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Fuel price cut hopes rise as crude oil prices drop to lowest since January

A huge drop in crude oil prices have rekindled hopes in India of a possible reduction in fuel prices. .....

Nov 29, 2022

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Record fuel price hike due to spike in oil prices during last couple of weeks: FM

The basket of crude oil that India buys averaged USD 100.71 per barrel that day as compared to USD 82 in early November 2021 when state-owned fuel retailers hit the pause button on daily price revision. .....

Mar 31, 2022

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India contained fuel price rise, developed nations saw a jump: Govt

The Ministry of Petroleum and Natural Gas has inked contracts for 31 Discovered Small Fields (DSF) blocks under DSF bid round-III and four CBM blocks under CBM bid round V awarded to 14 exploration and production domestic companies. .....

Sep 10, 2022

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Oil minister praises OMCs for fuel price cut, says further revisions to depend on market condition

This statement came after the OMCs, including Indian Oil Corporation (IOC) reduced the fuel prices by Rs. 2 from March 15, 2023, an action Puri praised as a "courageous move" amidst the unpredictable global crude oil prices. .....

Mar 18, 2024

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Oil minister Puri denies fuel price reduction talks, says "focus on energy investment, not cuts"

In a firm response to speculative media reports, Puri stated, "I have clarified there has been no discussion with OMCs on any such issues. We are in a very highly turbulent situation. There are two areas on the global map which are in conflict situa.....

Jan 04, 2024

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Despite global surge, India maintains stable fuel prices over two years

While places like Italy and Spain saw petrol prices reach a staggering ₹166.25 and ₹144.18 respectively in September 2023, India managed to keep its petrol and diesel costs considerably lower, pegging at ₹96.72 and ₹88.92 res.....

Oct 13, 2023

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Jet fuel prices reduced by 2.3 per cent to Rs 1.17 lakh per kilolitre

The rate reduction, which will provide relief to airlines for whom fuel makes for almost 40 per cent of the operating cost, comes on the back of a Rs 4,842.37 per kl, or 4.19 per cent, reduction last month. .....

Dec 02, 2022

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Fuel price hike: Why is the daily increase 80 paise?

Beginning March 22, oil marketing companies have increased the prices on 13 of the last 15 days, almost every time by 80 paise. With the 80-paise increase on April 5, the total increase stands at Rs 9.20 per litre. .....

Apr 06, 2022

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No news from petrol pump, fuel prices unchanged for 6th straight day

The fall in the benchmark prices have been triggered by a combination of factors easing apprehensions over the market tightening further. .....

Apr 12, 2022

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Refiners likely to start reducing fuel prices soon as margins improve

State-run oil marketing companies (OMCs) are likely to cut fuel prices soon, as the government expects them to start passing on the benefit of lower crude oil prices to the customers. .....

Jun 09, 2023

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