Rising fuel prices: The road ahead
6 years, 4 months ago

Rising fuel prices: The road ahead

Deccan Chronicle  

Petrol and diesel prices are on a fire again, hitting farmers, transporters, fishermen, consumers and commuters. India deregulated the price of petrol in 2010 and that of diesel in 2014, ending government’s control over fuel prices that are now decided depending upon the price of crude oil in international market. However, when crude oil prices were falling the Modi government started hiking taxes on petrol and diesel to increase its tax kitty. Between November 2014 and January 2016, Centre had raised excise duty on petrol and diesel on nine occasions to take away most gains arising from plummeting international oil prices. It seems consumers will have to bear high fuel prices until political pressure forces governments to reduce taxes on fuel, work out some alternative mechanism for oil prices or external factors improve.

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History of this topic

Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62
2 months, 4 weeks 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 …

Fuel Prices Remain Stable in Delhi Amid Global Fluctuations
3 months, 2 weeks ago

Fuel Prices Remain Stable in Delhi Amid Global Fluctuations

ABP News  

Fuel prices in Delhi remain stable for now, offering a brief respite for consumers amid global oil market fluctuations. The price of petrol stands at ₹94.72 per liter, while diesel is priced at ₹87.62 per liter. These rates have been consistent over the past few weeks, providing a welcome relief for many consumers. However, there remains a concern about 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 …

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other details
6 months, 4 weeks 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, 4 weeks 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
8 months, 1 week 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 …

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5
9 months, 2 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 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 …

Crude oil price dips 38 percent but benefit not passed on to consumers: Congress
11 months, 1 week 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
11 months, 2 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 …

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

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 …

Crude price rise: Anand Rathi initiates coverage on ONGC, Oil India
1 year, 2 months 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’ …

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 …

Pakistan's petrol, diesel prices cross Rs 300-mark for the first time in history
1 year, 4 months ago

Pakistan's petrol, diesel prices cross Rs 300-mark for the first time in history

India Today  

Amid the outcry over soaring electricity charges in Pakistan, the prices of petrol and diesel in the country have crossed the Rs 300 mark for the first time in history, adding to the worries of people reeling under the grim economic situation. The caretaker government, under Prime Minister Anwaarul Haq Kakar, increased the prices of petrol and high-speed diesel on …

ECONOMIC PERSPECTIVES | On oil’s slippery slope: India’s goods exports struggle to stem decline
1 year, 5 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 …

Falling oil prices may not ease inflation
1 year, 6 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 …

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 …

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 …

Petrol, diesel prices in India will go down when... I Officials revealed all DETAILS
1 year, 7 months ago

Petrol, diesel prices in India will go down when... I Officials revealed all DETAILS

India TV News  

Margins on petrol and diesel have turned positive following softening of international oil prices but a revision in retail prices may happen only after state-owned oil firms recoup losses they incurred last year, officials said. State-owned Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd have temporarily abandoned the daily price revision since last year and have …

Eye on oil: on oil prices and India
1 year, 7 months ago

Eye on oil: on oil prices and India

The Hindu  

The world’s largest grouping of crude oil producers, commonly known as OPEC+, agreed on Sunday to extend ongoing production cuts into 2024 as it seeks to keep oil prices from falling amid concerns about a global economic slowdown. OPEC major and leading producer Saudi Arabia also voluntarily vowed to reduce output by an extra 1 million barrels per day in …

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 …

Windfall tax on crude oil returns amid price surge
1 year, 8 months ago

Windfall tax on crude oil returns amid price surge

Live Mint  

New Delhi: The Central Board of Indirect Taxes and Customs has re-introduced the windfall tax on crude oil a fortnight after bringing it down to zero. Since India follows trade parity pricing of crude oil and petrol, producers of crude oil and refineries that sell finished products realise global prices in the local market. So windfall tax on profits of …

Petrol and diesel prices on April 10. Check prices in your city
1 year, 9 months ago

Petrol and diesel prices on April 10. Check prices in your city

Hindustan Times  

The cost of petrol and diesel in India remained stagnant on Monday, continuing a ten-month trend of price stability. Prices were last revised in May 2022 after the Finance minister Nirmala Sitharaman announced to slash the excise duty on petrol and diesel by ₹8 per litre and ₹6 per litre, respectively. The government controls the fuel prices through excise duty, …

How India can minimise the damage from OPEC+ production cuts
1 year, 9 months ago

