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Oil prices fell sharply on Monday, to four week low, weighed by easing fears of a Middle East war after an Israeli strike against Iran, over the weekend
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Tue, Oct 01, 2024
Brent crude slipped below $70, Brent crude fell by about 2.5%
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Tue, May 22, 2018
It needs to be noted that for the Indian government, fuel is a major generator of revenue and that is why the authorities have been reluctant to provide relief.
So far, Brent crude has shoot up to near $79 per barrel. Retail prices have shot up to record highs, but Indian government has ruled out the possibility to ease excise duty. States too are reluctant to cut Value Added Tax. To add to the woes of consumers, the rupee has been hovering near 68-mark against US benchmark dollar index.
Mon, May 21, 2018
In Mumbai, petrol price is available at Rs 84.40 per litre and diesel price is Rs 72.21 per litre. Both are at record high.
It needs to be noted that, the OMCs have started hiking petrol prices from May 14 onward, for the first time since April 24 after the conclusion of the Karnataka election voting.
Many expected the Karnataka poll to bring in some good news over diesel prices, but that possibility did not come to pass.
On Monday, petrol price was hiked in the range of 33 paisa to 34 paisa per litre, also now consumers will pay over Rs 74 per litre in Mumbai, Rs 79 per litre each in Chennai and Kolkata.
Sun, May 20, 2018
Compared to petrol price on Sunday, the state-owned OMCs decided to hike diesel rates at much lower rate in various state capital of India.
India have taken a new turn when it comes to fuel prices, as each coming day we are paying a higher amount for fuel and no relief is looming on the horizon as the government is refusing to step in to cap them.
Sat, May 19, 2018
Many expected the Karnataka poll to bring in some good news however, even the prospect of an NDA government coming to power has failed to ease diesel prices.
Controlling the rise of petrol prices has become crucial for the NDA government as 2019 election looming.
Fri, May 18, 2018
The Brent crude price rising over $80 per barrel in the international market on Thursday is making economists jittery about Indian macros and rupee.
The cost of Asia`s growing thirst for oil will surpass $1 trillion this year, about twice as much as in 2015 and 2016, as oil prices touch $80 per barrel and continental demand hits a record. Oil prices have risen nearly 20 percent since January and topped $80 per barrel in intraday trading on Thursday for the first time since 2014.
Wed, May 16, 2018
The OMCs have started hiking petrol prices from Monday onward for the first time since April 24 after the conclusion of the Karnataka election.
Rising crude oil, coupled with Indian government ruling out excise duty cuts and various states’ being reluctant in reducing the VAT on fuel prices, has left limited room for OMC to make any relaxation in the price of the product, especially diesel, which is currently at a record high.
Tue, May 15, 2018
In Karnataka, BJP ahead in 119 seats, JDS leading in 46 seats, while Congress leads in 60 seats near 11 am.
Today in various state capitals, petrol price was hiked between 17 paisa to 18 paisa per litre; in Mumbai, rate has been near Rs 83 per litre.
Mon, May 14, 2018
Today, Kolkata saw a gradual hike in diesel price, whereas cities like Mumbai, Chennai witnessed massive ones. Also even share price of New Delhi jumped over Rs 66 per litre.
Today in various state capital the petrol price was hiked between 17 paisa to 18 paisa per litre, especially in Mumbai, where the price has been near Rs 83 per litre.
Sun, May 13, 2018
India gave up on petrol, diesel subsidy and linked prices to the international markets in hope that consumers will benefit as crude oil prices were trading at a third of their lifetime highs. It was also directed at getting rid of massive subsidies on the fuels.
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