Pound slump means motorist pain at the petrol pump
6 days, 2 hours ago

Pound slump means motorist pain at the petrol pump

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Crude oil is the raw material for petrol and diesel and it is priced in dollars in international markets, meaning that a weaker pound makes for pricier fuel. Howard Cox, founder of the FairFuelUK campaign said: “Oil is priced in dollars and its going to make a very negative impact for drivers on the forecourts and the wholesale price for drivers will be going up.” The pound has suffered as investors sold large amounts of UK government debt, sending borrowing costs soaring, and leading Treasury minister Darren Jones to warn on Thursday that “public services will have to live within their means”. Oil is priced in dollars in international markets, meaning that a weaker pound makes for pricier fuel At supermarkets, petrol was 134 pence for unleaded and 139.5 pence for diesel. The CMA said in a statement: “Supermarket fuel margins increased over the May to August 2024 period, up from 7.0 per cent in April to 8.1 per cent in August.

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History of this topic

Fuel prices in the Netherlands rise in 2024, no quick decline expected
1 week, 6 days ago

Fuel prices in the Netherlands rise in 2024, no quick decline expected

NL Times  

Fuel prices in the Netherlands have continued to climb in 2024, with no significant decrease anticipated in the coming year. The current advisory price for Euro95 gasoline stands at 2.142 euros per liter, while diesel is priced at 1.902 euros per liter, reflecting a year marked by steady increases. Diesel prices have followed a similar trend, increasing from 1.870 euros …

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl
3 weeks, 4 days ago

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl

Live Mint  

International crude oil prices settled little changed in the previous session after markets weighed weak Chinese demand and fewer interest rate-cut expectations by the US Federal Reserve after recent prints of US inflation. -The US dollar retreated from a two-year high but was heading for a third consecutive week of gains after data showed cooling US inflation two days after …

Petrol prices: Driving home for Christmas set to be cheapest since pandemic
1 month, 1 week ago

Petrol prices: Driving home for Christmas set to be cheapest since pandemic

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Drivers are set to enjoy an early Christmas present this year with the cheapest festive fuel …

Oil rises after investors weigh escalation of Russia-Ukraine war amid rise in US crude stock; Brent at $73
1 month, 3 weeks ago

Oil rises after investors weigh escalation of Russia-Ukraine war amid rise in US crude stock; Brent at $73

Live Mint  

International crude oil prices were steady on Wednesday, November 20, as the escalating war between major oil producer Russia and Ukraine offset a rise in US crude and gasoline stocks. Back home, crude oil futures last traded 0.56 per cent lower at ₹5,825 per barrel on the multi commodity exchange. This has put geopolitical risk back in the market However, …

Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74
2 months, 1 week ago

Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74

Live Mint  

Crude oil prices slid 2.5% on Wednesday, November 6, snapping a five-day winning streak, weighed down by a stronger US dollar as early reports suggested that Republican candidate Donald Trump is edging closer to securing a second term in the White House. Crude prices have experienced notable fluctuations in recent sessions, influenced by OPEC+'s decision to delay December production plans …

Petrol and diesel prices remain at three-year low as Reeves freezes tax
2 months, 1 week ago

Petrol and diesel prices remain at three-year low as Reeves freezes tax

Daily Mail  

Fuel prices remain at a three-year low, according to the latest data from the RAC. The average price of petrol at the pump is now 135.2p after the Chancellor confirmed in the Budget that fuel duty would remain frozen for another 12 months. The average price of petrol at the pump is now 135.2p after the Chancellor confirmed in the …

Will petrol, diesel prices be slashed amid cheaper crude? Here's what Oil Ministry official has to say
3 months, 3 weeks ago

Will petrol, diesel prices be slashed amid cheaper crude? Here's what Oil Ministry official has to say

India TV News  

The petrol, and diesel prices are likely to be slashed amid cheaper crude prices as the international oil prices continue to be extremely volatile. It should be noted that the global oil benchmark Brent crude futures fell below USD 70 per barrel last week -- the first time since December 2021 -- but gained thereafter. While petrol and diesel pricing …

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary
4 months ago

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary

Live Mint  

Secretary at the Ministry of Petroleum and Natural Gas, Pankaj Jain, said on Thursday that oil companies will consider cutting fuel prices if crude oil remains low for an extended period. With the rise in fuel demand, India wants increased output from the Organisation of Petroleum Exporting Countries, its allies, and Russia, the Oil Secretary added. Global crude oil prices …

