BJP\'s loot continues even when global crude oil price fall: Cong on high fuel rates
2 years ago

BJP\'s loot continues even when global crude oil price fall: Cong on high fuel rates

Deccan Chronicle  

NEW DELHI: Congress president Mallikarjun Kharge and Rahul Gandhi on Thursday hit out at the government over high prices of petrol and diesel in the country and said the BJP's "loot" continues even when global crude oil prices were down in the last few months. Former Congress president Rahul Gandhi on Thursday said while global crude oil rates have come down by 25 per cent but the government has not reduced a single rupee in petrol and diesel prices in the country. Petrol and diesel prices in the country can be reduced by more than Rs 10, but the government has not reduced even one rupee," he said in a tweet in Hindi. Global crude oil prices have come down considerably but oil companies have not reduced the price of petrol and diesel in the country.

Oil Bjp Crude Crude Oil Diesel Price Petrol Rs  diesel  price  country  petrol  rs  prices  loot  fuel  oil  reduced  high  gandhi  crude  rates  fall  global  continues

History of this topic

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022
1 week, 2 days ago

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022

Live Mint  

India's import of Russian crude dropped to its lowest level since June 2022 in November this year, reported the news agency PTI on Sunday, December 15, citing a Centre for Research on Energy and Clean Air report. “India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022,” the …

Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74
1 month, 2 weeks 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 …

Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62
2 months, 1 week ago

Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62

ABP News  

As of today, the fuel prices in Delhi remain relatively stable, with minor fluctuations due to global crude oil prices and other factors like supply chain dynamics. Fuel prices in India are revised daily based on the 15-day average of global oil prices, which is a dynamic pricing model. Despite the global fluctuations in oil supply and demand, especially due …

Nifty 50 slides 4.4% this week, posts largest weekly drop since June 2022 on growing Iran-Israel war fears, FII outflows
2 months, 2 weeks ago

Nifty 50 slides 4.4% this week, posts largest weekly drop since June 2022 on growing Iran-Israel war fears, FII outflows

Live Mint  

Escalating Middle East tensions have significantly impacted the Indian market, resulting in substantial losses for the Nifty 50 and Sensex. The Nifty 50 saw a weekly drop of 4.45%, with real estate stocks hit hardest, while rising oil prices add further economic pressure. Heightened Middle East tensions have a significant impact on oil prices, given that this region accounts for …

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption
3 months ago

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption

Live Mint  

New Delhi: India's petroleum exports saw a steep decline during the first five months of fiscal year 2025 due to lower demand from key markets and disruptions along the supply route, especially in the Red Sea region. "The drop in India's petroleum exports in the last three months was mostly due to the Red Sea issue, which led to higher …

Will petrol, diesel prices be slashed amid cheaper crude? Here's what Oil Ministry official has to say
3 months 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
3 months, 1 week 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 …

Crude Oil Prices Fall: Asian Paints, Kansai Gain Up To 5% But ONGC, Oil India Shares Fall
3 months, 2 weeks ago

Crude Oil Prices Fall: Asian Paints, Kansai Gain Up To 5% But ONGC, Oil India Shares Fall

News 18  

A continued decline in Brent crude prices has come as a blessing for oil marketing companies and paint manufacturers, while at the same time, dented sentiment for oil refiners. On the bourses, Asian Paints, Berger Paints India, Shalimar Paints, Kansai Nerolac Paints, Indigo Paints, and Akzo Nobel India gained in the range of 1 per cent to 5 per cent …

India only country where petrol, diesel prices declined in last 3 years: Puri
4 months, 3 weeks ago

India only country where petrol, diesel prices declined in last 3 years: Puri

Hindustan Times  

New Delhi, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said India is the only country where rates of petrol and diesel have come down between November 2021 and April 2024. India only country where petrol, diesel prices declined in last 3 years: Puri Replying to various queries during Question Hour in Rajya Sabha, the minister also …

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other details
6 months, 1 week ago

