Oil & Gas articles

Petrol prices rise over Rs 3 per litre in 12 days

Petrol prices across the four metros increased by over Rs 3 per litre in 12 days after dynamic pricing system was resumed on May 14, data on the Indian Oil Corp (IOC) website shows. In the national capital, petrol prices rose Rs 3.20 per litre during the period and was sold at Rs 77.83 per

Nitin Gadkari advocates bringing fuel under GST

With petrol and diesel rates skyrocketing on a daily basis, Road Transport and Highways Minister Nitin Gadkari on Friday advocated bringing fuel under the GST to curb the price hike. “Petrol and diesel should have been brought under the Goods and Services Tax. I asked officials during a presentation if we bring fuel prices under

Petrol almost Rs 85 a litre in Mumbai, crosses Rs 80 in Chennai

The petrol price in India’s financial capital Mumbai touched Rs 84.99 a litre on Wednesday. Petrol prices in Mumbai, Delhi and Chennai have already reached unprecedented levels, and are now setting a new benchmark every other day. In Chennai, price of the fuel breached the Rs 80 a litre mark on Wednesday and was priced

Government should review taxes on petrol, diesel: HPCL chairman

There is a need to review taxation on petrol and diesel to provide relief to consumers after rates touched an all-time high, HPCL Chairman and Managing Director Mukesh Kumar Surana said today. One trigger after another has led to the 10th consecutive day of increase in retail selling price of petrol and diesel, but there

HPCL, Mangalore Refinery merger in FY’19: CMD Mukesh Kumar Surana

HPCL is keen to takeover Mangalore Refinery and Petrochemicals Ltd (MRPL) before the end of 2018-19 financial year as there are a lot of synergies arising from the merger, Chairman and Managing Director Mukesh Kumar Surana said today. Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas producer, earlier this year completed the

Petrol price highest ever in Chennai; up 30 paise across metros

After reaching unprecedented highs in Delhi and Mumbai, petrol prices touched a record high in Chennai, at Rs 79.79 per litre on Tuesday. With this, the fuel price breached its previous record of Rs 79.55 in the city, hit in September 2013. Across the four metropolitan cities, prices rose around 30 paise on Tuesday. In

ONGC, Oil India face risk of subsidy sharing: Moody’s

As oil prices rise, Moody’s Investors Service said state-owned oil producers ONGC and Oil India Ltd face increasing risk of the government once again requiring them to share the fuel subsidy burden. Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) had for more than 13 years paid as much as 40 per

Petrol prices highest ever in Delhi, Mumbai

Spiralling petrol prices touched fresh record levels in Delhi and Mumbai on Monday, at Rs 76.57 and Rs 84.40 per litre respectively. On Sunday, the fuel price breached the all-time high levels touched in 2013 and was priced at Rs 76.24 and Rs 84.07 per litre in both the cities. On Monday, in the other