Oil stocks tank up to 8% after cut in petrol, diesel prices; HPCL, BPCL, IOCL, GAIL, ONGC lead fall
OMCs have slashed petrol and diesel prices across the country by ₹2 per litre for the first time in two years since April 2022.
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No relief on petrol, diesel, LPG despite lower price of crude: Congress
It may be noted that the WPI based inflation in May 2023 contracted 3.48% year-on-year compared with 0.92% contraction in April 2023.
Petrol prices rose 19%, diesel by 26.5% in 2 yrs: Govt
State-run oil marketing companies have booked a combined loss of ₹27,276 crore in the first six months of the ongoing financial year, says Union minister Hardeep Puri.
Petrol, diesel prices to rise after OPEC oil production cut
OPEC Plus – a grouping of 23 oil-rich countries -- is meeting in Vienna on Wednesday to discuss a major production cut for the first time since March 2020.
States should cut VAT on petrol, diesel: PM Modi
States like Maharashtra, West Bengal, Telangana, Andhra Pradesh, Tamil Nadu, Kerala, and Jharkhand didn't reduce VAT on petrol and diesel in November last year.
Brent crude nears $140 as US weighs ban on oil imports from Russia
State-run oil marketing companies in India have yet to hike retail prices of petrol and diesel.
42% Indians can't afford petrol, diesel price hike; 24% on edge of economic precipice
The petrol and diesel prices have not been revised since the central government reduced the excise duty on the two fuels in November 2021.
Russia-Ukraine tensions to shatter India's crude economics
Reliance Industries (RIL), Indian Oil Corporation, Hindustan Petroleum Corp and Bharat Petroleum Corp will have to cough up more to buy the expensive crude.
Budget 2022: Unblended petrol, diesel to cost ₹2 more from October 1
The present percentage of blending of bio-diesel in diesel was less than 0.1% and that of average ethanol blending percentage in petrol was 8% as of July 26.
Budget 2022: Fuel subsidy withdrawal crashes bill
Petrol, diesel prices have been passed on to consumers and not subsidised, raising fuel prices to all-time high in many parts of the country.