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other details

Live Mint  

Petrol and diesel prices are likely to go up by ₹3 and ₹3.05 approximately in Karnataka as the state government decided to increase taxes on June 15, according to the Petroleum Dealers Association {{^adFree}} {{/adFree}} According to the notification, the sales tax on petrol has been increased from 25.92 percent to 29.84 percent, while the tax on diesel has risen …

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today
7 months, 1 week ago

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today

Live Mint  

India has cut the windfall tax on petroleum crude to ₹5,700 per metric ton from ₹8,400 with effect from May 16, Reuters reported. Windfall Tax Movements The tax is revised every two weeks, and was similarly cut on May 1, only for petroleum crude to ₹8,400 a metric ton from ₹9,600. In April 2024, the windfall tax on petroleum crude …

Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On May 05
7 months, 2 weeks ago

Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On May 05

News 18  

Petrol, Diesel Prices Today On May 05, 2024: Each day at 6 am, oil marketing companies unveil the prices of petrol and diesel, unfazed by their volatility. Petrol Diesel Price Today In India Check city-wise petrol and diesel prices on May 05; City Petrol Price Diesel Price Delhi 94.72 87.62 Mumbai 104.21 92.15 Chennai 100.75 92.34 Kolkata 103.94 90.76 Noida …

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?
7 months, 2 weeks ago

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?

Live Mint  

Oil prices extended losses on Friday, May 3, 2024 and stayed on course for the steepest weekly loss in three months, as investors weighed lower-than-expected US jobs data and the timing of interest rate cuts by the US Federal Reserve. Coming to domestic prices, crude oil futures declined 0.76 per cent to ₹6,551 per barrel on the multi commodity exchange. …

Petrol sales up 12.3%; diesel slides 2.3% in April 2024
7 months, 3 weeks ago

Petrol sales up 12.3%; diesel slides 2.3% in April 2024

The Hindu  

India's petrol consumption soared 12.3% in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on May 01. Petrol sales of three state-owned firms, which control 90% of the fuel market, rose to 2.97 million tonnes in April compared to 2.65 million tonnes of consumption in …

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%
8 months, 1 week ago

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%

Live Mint  

India's crude oil import dropped 16 per cent in the fiscal year ended March 31 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. {{^adFree}} {{/adFree}} But it paid USD 132.4 billion for the imports in FY24 as against USD 157.5 billion import bill in 2022-23, oil ministry's Petroleum Planning and …

India's Petrol Consumption Rises 7% Amid Summer Season, Diesel Demand Declines
8 months, 1 week ago

India's Petrol Consumption Rises 7% Amid Summer Season, Diesel Demand Declines

Deccan Chronicle  

New Delhi: With the onset of summer season, fuel demand is likely to go up as India’s petrol consumption surged 7 per cent in the first half of April, but diesel sales were down by 9.5 per cent. Diesel demand too was down 2.7 per cent month-on-month when compared to 3.22 million tonnes in the first half of March,” the …

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5
8 months, 3 weeks ago

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5

The Hindu  

The government on March 31 cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to $9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said. For the six-month period starting April 1, the price of gas from deepsea and high-pressure, high-temperature …

Petrol, Diesel Fresh Prices Announced On March 26: Know Fuel Rates In Your City
8 months, 4 weeks ago

Petrol, Diesel Fresh Prices Announced On March 26: Know Fuel Rates In Your City

News 18  

Petrol and Diesel Prices Today On March 26, 2024: Government oil companies have released the latest petrol and diesel rates for today i.e. Petrol-diesel prices in metros After this cut, the price of petrol in the national capital is now Rs 94.72 per liter, which was earlier Rs 96.72 per liter. Here the price of petrol has come down by …

Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On March 25
8 months, 4 weeks ago

Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On March 25

News 18  

Petrol, Diesel Prices Today On March 25, 2024: Every morning at 6 am, oil marketing companies reveal the prices of petrol and diesel, regardless of their stability. Petrol Diesel Price Today In India Mumbai Petrol & Diesel Price Mumbai Petrol Price Today As of March 25, the price of petrol in Mumbai continued to exceed the Rs 100 mark, reaching …

