Petrol and diesel prices on Sunday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre. The price of petrol in Delhi rose to its highest-ever level of Rs 105.84 a litre and Rs 111.77 per litre in Mumbai, according to a price notification of […]
Category: Oil & Gas
Buyers may go for cars with lower running costs as fuel prices spike: Study
With fuel prices going up by 35 per cent over the past 15 months thereby impacting overall vehicle running costs, cars that have higher fuel efficiency and lower maintenance costs are expected to gain higher traction among buyers in India, specially in the sub-Rs 10 lakh category, according to a report. Considering the fact that […]
Accelerate action to achieve net zero transport emissions: UN summit
The Second UN Global Sustainable Transport Conference, which brought together more than 100 countries along with thousands of experts, activists and business leaders, concluded with a call to accelerate progress towards achieving sustainable transport that would result in major reductions in greenhouse gas emissions and in improving the lives of millions of people. At the […]
Petrol, diesel price hiked again; cost 30% more than ATF
Petrol and diesel price on Sunday was hiked again by 35 paise a litre and the auto fuels now cost a third more than the rate at which ATF is sold to airlines. The fourth straight day of 35 paise per litre hike sent petrol and diesel rates to record highs across the country. The […]
Oil alarm: India’s oil import bill at 67% of FY21 in just 5 months of FY22
The sharp economic recovery and rising demand post the second wave of Covid coupled with a spike in global oil prices may pose a challenge for the government in FY22 to maintain fiscal discipline amid good growth in tax revenue. Country’s crude oil Import bill that fell drastically last year in the absence of demand […]
Govt to decide on petrol tax cut after reviewing state’s economy: Bommai
Karnataka Chief Minister Basavaraj Bommai on Sunday said that the government will decide on reducing the petrol price by effecting a tax cut, after reviewing the state’s economy. “I have already said, it is dependent on the economy, after the by-polls I will review the economy, at that time if the economy has improved, there […]
Sri Lanka seeks $500 million loan from India for fuel purchase
Sri Lanka has sought a USD 500 million credit line from India to pay for its crude oil purchases amid a severe foreign exchange crisis in the island nation. The move came few days after energy minister Udaya Gammanpila warned that the current availability of fuel in the country can be guaranteed only till next […]
Sril Lanka seeks $500 million loan from India for fuel purchase
Sri Lanka has sought a USD 500 million credit line from India to pay for its crude oil purchases amid a severe foreign exchange crisis in the island nation. The move came few days after energy minister Udaya Gammanpila warned that the current availability of fuel in the island nation can be guaranteed only till […]
OVL has right to 30% stake in Iranian gas field, say officials
An Indian consortium led by ONGC Videsh Ltd contractually has a right to take a 30 per cent interest in the Farzad-B gas field development in the Persian Gulf even after Iranian decision to award rights of the giant field to a local firm, top officials said. In February, 2020, National Iranian Oil Company (NIOC) […]
Fuel prices hiked for third consecutive day; petrol crosses Rs 105 mark
Petrol and diesel prices continued to rise across the country for the third consecutive day on Saturday. In Delhi, petrol and diesel prices were raised by Rs 0.35 to Rs 105.49 per litre and Rs 94.22 per litre respectively. For the third consecutive day, the rates of petrol and diesel were increased by Rs 0.35 […]
Oil prices rise on tight supply, set for weekly gain of more than 2%
MELBOURNE (Reuters) – Oil prices climbed on Friday, heading for gains of more than 2% for the week, on increasing signs of tight supply over the next few months as rocketing gas and coal prices stoke a switch to oil products. U.S. West Texas Intermediate (WTI) crude futures rose 30 cents, or 0.4%, to $81.61 […]
Fuel rates hiked again, petrol, diesel prices at highest ever levels
Petrol and diesel prices on Friday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre. The price of petrol in Delhi rose to its highest-ever level of Rs 105.14 a litre and Rs 111.09 per litre in Mumbai, according to a price notification of […]