How India can minimise the damage from OPEC+ production cuts

Live Mint  

The Organisation of Petr​​oleum Exporting Countries and its oil-producing allies such as Russia and Azerbaijan, collectively known as OPEC+, have decided to cut oil production by 1.15 million barrels a day. While OPEC takes the flak for higher oil prices with its publicised production cuts – the second since last October – another culprit escapes attention: US shale producers. While …

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, …

KTR slams Centre over high fuel prices
1 year, 9 months ago

KTR slams Centre over high fuel prices

Deccan Chronicle  

Hyderabad: BRS working president and minister K.T.Rama Rao slammed the BJP-led government at the Centre for the sharp increase in fuel prices, accusing it of "looting" people while also calling for an apology from the Narendra Modi government to the country. In a letter to the Centre on Thursday, Rama Rao accused the BJP government of imposing a financially unsustainable …

Congress asks the government why it can’t pass on the benefit of lower crude prices to consumer
1 year, 9 months ago

Congress asks the government why it can’t pass on the benefit of lower crude prices to consumer

The Hindu  

Attacking the government over prices of petrol and diesel, the Congress on Wednesday asked why the Narendra Modi government has not passed on the benefit of reduction in international crude oil prices to consumers. Addressing a press conference, Congress spokesperson Gourav Vallabh also asked besides the public sector refineries, which private refineries benefited from cheaper Russian crude oil and at …

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 …

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report
1 year, 9 months ago

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report

News 18  

Prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies have to recover accumulated losses of Rs 18,000 crore due to high crude prices in earlier quarters, according to a CNBC-TV18 report quoting sources. Petrol prices in India have been stagnant since May 2022, when Finance Minister Nirmala Sitharaman reduced the prices …

Pakistan Increases Petrol Price by Rs 5, Diesel Sees Hike of Rs 13. Check Details
1 year, 9 months ago

Pakistan Increases Petrol Price by Rs 5, Diesel Sees Hike of Rs 13. Check Details

News 18  

The Pakistan government on Wednesday increased the prices of petrol and diesel by Rs 5 and Rs 13 per litre, respectively. With the latest increase, petrol will now cost Rs 272 per litre whereas high-speed diesel will cost Rs 293 per litre in the cash-strapped nation. The cost of kerosene has also jumped to Rs 190.29 per litre while the …

Explained: Why India’s fuel demand is rising?
1 year, 10 months ago

Explained: Why India’s fuel demand is rising?

Live Mint  

Fuel demand in India hit its highest level in at least 24 years in February, according to data showed on Thursday. Viktor Katona, lead crude analyst at Kpler said that the strength highlights a combination of profitable refining from record Russian crude imports in February, total utilization for primary distillation across India, and still-robust domestic consumption. India expects fuel demand …

Amid economic crisis, Pakistan revises prices of petrol, diesel
1 year, 10 months ago

Amid economic crisis, Pakistan revises prices of petrol, diesel

India Today  

Amid an ongoing economic crisis, prices of petroleum products in Pakistan were notified by the country's finance minister on Tuesday. The price of kerosene oil in Pakistan has been reduced by Rs 15 and will now cost Rs 187.73 per litre, the finance minister said. Further, Pakistan's Finance Minister Drar said there were no changes in the prices of high-speed …

Why petrol prices have reached an all-time high in cash-strapped Pakistan
1 year, 11 months ago

Why petrol prices have reached an all-time high in cash-strapped Pakistan

Firstpost  

Pakistan is facing one of its worst economic crises. After the hike, petrol would cost Rs 249.80 per litre, high-speed diesel Rs 262.80 per litre, kerosene oil Rs 189.83 per litre and light diesel oil Rs 187 per litre. High Speed Diesel-Rs 262.80 per litre MS Petrol —Rs 249.80 per litre Kerosene Oil -Rs 189.83 per litre Light Diesel Oil …

Pakistan hikes petrol price by Rs 35; minister calls it 'minimum' increase I Check prices here
1 year, 11 months ago

Pakistan hikes petrol price by Rs 35; minister calls it 'minimum' increase I Check prices here

India TV News  

Pakistan increases petrol prices: As Pakistan grapples with the worst-ever economic turbulence-- with inflation and unemployment rate touching a record high-- the government has now announced to increase the oil prices by a "minimum" of Rs 35 per litre. While addressing the nation in a video message, Finance Minister Ishaq Dar on Sunday morning said that the increase in prices …