Petrol and diesel prices reduced by ₹2 per litre ahead of Lok Sabha elections
9 months, 1 week ago

Petrol and diesel prices reduced by ₹2 per litre ahead of Lok Sabha elections

Hindustan Times  

Petrol and diesel prices are being reduced by ₹2 per litre, Union petroleum minister Hardeep Singh Puri announced on Thursday. “By slashing petrol and diesel prices by ₹2, prime minister Narendra Modi has once again shown that providing welfare and convenience to his family of crores of Indians, has always been his goal,” Puri wrote in a post on X. …

Petrol, diesel prices reduced: Check new rates in your city
9 months, 1 week ago

Petrol, diesel prices reduced: Check new rates in your city

India TV News  

Petrol, Diesel Price Cut: The government on Thursday reduced petrol and diesel prices by Rs 2 per litre, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri informed. Taking to social media platform X, Hardeep Singh Puri wrote, "By reducing the price of petrol and diesel by Rs 2, PM Modi has once again proved that the welfare and …

No diesel, petrol price cut until crude stabilises: Puri
9 months, 2 weeks 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
9 months, 4 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 …

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC
10 months ago

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in January 2024 - registering a growth of 0.7 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports increased by 5.7 per cent and 0.9 per cent during January 2024 and April-January 2023-24 respectively, compared to the corresponding period of …

Crude oil price dips 38 percent but benefit not passed on to consumers: Congress
10 months, 2 weeks ago

Crude oil price dips 38 percent but benefit not passed on to consumers: Congress

New Indian Express  

NEW DELHI: The Congress on Wednesday attacked the government over fuel prices, alleging that crude oil has become cheaper in the last two years but "looting from the public continues". Congress general secretary Jairam Ramesh shared a media report on X in which he claimed that crude oil prices have gone down by 38 per cent but its benefits were …

Petrol, diesel fresh prices: Check rates of different cities on January 31
10 months, 3 weeks ago

Petrol, diesel fresh prices: Check rates of different cities on January 31

India TV News  

Every day, at 6 am, the curtain lifts on the prices of petrol and diesel, unfazed by the ebb and flow of market dynamics. This daily practice is a product of the strategic manoeuvres of oil marketing companies, adept at recalibrating prices based on the mercurial shifts in global crude oil prices and foreign exchange rates. With a finger on …

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC
11 months ago

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC

Live Mint  

Crude oil imports increased by 1.1 per cent and 0.4 per cent during December 2023 and April-December 2023 respectively, compared to the corresponding period of the previous year. The cumulative natural gas consumption for the current financial year till December 2023 stood at 49,540 MMSCM, which was higher by 9.4 per cent compared with the corresponding period of the previous …

Oil companies may slash petrol, diesel prices by Rs 5-10 next month
11 months, 1 week ago

Oil companies may slash petrol, diesel prices by Rs 5-10 next month

India TV News  

State-owned Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd are considering a reduction in petrol and diesel prices in February, just ahead of the Lok Sabha elections. The companies are expected to make a decision on reducing petrol and diesel rates, possibly by Rs 5 to Rs 10 per litre, after assessing their financial results and …

Crude oil prices falling but no relief to public: Kharge slams Centre
11 months, 2 weeks ago

Crude oil prices falling but no relief to public: Kharge slams Centre

Hindustan Times  

New Delhi: Congress president Mallikarjun Kharge on Thursday criticised the central government for failing to lower petrol and diesel prices claiming there has been a significant drop in global crude oil prices. Congress president Mallikarjun Kharge “Crude oil prices have plunged by 31% over 19 months,” he said and accused Prime Minister Narendra Modi-led Bharatiya Janata Party government at the …

No Plans to Cut Petrol, Diesel Prices Ahead of Lok Sabha Polls: Hardeep Singh Puri
11 months, 2 weeks ago

No Plans to Cut Petrol, Diesel Prices Ahead of Lok Sabha Polls: Hardeep Singh Puri