Petrol drops to a six-month low but warning of 'perma-high' prices remains with fuel duty hike looming
4 months, 4 weeks ago

Petrol drops to a six-month low but warning of 'perma-high' prices remains with fuel duty hike looming

Daily Mail  

UK petrol prices have fallen to their lowest level in six months, the AA has confirmed on Friday morning. Had the fuel duty cut not been implemented in March 2022, UK motorists would have endured average petrol prices at more than 150p a litre from 21 February to 8 August. This is Money reported that a trifactor of fuel duty …

How much are garages ripping YOU off by and could you save £5 by filling up at another station five minutes away? Use our interactive tool and map to find out...
5 months, 2 weeks ago

How much are garages ripping YOU off by and could you save £5 by filling up at another station five minutes away? Use our interactive tool and map to find out...

Daily Mail  

Drivers are being fleeced out of an extra £3 each time they fill their tank because of greedy petrol stations, analysis suggests. The figures come from 14 retailers participating in the CMA's temporary pricing data scheme, which covers around 40 per cent of UK forecourts and 65 per cent of fuel sold. The 14 retailers on the scheme are: Asda …

Drivers ripped off £1.6bn a year by fuel retailers pocketing 'significantly' higher margins
5 months, 2 weeks ago

Drivers ripped off £1.6bn a year by fuel retailers pocketing 'significantly' higher margins

Daily Mail  

Britain's millions of motorists are still paying too much to fill up at petrol stations due to retailers pocketing bigger profits from every litre they sell, according to an ongoing investigation into the fuel sector by the UK competition watchdog. The CMA says retailers' fuel margins – the difference between what they pay wholesale for their fuel and the price …

Oil sheds China demand worries, gains 1% on weaker US dollar & drop in stockpiles; Brent nears $85/bbl
5 months, 4 weeks ago

Oil sheds China demand worries, gains 1% on weaker US dollar & drop in stockpiles; Brent nears $85/bbl

Live Mint  

Crude oil prices climbed about one per cent on Wednesday, July 17, on a bigger-than-expected weekly drop in US crude stockpiles. Brent futures rose 96 cents, or 1.2 per cent, to $84.69 per barrel, while US West Texas Intermediate crude rose $1.36, or 1.7 per cent, to $82.12. Coming to domestic prices, crude oil futures last traded 1.95 per cent …

Warning issued about when to buy fuel as petrol price drop ends
6 months, 1 week ago

Warning issued about when to buy fuel as petrol price drop ends

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Motoring groups previously hoped petrol prices would fall below the pre-pandemic record high of …

Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel
6 months, 2 weeks ago

Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel

Live Mint  

Oil prices rose on Monday, fuelled by increasing summer demand optimism and the supply cuts by the Organisation of the Petroleum Exporting Countries. On Monday, Brent crude futures rose 0.81 per cent or 69 cents to $85.69 per barrel as of 13:36. Both the commodity contracts increased nearly 6 per cent in June, with Brent settling around $85 per barrel …

Average petrol prices increase again as drivers feel pain at the pumps
8 months, 3 weeks ago

Average petrol prices increase again as drivers feel pain at the pumps

The Independent  

Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more SIGN UP I would like to be emailed about …

OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024; central banks face inflation challenge
8 months, 3 weeks ago

OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024; central banks face inflation challenge

Live Mint  

Brent crude futures have surged 13.4% this year so far to $87.26 per barrel, propelled by escalating tensions in the Middle East, OPEC supply cuts, attacks on energy infrastructure between Ukraine and Russia, and increased oil demand from major consuming nations, all of which have tightened the market. Iran is the third largest producer in the Organization of the Petroleum …

Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87
9 months, 2 weeks ago

Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87

Live Mint  

International crude oil prices rebounded and rose by more than $1 per barrel on Thursday, March 28, after falling for two consecutive sessions ahead of the policy decision by the Organisation of Petroleum Exporting Countries. Brent crude futures for May were last up $1.21, or 1.4 per cent, at $87.30 per barrel, while the more actively traded June contract rose …

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl
9 months, 3 weeks ago

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl

Live Mint  

Oil prices declined on Thursday, March 21, pressured by weaker US gasoline demand data and reports of a United Nations draft resolution calling for a ceasefire in Gaza. US West Texas Intermediate futures for May were down 69 cents, or 0.9 per cent, to $80.58 per barrel after a fall of about 1.8 per cent in the previous session, according …

Oil rally cools off as prices slip 2% ahead of US Federal Reserve verdict; Brent down to $85.9/bbl
9 months, 3 weeks ago

