highlighted monitoring of 'three Fs': fuel, fertilizer, and forex.
India's government has sacrificed nearly Rs 14,000 crore in tax revenue by reducing excise duty on petrol and diesel to protect consumers from rising fuel prices due to the West Asia crisis. Oil companies continue to face daily losses of around Rs 600 crore.
Union Finance Minister Nirmala Sitharaman linked the West Asia crisis to rising fuel prices in India, stating the government is sacrificing Rs 1 lakh crore in revenue due to excise duty cuts to protect citizens and businesses.
Rahul Gandhi criticized PM Modi for recent fuel price increases, dubbing him 'Inflation Man Modi'. He accused the government of fleecing consumers post-elections, with petrol and diesel prices rising over Rs 7 in two weeks.
Opposition parties in India, including Congress and AAP, have strongly criticized the Modi government for recent increases in petrol and diesel prices. They accuse the government of "fuel loot" and burdening citizens despite stable international crude oil prices, questioning why India isn't buying cheaper oil from Russia and Iran.
Bharat Petroleum Corporation Ltd. Director HR Raj Kumar Dubey stated that a further fuel price hike in India might be unavoidable if global energy disruptions persist. Policymakers are considering three options: raising retail prices, absorbing losses, or government deficit financing.
India saw one of the world's smallest fuel price increases (around 5%) despite global surges, following a 76-day freeze. This was achieved through excise duty cuts and absorbing costs, unlike steeper hikes in Nepal, Sri Lanka, and the US.
Congress has criticized PM Narendra Modi for the third fuel price hike in 10 days, labeling him 'Mehengai Man' and accusing his government of favoring oil companies over citizens. Petrol and diesel prices increased by under Rs 1 per litre, with CNG also seeing a rise.
France unveils new aid for home care workers to combat rising fuel costs, including increased "grands rouleurs" aid and a social car leasing program. Workers welcome the recognition but question the practicality of electric vehicle initiatives in rural areas.
BJP defends a 90-paise fuel price hike, stating it's among the world's lowest increases. OMCs absorbed losses for 76 days amid rising global crude prices due to West Asia conflict.
Congress criticizes PM Modi's government after petrol and diesel prices increased by ~90 paise, the second hike in a week. The party labels Modi 'Inflation Man' and claims prices have risen by Rs 4 in 4 days, reaching Rs 109 for petrol and Rs 96 for diesel.
Nationwide protests in Kenya over soaring fuel prices have resulted in at least four deaths and 30 injuries. Over 348 people were arrested as transport unions strike, demanding a reversal of recent price hikes. The government blames "criminal elements" and "political actors," while opposition figures accuse the president of profiteering.
Thousands of Kenyan commuters stranded and businesses paralyzed nationwide due to a public transport strike protesting fuel price increases. Clashes reported between police and protesters.
Dozens of right-wing French MPs have signed a proposal for a parliamentary inquiry into rising fuel prices, seeking to identify potential profiteers and assess the impact of state aid. The initiative, led by LR deputy Antoine Vermorel-Marques, aims to pressure distributors and refiners, with a report due in the fall.
Retail fuel price increases in India are projected to raise headline inflation by 10-25 basis points in the coming months. Analysts warn this could prompt the RBI to revise its inflation forecasts, with cascading effects on other goods and services.
Congress attacks PM Modi over Rs 3/litre petrol/diesel and Rs 2/litre CNG price hikes, linking it to post-Assembly election 'extortion'
India's opposition parties condemn the NDA government's decision to raise petrol and diesel prices by Rs 3 per litre, citing increased inflation and economic strain amid the global energy crisis.
India may raise retail petrol and diesel prices if the Middle East conflict persists, warned RBI Governor Sanjay Malhotra, citing rising energy import costs and inflation risks despite reduced excise duties and state refiners absorbing losses.
Public sector oil companies are facing daily losses of Rs 1,000 crore, potentially forcing fuel price hikes soon. Minister Hardeep Singh Puri highlighted significant under-recoveries, warning that companies cannot sustain these losses indefinitely. While elections are not the reason for the freeze, a drop in crude prices or reopening of the Strait of Hormuz could offer relief.