Why dipping oil price may not mean cheaper fuel
2 years ago

Why dipping oil price may not mean cheaper fuel

Live Mint  

New Delhi: Oil prices that shot up after Russia invaded Ukraine in March plunged as low as $76.1 early December, bringing cheer for the economy. Crude oil prices which touched rock-bottom when the covid pandemic broke out in 2020 have gained steadily since then, as the world made progress in the battle against the coronavirus. With the global economy slowing …

Petrol Prices Above Rs 100 In Mumbai, Kolkata, Chennai; Check Today's Fuel Rates Here
2 years, 1 month ago

Petrol Prices Above Rs 100 In Mumbai, Kolkata, Chennai; Check Today's Fuel Rates Here

News 18  

Fuel prices in the major cities of India remained unchanged for yet another day despite the ongoing fall in crude oil prices in the international market. In New Delhi, a litre of petrol costs Rs 96.72, whereas diesel is being sold at Rs 89.62 per litre. 96.72 per litre Diesel: Rs. 87.89 per litre Lucknow Petrol: Rs.Rs 96.57 per litre …

BJP\'s loot continues even when global crude oil price fall: Cong on high fuel rates
2 years, 1 month 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 …

Petrol, diesel prices today, 15 November 2022: Check rates in Delhi, Mumbai, and other Indian cities
2 years, 2 months ago

Petrol, diesel prices today, 15 November 2022: Check rates in Delhi, Mumbai, and other Indian cities

Firstpost  

In the international market, crude oil prices fell in early Asian trade today, 15 November after OPEC slashed its 2022 global demand forecast. Brent crude futures dropped by 39 cents to stand at $92.75 per barrel, while U.S. West Texas Intermediate crude fell by 56 cents to $85.31 per barrel. The rates of petrol and diesel in Delhi currently stand …

Petrol, diesel prices today, 8 November 2022: Check rates in Delhi, Mumbai and other cities
2 years, 2 months ago

Petrol, diesel prices today, 8 November 2022: Check rates in Delhi, Mumbai and other cities

Firstpost  

In the international market, oil prices were fluctuating today, 8 November, as supply worries offset recession fears and China’s commitment to its zero-COVID policy. The last major country-wide fluctuation in the prices of fuel was reported in May, which came after the Centre cut excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per …

How are fuel prices decided in India? MintGenie explains
2 years, 2 months ago

How are fuel prices decided in India? MintGenie explains

Live Mint  

Sometimes one might wonder that despite low crude oil costs, why do fuel prices increase? In addition, the charge of processing the crude oil to make a particular fuel called ‘Refinery Transfer Price’ is levied by the corporation. After the fuel is refined and the final product is ready to be sold in the market, these oil marketing companies sell …

High gas prices: How India's gas economy works
2 years, 2 months ago

High gas prices: How India's gas economy works

Live Mint  

Earlier this month, the government raised domestic gas prices to a historic high, on the back of a seven-fold increase in international prices of liquefied natural gas over the past two years. Global gas prices are now critically dependent on how quickly European demand for natural gas for its heating and other requirements are satisfied. Invesco to sell 5.5% Zee …

Oil price rise in India is way below global price hikes: Hardeep Singh Puri
2 years, 3 months ago

Oil price rise in India is way below global price hikes: Hardeep Singh Puri

Deccan Chronicle  

Washington: Union Petroleum and Natural Gas minister Hardeep Singh Puri said that compared to fuel price hikes globally, India only raised prices by 2 per cent, which is way below that of other countries. In terms of gas, global benchmarks went up by 260-280 per cent and our own ability to contain gas price increases was something around 70 per …

Oil price rise in India is way 'below' global price hikes: Petroleum Minister Hardeep Singh Puri
2 years, 3 months ago

Oil price rise in India is way 'below' global price hikes: Petroleum Minister Hardeep Singh Puri

India TV News  

Highlights Hardeep Singh Puri said that compared to fuel price hikes globally, India only raised prices by 2% If increases in North America are 43-46%, India allow prices to go up by only 2% or so: Puri Puri also highlighted India is one of the largest oil importers and the demand is expected to rise Oil price rise in India: …

Oil prices fall on rate hike fears, demand concerns
2 years, 4 months ago

Oil prices fall on rate hike fears, demand concerns

Live Mint  

NEW DELHI: Global crude oil prices fell in early deals on Monday in anticipation of interest rate hikes by the US Federal Reserve and European Central Bank to tame rising inflation. Ravindra Rao, head of commodity research at Kotak Securities, said, “NYMEX crude trades over 1% lower weighed down by demand concerns amid China’s virus spread. Crude may remain volatile …

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