Deccan Chronicle  

New Delhi: Ahead of Lok Sabha polls this year, the probability of a cut in prices of petrol and diesel has been ruled out by the government as Union petroleum minister Hardeep Singh Puri on Wednesday clarified that there’s no proposal to cut fuel prices, while the media reports are ‘speculative’. The statement by the oil minister comes amid several …

Is petrol, diesel price cut happening? Oil minister Hardeep Singh Puri responds
11 months, 3 weeks 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 …

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC
1 year ago

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC

Live Mint  

India produced a total of 2.4 million metric tonnes of crude oil in November 2023 - registering a de growth of 0.4 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports decreased by 2.3 per cent and increased by 0.4 per cent during November 2023 and April-November 2023 respectively, compared to the …

ONGC, Oil India poised for growth amid shifting oil dynamics
1 year ago

ONGC, Oil India poised for growth amid shifting oil dynamics

Live Mint  

Shares of Oil & Natural Gas Corp Ltd and Oil India Ltd have been on fire, significantly outperforming the Nifty50 index with gains of 38% and 73% respectively this calendar year. This tax, adjusted biweekly, stabilizes net oil realizations for companies like ONGC and Oil India, ensuring consistent earnings. JM Financial Securities Ltd notes that the windfall tax adjustments by …

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC
1 year, 1 month ago

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in October 2023 - registering a growth of 1.3 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. According to PPAC data, crude oil imports increased by 2.2 per cent and by 0.6 per cent during October 2023 and April-October 2023 respectively, compared …

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 …

Petrol and diesel prices on November 20: What are the rates in your city today?
1 year, 1 month ago

Petrol and diesel prices on November 20: What are the rates in your city today?

Hindustan Times  

The petrol and diesel prices across Delhi, Mumbai and other metropolitan cities remained unchanged on Monday, November 20, as major oil marketing companies like Bharat Petroleum, Hindustan Petroleum and Indian Oil decided to keep the rates stable. The petrol and diesel prices in Delhi were recorded at ₹96.72 and ₹89.62 respectively on November 20, while in Mumbai, the fuel rates …

Rupee likely to remain rangebound despite drop in US dollar, yields, oil prices
1 year, 1 month ago

Rupee likely to remain rangebound despite drop in US dollar, yields, oil prices

Live Mint  

After hitting a record of 83.42 against the US dollar on November 10, the Indian rupee has stabilised and is expected to witness a rangebound movement going into the next week amid lack of fresh triggers, analysts said. “The recovery in the domestic equities backed by foreign fund inflows and lower crude oil prices are providing support to the local …

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

Crude price rise: Anand Rathi initiates coverage on ONGC, Oil India
1 year, 1 month ago

Crude price rise: Anand Rathi initiates coverage on ONGC, Oil India

Live Mint  

Though we don’t expect them to flare up to FY23 highs, recovering demand and OPEC’s supply cuts would keep crude prices high and support upstream companies ONGC and Oil India, said brokerage house Anand Rathi in a recent report. On the back of this current scenario, the brokerage has initiated coverage on upstream companies ONGC and Oil India with ‘Buys’ …

Domestic crude oil production at 2.4 MMT in September, imports rise 6.1% YoY: PPAC
1 year, 2 months ago

Domestic crude oil production at 2.4 MMT in September, imports rise 6.1% YoY: PPAC

Live Mint  

India produced a total of 2.4 million metric tonnes of crude oil in September 2023 - registering a steady growth compared to the year-ago period, according to Petroleum Planning & Analysis Cell. {{^adFree}} {{/adFree}} Crude oil imports increased by 6.1 per cent and by 0.4 per cent during September 2023 and April-September 2023 respectively, compared to the corresponding period of …

Oil prices soar on Israel-Hamas conflict; India watching situation closely
1 year, 2 months ago

Oil prices soar on Israel-Hamas conflict; India watching situation closely

Live Mint  

New Delhi: International crude oil prices surged on Monday amid the military clash between Israel and Hamas forces of Palestine. Sharad Chandra Shukla, director at Mehta Equities said the recent escalation in the Israel-Palestine conflict has injected uncertainty into global markets, leading to a surge in crude oil prices and a hardening of US Treasury yields. “Oil prices rose more …

