Category: Oil & Gas

A team of the Dharampur police found a cache of LPG cylinders stacked without any licence or permit at a godown at Badhal village on the Kumarhatti-Nahan road last evening.

After hike in rates of petrol, diesel and LPG, the prices of CNG and cooking gas piped to household kitchens (PNG) in the national capital were hiked on Thursday by Re 1.

Already burdened by the gradual price rise of grocery items, people are worried over the LPG price hike by Rs50 as they say it will put an extra financial stress on their kitchen budget.

Rating agency Fitch on Tuesday slashed India’s growth forecast for the next fiscal to 8.5% from 10.3%, citing soaring energy prices and rising inflation on account of the Russia-Ukraine war.

The government’s decision to hike the price of diesel has come as a jolt for bulk users. They have never witnessed such a huge jump in diesel price before and that too just for the industry, which uses thousands of litres of fuel on daily basis.

Petrol and diesel prices were on Tuesday hiked by 80 paise a litre while domestic cooking gas prices were increased by Rs 50 per cylinder, ending an over four-and-half month election-related hiatus in rate revision, sources said.

Petroleum and Natural Gas Minister Hardeep Singh Puri today allayed fears of short supply of crude oil amid the Russia-Ukraine conflict, as he informed the Rajya Sabha that the import of fossil fuel from Russia has been miniscule at just 0.2 per cent of total import requirement of the country till January this financial year. […]

The Government has hit out at alarmist reports on its oil companies purchasing Russian crude and thereby allegedly sabotaging western efforts to isolate Moscow.

The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said.

India sought to turn the tables on expressions of dismay and regret from western circles over New Delhi’s plan to buy Russian oil.

India’s legitimate energy transactions should not be politicised and countries self-sufficient in oil or those themselves importing from Russia cannot credibly advocate restrictive trading, government sources said on Friday.

Jet fuel prices on Wednesday were hiked by over 18% — the steepest ever increase — to all-time high levels after international oil price surged to a multi-year high. The increase — sixth straight this year — led to prices soaring past the Rs 1-lakh-per-kilolitre mark for the first time ever.