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Oil prices
Oil prices News
Oil prices
22 May 2024
India To Gain As Global Oil Prices Decline Despite Geopolitical Tensions
Russia has now emerged as the largest supplier of crude oil to India replacing Iraq and Saudi Arabia which occupied the top slot earlier.
Oil prices
29 Dec 2023
Oil Prices To Go Down? Here's What Industry Sources Are Saying
The current dip in international crude oil prices is a key factor influencing the decision to cut fuel prices in India.
Oil prices
09 Aug 2022
India saw 6.1% y-o-y rise in fuel demand in July
India's fuel demand rose 6.1% y-o-y in July, as per PPAC. Cooking gas or LPG sales increased by 1.7%. Gasoline or petrol sales were 6.8% higher from last year.
WPI inflation
14 Jun 2022
WPI inflation spikes to record 15.88% in May on costlier food items, crude oil
The WPI inflation has remained in double digit for the 14th consecutive month since April last year and has been in the upper trajectory for three straight months.
Oil prices
06 May 2022
Oil rises 1%, set for another weekly rise on supply concerns
Brent futures rose $1.43, or 1.3%, to $112.31 per barrel by 1:24 p.m. WTI was on track to gain about 6% and Brent set to rise nearly 4% this week. Demand concerns on signs of a weakening global economy capped the price rise.
DNA Video
27 Apr 2022
DNA: Why PM Modi had to speak on petrol and diesel prices?
Today, Prime Minister Narendra Modi appealed to many states of the country to reduce VAT to reduce oil prices. However, these are the state governments where there are often protests against expensive oil prices.
Indonesia
22 Apr 2022
Indonesia bans palm oil export, world to face the jitters
Indonesia has banned the export of palm oil from April 28. The decision has been taken to control skyrocketing domestic prices and ensure availability of food products at home. Indonesia is the world’s biggest exporter of palm oil.
natural gas
17 Apr 2022
Oil Ministry freezes gas allocation, prices of CNG, PNG spike: Report
The halt has led to a hike in CNG and piped cooking gas prices to record levels. Current supplies have been maintained at March 2021 demand level, report said.
Edible oil
31 Mar 2022
Stock limit on edible oils, oilseeds extended up to Dec 31
A notification from the Ministry of Food, Consumer Affairs and Public Distribution's Department of Food and Public Distribution published on Wednesday, extended the date from March 31 to December 31.
Crude Oil
22 Mar 2022
Oil mixed as dollar rises, EU looks less likely to ban Russian oil
A strong dollar makes crude more expensive for other currency holders and tends to weigh on risk appetite. Earlier this month, Brent hit $139 a barrel, the highest since 2008. Oil prices drew support from threats to supply as Yemen`s Iran-aligned Houthi group attacked Saudi energy and water desalination facilities.
Oil prices
21 Mar 2022
Oil prices up more than $4 as EU considers Russian oil ban
EU governments will consider whether to impose an oil embargo on Russia. Brent crude futures were up $4.44, or 4.1%, at $112.37 a barrel by 1321 GMT, adding to a 1.2% rise on Friday.
Uber
12 Mar 2022
Uber adds fuel surcharge due to high gas prices, check if you have to pay more
The temporary fee is designed to reduce the burden of high gas prices. The fee is temporary but lasts for at least the next 60 days. The company said that drivers who switch to EVs can enjoy higher earnings potential due to Uber`s Green Future Programme.
Oil prices
11 Mar 2022
Centre making efforts to check rise in edible oil, fuel prices
Central government is making efforts to check the rise in edible oil and fuel prices.
Oil prices
08 Mar 2022
Petrol, diesel rates remain unchanged across cities even as crude oil boils
The central government reduced excise duty on November 4, 2021, to provide relief from historically high prices. The government reduced the duty on petrol by Rs 5 per litre and on diesel by Rs 10 per litre, resulting in significant reductions in fuel prices. Later, in December 2021, the Delhi government cut the value-added tax on petrol from 30% to 19.40%.
Oil prices
07 Mar 2022
Oil price soars on talks about Russia oil ban, Iran deal delay
Global oil prices have spiked more than 60% since the start of 2022, along with other commodities, raising concerns about world economic growth and stagflation. Russia is Japan`s fifth-biggest supplier of crude oil and liquefied natural gas (LNG). Iran will take several months to restore oil flows even if it reaches a nuclear deal, analysts said.
Petrol
07 Mar 2022
Petrol, diesel prices to go up from tonight? Here's what you need to know
To combat growing inflation, the central government could lower the excise on fuel and diesel by Rs 3 or Rs 4. As a result, the price of petrol in India might rise from Rs 10 to Rs 16 per litre. Simultaneously, diesel prices may rise by Rs 8 to 12 per litre.
Russia-Ukraine conflict
07 Mar 2022
Know how much oil US imports from Russia
US exploring banning Russian oil import. Intensifying conflict between Russia and Ukraine. US got 3.5% of imported oil from Russia in 2021.
Gold prices
04 Mar 2022
Gold gains Rs 75, oil jumps toward $115
Brent crude reached a high of $114.98 per barrel and was up $4.44, or 4%, at $114.90 by 1300 GMT. Crude oil touched a decade high this week, and prices are on track for their best weekly increases since the middle of 2020, with the US benchmark up more than 21% and Brent up 17%. Oil prices are rising on concerns that Western sanctions over the Ukraine war could impede shipments from Russia, the world's largest crude and oil product exporter combined.
Oil prices
01 Mar 2022
Oil prices soar as Ukraine conflict stokes supply concerns
The benchmark touched a seven-year high of $105.79 after the invasion began last week. U.S. West Texas Intermediate (WTI) April crude futures were up $4.14, or 4.33%, at $99.86 a barrel after hitting its highest level since July 2014 at $101.53. Russia said on Tuesday its forces had cut off the Ukrainian military from the Sea of Azov north of the Black Sea.
Crude Oil
26 Feb 2022
Crude oil at $100 per barrel, Govt may release Strategic Petroleum Reserves
At present Indian refiners hold crude oil reserves of 64.5 days. In addition to that, India also holds 39.62 million barrels of crude oil through its Strategic Petroleum Reserve body ISPRL. Cumulatively at present India has oil storage for 74 days.
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