Oil rally cools off as prices slip 2% ahead of US Federal Reserve verdict; Brent down to $85.9/bbl

Live Mint  

International crude oil prices slipped on Wednesday, March 20, after hitting multi-month highs in the previous session, as investors braced for the US Federal Reserve's interest rate policy announcement later in the day. Coming to domestic prices, crude oil futures were last trading 2.05 per cent lower at ₹6,746 per barrel on the multi commodity exchange. Oil prices pullback ahead …

Oil holds near 4-month high, logs 3% weekly gain on IEA demand forecast, Ukraine attack; Brent at $83/bbl
9 months, 4 weeks ago

Oil holds near 4-month high, logs 3% weekly gain on IEA demand forecast, Ukraine attack; Brent at $83/bbl

Live Mint  

Oil prices declined on Friday, March 16, a day after topping the $85 per barrel-mark for the first time since November, but prices settled almost three per cent higher for the week on higher demand from US refiners and the oil demand projections for 2024 by the International Energy Agency. Coming to domestic prices, crude oil futures last settled 0.15 …

Petrol pumps cap inventory amid hopes of fuel price cut
10 months ago

Petrol pumps cap inventory amid hopes of fuel price cut

Live Mint  

New Delhi: Retail fuel pumps across the country are operating with about three days of stock against the usual inventory of five days over the past month amid speculations of a cut in petrol and diesel prices ahead of general elections. Oil marketing companies need to determine retail fuel prices on a daily basis under the dynamic pricing mechanism based …

No diesel, petrol price cut until crude stabilises: Puri
10 months ago

No diesel, petrol price cut until crude stabilises: Puri

New Indian Express  

NEW DELHI: A day after reducing liquefied petroleum gas cylinder prices by Rs 100 nationwide, petroleum minister Hardeep Singh Puri clarified there are no plans to cut petrol and diesel prices in the domestic market until crude prices stabilise in the international market. The minister cited volatile nature of the international oil market and ongoing under-recoveries by the oil marketing …

Oil prices slip amid interest rate outlook; Brent crude at $81.42/bbl
10 months, 2 weeks ago

Oil prices slip amid interest rate outlook; Brent crude at $81.42/bbl

Live Mint  

Oil prices experienced a slight decline amid speculation that unexpectedly robust inflation figures might postpone reductions in high interest rates, which have been restraining global fuel demand growth. Brent crude futures saw a decrease of 20 cents, marking a 0.3% drop to $81.42 per barrel by 1415 GMT. This downward trend follows last week's losses, with Brent experiencing a decline …

Is petrol, diesel price cut happening? Oil minister Hardeep Singh Puri responds
1 year ago

Is petrol, diesel price cut happening? Oil minister Hardeep Singh Puri responds

India TV News  

Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut. The Union Minister informed, "There has been no discussion with the oil marketing …

Boosts for drivers as petrol prices fall to lowest level in more two years
1 year ago

Boosts for drivers as petrol prices fall to lowest level in more two years

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. If wholesale prices are reflected more fairly at the …

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl
1 year, 1 month ago

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl

Live Mint  

Oil prices fell by 2.5 per cent on Wednesday, December 6, as a bigger-than-expected rise in US gasoline inventories worried markets about demand and outweighed a draw in crude stocks. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last trading lower by 4.75 per cent at ₹5,791 per bbl, having swung …

Oil prices slump 4% after OPEC+ postpones output policy meeting to November 30; Brent drops to $79/bbl
1 year, 1 month ago

Oil prices slump 4% after OPEC+ postpones output policy meeting to November 30; Brent drops to $79/bbl

Live Mint  

Oil prices plunged 4 per cent on Wednesday, November 22, after the Organisation of Petroleum Exporting Countries and it allies unexpectedly delayed the policy meeting on output planned for Sunday, raising questions about the future course of crude production cuts. {{^adFree}} {{/adFree}} Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last …

Oil headed for third weekly decline on global demand concerns; Brent ticks higher to $81/bbl
1 year, 2 months ago

Oil headed for third weekly decline on global demand concerns; Brent ticks higher to $81/bbl

Live Mint  

Oil prices rose on Friday but are set to fall for a third week amid signs of slowing demand and as market attention turns to a key meeting of OPEC and its allies this month which will determine the group's next move on production. Back home, on the Multi Commodity Exchange, crude oil futures due for a November 17 expiry, …

Brent inches 1% higher to $86/bbl as OPEC sticks to 2024 oil demand, IEA downgrades on macro concerns
1 year, 3 months ago

