International Oil Prices

Govt to gain Rs 1.6 lakh cr additional revenues this fiscal from record excise duty hike on petrol, diesel

The cash-strapped government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record increase in excise duty on petrol and diesel, that will help make up for revenue it lost in a slowing economy and shutting down of businesses due to coronavirus lockdown

Meghalaya govt increases taxes on auto fuel; petrol to cost Rs 74.90 per litre, diesel at Rs 67.50

The Meghalaya government has increased taxes on petrol and diesel from Wednesday amid the nationwide lockdown and plunging crude oil prices, officials said on Wednesday

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost

State-owned ONGC has asked the government to waive payment of oil cess and royalty as plummeting international oil prices have meant that the rate it now gets does not even cover the operating cost, sources said

Aviation turbine fuel price hiked by 8.1%, cost still less than petrol, diesel

Jet fuel price was hiked Friday by a steep 8.1 percent to its costliest level this year as international oil prices rose, state-owned oil firms said

Petrol price slips below Rs 74-mark in Delhi for first time since April; six-week long rate cut wipes off all fuel hikes

Petrol price in Delhi was cut by 50 paisa to Rs 73.57 per litre, according to a price notification issued by state-owned fuel retailers. This is the lowest petrol price since April.

Petrol price cut by 22 paise per litre in Delhi on Monday; total reduction reaches Rs 4.27 in 19 days on softer international oil rates

Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on 4 October.

Petrol price cut by Rs 2 per litre, diesel by Re 1 in last eight days on softening of crude oil rates

In Delhi, petrol now costs Rs 80.85 per litre and diesel is priced at Rs 74.73 a litre

Airline stocks fly high, gain up to over 7% after government cuts excise duty on jet fuel

Shares of InterGlobe Aviation (IndiGo) zoomed 7.44 percent, Jet Airways soared 4.70 percent and SpiceJet 4.69 percent on BSE.

Fuel rates: Petrol, diesel prices hiked for first time in over a month on higher crude oil prices and weakening rupee

The increase of 16 paisa a litre in petrol and 12 paisa per litre in diesel came after an 8-day self-imposed hiatus in rate revisions by state-oil firms in anticipation of softening international rates due to OPEC decision to raise output by 1 million barrels per day

Oil minister Dharmendra Pradhan to press for 'responsible crude pricing' at upcoming OPEC meeting

Retail prices of petrol and diesel are ruling at Rs 75 a litre and Rs 68 a litre amid the global surge in crude prices.