Losses of state-run OMCs to ease amid lower crude oil prices: Moody's
India's windfall tax on exports of locally-produced oil has helped reduce the state-owned refining and marketing companies' marketing losses, says Moody's.
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Govt slashes windfall tax on domestic crude oil, exports of diesel; here’s how oil stocks reacted
On July 1 this year, the Indian government joined a group of nations that imposed a windfall tax on crude oil owing to soaring energy prices.
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.
HPCL shares fall 5% post Q2; should you buy the dip?
HPCL posted a back-to-back quarterly loss amid continued decline in margins due to a freeze on retail prices of petrol and diesel.
Govt slashes windfall taxes on diesel, jet fuel; oil stocks surge
In the sixth round of revision, the windfall tax on domestic crude oil has been slashed by 24% to ₹8,000 per tonne from ₹10,500.
Oil stocks Reliance, ONGC, Adani Gas, IOC fall up to 5%; here’s why
Shares of ONGC, Reliance, Adani Total Gas, Indraprastha Gas, CPCL, and MRPL saw selling pressure after the govt revised the windfall tax on crude oil
Windfall tax: Centre cuts levy on crude oil export to ₹13,000/tonne
The govt increases the export levy on diesel to ₹7 per litre from ₹5 per litre. The ₹2/litre export tax on aviation turbine fuel imposed again
Rupee devaluation hits ability to buy goods, services, petrol, diesel
Around 76% of respondents to a survey say they will be able to afford less in coming years as higher import costs will get reflected in products they buy
Centre hikes customs duty on gold to 15%, imposes cess on fuel, ATF exports
FinMin remains silent on additional revenue these tweaks will rake in, but it points out these measures will not impact domestic prices of petrol, diesel and ATF
Fuel duty cuts will contain inflation, worsen fiscal balance: Nomura
Nomura says the impact of fuel excise duty cut is not enough to change their CPI inflation projection for FY23, but its impact on fiscal deficit is more certain.