Brent inches 1% higher to $86/bbl as OPEC sticks to 2024 oil demand, IEA downgrades on macro concerns

Live Mint  

OPEC stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further demand gains in China. The Organisation of Petroleum Exporting Countries has stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs …

No petrol, diesel price hike likely despite crude oil price surge as elections loom: Moody's
1 year, 3 months ago

No petrol, diesel price hike likely despite crude oil price surge as elections loom: Moody's

The Hindu  

Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody's Investors Service said. "High crude oil prices will weaken the profitability of the three state-owned oil marketing companies in India — IOC, BPCL and HPCL," Moody's said in a report. "Still, the three companies' fiscal 2024 earnings will …

Oil prices have risen. That’s making gas more expensive for US drivers and helping Russia’s war
1 year, 3 months ago

Oil prices have risen. That’s making gas more expensive for US drivers and helping Russia’s war

Associated Press  

FRANKFURT, Germany — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel. Oil prices can be volatile, and while they might briefly top $100 in the coming months, they’re unlikely to stay there, said Jorge Leon, senior vice president for oil markets at Rystad Energy. Leon said the Saudis will review …

Surging oil price fuels fresh inflation fears as petrol stays above $2 per litre
1 year, 4 months ago

Surging oil price fuels fresh inflation fears as petrol stays above $2 per litre

ABC  

Surging fuel prices are igniting fresh inflation fears, as production cuts by the global oil cartel heap yet more pain on consumers. Key points: Fuel prices across Australia have averaged more than $2 a litre for about a month Analysts say production cuts by the global oil cartel and a weak Aussie dollar are to blame The resurgent price has …

Oil sizzles at 10-month high on Saudi, Russia output cuts; Brent over $91/bbl
1 year, 4 months ago

Oil sizzles at 10-month high on Saudi, Russia output cuts; Brent over $91/bbl

Live Mint  

Oil prices rose about 1 per cent on Tuesday, September 12, boosted by a tighter supply outlook, after oil producers Saudi Arabia and Russia extended their voluntary oil supply cuts till the end of the year. Back home, on the Multi Commodity Exchange, crude oil futures due for a September 19 expiry, were last trading higher by 1.73 per cent …

Petrol prices to stay high as oil prices and weak Australian dollar flow through to the bowser
1 year, 4 months ago

Petrol prices to stay high as oil prices and weak Australian dollar flow through to the bowser

ABC  

Analysts say petrol prices will stay above $2 a litre for "the next few weeks" after reaching their highest level this year, as pressures from the global oil market flow through to petrol bowsers across the country. Key points: The average weekly petrol price sits at 197.5 cents a litre for capital cities and 194.6 cents a litre for regional …

Government demands new petrol prices comparison website in profiteering crackdown
1 year, 6 months ago

Government demands new petrol prices comparison website in profiteering crackdown

The Telegraph  

Motorists are to be told where they can buy the cheapest petrol under Government plans to crackdown on service station profiteering. Ministers believe the transparency provided by a “pumpwatch” online service could also drive down prices - as well as expose any potential profiteering. Government sources acknowledged it will be tricky because the nature of the business means retailers buy …

Oil and natural gas prices rise after weekend of turmoil in Russia
1 year, 6 months ago

Oil and natural gas prices rise after weekend of turmoil in Russia

CNN  

Hong Kong/London CNN — Oil and natural gas prices climbed Monday, while wheat prices briefly spiked higher, as investors reacted to the weekend’s brief and chaotic insurrection in Russia. “Given that the short-lived event this weekend in Russia appears to have ended, we do not expect to see such a significant increase in oil prices,” analysts at Rystad Energy wrote …

Good news! Petrol, diesel prices to come down soon | Here is WHY
1 year, 6 months ago

Good news! Petrol, diesel prices to come down soon | Here is WHY

India TV News  

Petrol and diesel price cut: Consumers can get good news very soon regarding the petrol and diesel price cut. Depend on price of crude oil Oil companies' valuations appear reasonable but a sharp jump in crude prices during elections could pose risk to OMCs marketing earnings, the report said. However, OMCs marketing segment earnings could come under risk if Brent …

With oil prices slumping, OPEC+ producers weigh more production cuts
1 year, 7 months ago

With oil prices slumping, OPEC+ producers weigh more production cuts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The major oil-producing countries led …

Supermarkets have cut rip-off diesel prices by 7p-a-litre since watchdog report
1 year, 7 months ago