No petrol, diesel price hike likely despite crude oil price surge as elections loom: Moody's
1 year, 2 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 …

India tells OPEC it must be sensitive to needs of oil consuming nations
1 year, 2 months ago

India tells OPEC it must be sensitive to needs of oil consuming nations

Live Mint  

New Delhi: With oil prices on the boil, union petroleum and natural gas minister Hardeep Singh Puri has asked the Organisation of the Petroleum Exporting Countries to be sensitive to the needs of oil-consuming nations and curb output cuts. In another tweet, the minister wrote, "During the pandemic, when crude oil prices crashed, the world came together to stabilize the …

Windfall tax on crude oil hiked to ₹10,000 per tonne, ATF export reduced
1 year, 3 months ago

Windfall tax on crude oil hiked to ₹10,000 per tonne, ATF export reduced

Live Mint  

The government has hiked windfall tax on the sale of locally-produced crude oil from ₹6,700 to ₹10,000 per tonne, with effect from September 16. Centre first imposed the windfall taxes on the sale of locally produced crude oil with effect from July 1, 2022 as oil exploration and producing companies made heavy profits amid multi-year high crude oil prices post …

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl
1 year, 3 months ago

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl

Live Mint  

India's oil products demand increased by 118,000 barrels per day on a month on month basis in August as below-average rainfall and uneven distribution led to strong factory activity and increased mobility, according to a report by S&P Global Commodity Insights. On a year-on-year basis, the oil demand was up by 270,000 barrels per day, or 6 per cent, over …

Crude import costs down 35%, creates room to cut fuel prices
1 year, 4 months ago

Crude import costs down 35%, creates room to cut fuel prices

Live Mint  

NEW DELHI : India’s oil import bill declined 35.3% during the first four months of FY24 due to easing crude oil prices over the past year. This fall in the import bill will likely see oil marketing companies, which operate most of the refineries in the country, increase their refining and marketing margins—and profits too —as retail fuel prices have …

Oil falls over 1.5% after weak data from Asian refiners offsets tighter supply
1 year, 4 months ago

Oil falls over 1.5% after weak data from Asian refiners offsets tighter supply

Live Mint  

Oil prices fell by more than 1.5 per cent on August 8 after data showed that China's imports and exports fell much more than expected in July in another sign of a sluggish post-COVID rebound for the world's largest oil importer. Back home, on the Multi Commodity Exchange, crude oil futures due for an August 21 expiry, were last trading …

ECONOMIC PERSPECTIVES | On oil’s slippery slope: India’s goods exports struggle to stem decline
1 year, 4 months ago

ECONOMIC PERSPECTIVES | On oil’s slippery slope: India’s goods exports struggle to stem decline

The Hindu  

Published : Jul 27, 2023 11:00 IST - 6 MINS READ At first look, the evidence is worrying. The value of the country’s goods exports in June dropped to an eight-month low of $33 billion, having fallen sharply by 22 per cent year on year. The value of the country’s oil product exports rose from $25.8 billion in the 2020-21 …

Petrol and diesel prices on July 22: Check latest rates in your city today
1 year, 5 months ago

Petrol and diesel prices on July 22: Check latest rates in your city today

Hindustan Times  

Petrol and diesel prices remained unchanged for major Indian cities on Saturday. According to fuel prices revised by oil marketing companies at 6 am, petrol in Delhi was being sold at ₹96.72 per litre while the price of diesel stood at ₹89.62 per litre. Petrol and diesel prices are revised daily by the oil marketing companies at 6 am CITY …

Falling oil prices may not ease inflation
1 year, 5 months ago

Falling oil prices may not ease inflation

Live Mint  

NEW DELHI : Falling crude oil prices, on the back of concerns over a global slowdown and recession, are unlikely to bring down domestic inflation sharply, as the benefits of the drop are yet to be passed on to retail customers, said economists. According to economists, falling crude oil prices can, however, help the government on the fiscal and macroeconomic …

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