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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Petrol, diesel to be cheaper by ₹2 from today
Reduced petrol and diesel prices will benefit the citizens through more disposable income, says government
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.
Punjab hikes VAT on petrol, diesel; check latest fuel prices
Despite a steady fall in global crude oil prices, fuel prices have not reduced for retail customers in India since last year
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.
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.
Centre to bear burden of excise duty cut on petrol, diesel: Nirmala Sitharaman
Basic excise duty which is shared with states has not been touched, says FM.
Fuel tax cut necessary to restart consumption: CII President Sanjiv Bajaj
Bajaj calls for collaborative efforts of state and the central governments in cutting taxes.
Petrol in India costlier than Pakistan, China, US
Countries which have a lower per capita income like Kenya, Bangladesh, Nepal, Pakistan, and Venezuela have much lower prices of petrol.