Supermarkets have cut rip-off diesel prices by 7p-a-litre since watchdog report

Daily Mail  

Supermarkets have cut the price of diesel by 7p-a-litre under a threat of legal action by the competitions watchdog. Since May 15, when the regulator noted a rise in profit margins, the average price of per litre of diesel at supermarkets has fallen by 7.44p – from 151.02p to 143.58p. Major retailers, including supermarkets, have cut their diesel prices by …

Diesel drops below £1.50-a-litre for the first time in 15 MONTHS
1 year, 7 months ago

Diesel drops below £1.50-a-litre for the first time in 15 MONTHS

Daily Mail  

The average diesel pump price has dropped below £1.50p-a-litre for the first time since 1 February 2022, meaning it is down 50p on the record highs drivers faced in July. Diesel drop: The price of the fuel has dipped below £1.50-a-litre for the first time since February 2022 and is now 50p less than the record high posted last summer …

Supermarkets hike diesel and petrol prices more than needed, CMA finds
1 year, 8 months ago

Supermarkets hike diesel and petrol prices more than needed, CMA finds

Daily Mail  

Fuel retailers, particularly supermarkets, have hiked diesel and petrol prices more than needed to boost profit margins, the competition watchdog has found. Fuel prices: The CMA will be grilling supermarkets 'to get to the bottom of what is going on' 'Evidence gathered by the CMA indicates that fuel margins have increased across the retail market, but in particular for supermarkets, …

I run Britain's cheapest petrol station and I'm charging far less than the UK average
1 year, 8 months ago

I run Britain's cheapest petrol station and I'm charging far less than the UK average

Daily Mail  

A garage owner is claiming the crown of 'King of the Pumps' because he believes he is selling the cheapest fuel available anywhere in Britain. Vijay Jaganathan is advertising both petrol and diesel at 129.9p per litre at his rural forecourt - compared to the UK average of 145p for petrol and 154p for diesel. Vijay Jaganathan is currently advertising …

How petrol and diesel prices have changed over the past decade
1 year, 8 months ago

How petrol and diesel prices have changed over the past decade

Daily Mail  

Petrol and diesel prices have fallen almost 50p a litre since they peaked last summer, but are still far higher than they were in 2021, new figures have shown. In its weekly report on road fuel prices, the Department of Energy Security and Net Zero reported that the average price of unleaded at the pump is now 145.71p per litre. …

Why OPEC's crude oil production cut is bad news for India
1 year, 9 months ago

Why OPEC's crude oil production cut is bad news for India

India Today  

The surprise cut in crude oil production by the Organization of Petroleum Exporting Countries on April 2 has shocked commodity markets worldwide, with Brent crude prices climbing $5 a barrel. OPEC’s decision to cut 1.16 million barrels of oil per day to shore up prices has put the world economy, which is already looming under the threat of a recession, …

Oil producers’ cuts could boost gasoline prices, help Russia
1 year, 9 months ago

Oil producers’ cuts could boost gasoline prices, help Russia

Associated Press  

FRANKFURT, Germany — Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. The decision by oil producers, many of them in the OPEC oil cartel, to cut production by more than 1 million barrels a day comes after prices for international benchmark crude slumped amid a slowing global economy that needs less fuel for …

Oil producers' cuts could boost gasoline prices, help Russia
1 year, 9 months ago

Oil producers' cuts could boost gasoline prices, help Russia

Firstpost  

Russia is joining in by extending its own cuts for the rest of the year. In theory, less oil flowing to refineries should mean higher gasoline prices for drivers and could boost the inflation hitting the US and Europe Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. In theory, less oil flowing to …

Oil prices surge as Saudi Arabia leads shock production cuts
1 year, 9 months ago

Oil prices surge as Saudi Arabia leads shock production cuts

The Independent  

✕ Close Related video For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Oil …

Explained: Why cheap crude oil won't reduce your petrol, diesel expenses
1 year, 9 months ago

Explained: Why cheap crude oil won't reduce your petrol, diesel expenses

India Today  

Petrol and diesel prices, which have remained unchanged for over a year, have not dropped even after a sharp fall in global crude oil prices over the past few days. It may be noted that petrol and diesel prices have not been revised by OMCs in over a year, despite constantly high global crude oil prices. These three OMCs, which …

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?
1 year, 9 months ago

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?

News 18  

Even as crude oil prices have fallen significantly following the bank collapses in the US, including Silicon Valley Bank and Signature Bank, the prices of petrol and diesel are unlikely to come down in India. According to a CNBC-TV18 report quoting sources, prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies …

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