Fuel Prices on September 15: Check petrol, diesel rates in Delhi, Mumbai and other cities

If India achieves the target of blending 20 percent ethanol with petrol by 2025, it will save around Rs 1 lakh crore of foreign exchange, Union Home Minister Amit Shah said on Wednesday.

In June 2021, the Narendra Modi government had set the target of achieving 10 percent ethanol blending in petrol by November 2022, which was achieved five months in advance, he said after laying the foundation stone for Kribhco’s bioethanol plant at Hazira on the outskirts of Surat.

Achieving this target early made the government advance by five years the target of 20 percent ethanol blending to 2025, the Cooperation Minister said.

Oil rises on weakening dollar, potential supply disruptions

Oil prices edged upwards in early Asian trade on Thursday, as supply concerns and a looming rail stoppage in the US, the world's biggest crude consumer, supported markets.

Brent crude futures rose 38 cents, or 0.4 percent, to $94.48 a barrel by 0013 GMT, while US West Texas Intermediate crude rose 46 cents, or 0.5 percent, to $88.94.

The dollar index slipped 0.14 percent on Wednesday, dialing back the previous session's gains, lifting demand for dollar-denominated commodities such as crude oil from holders of other currencies.

The International Energy Agency (IEA) said Wednesday it expects widespread switching from gas to oil for heating purposes, saying it will average 700,000 barrels per day (bpd) in October 2022 to March 2023 - double the level of a year ago. That, along with overall expectations for weak supply growth, also helped boost the market.

India's oil imports from Russia jumped to 18% of crude purchases in July

India's import of Russian oil rose to nearly 18 percent of its total petroleum crude imports in July in value terms, according to the latest commerce ministry data.

As per the data, India imported Russian petroleum crude worth $2.88 billion in July, down a marginal 0.4 percent from the June figure of $2.89 billion. However, with India's petroleum crude imports falling by more than a billion dollars in July from June, Russian oil amounted to 17.9 percent - compared to 16.8 percent in June - as a percentage of total petroleum crude imports.

US Northeast faces potential energy shortages as rails start to shut

Some trains carrying fuel components to the US Northeast have been halted in preparation for a possible railroad shutdown in the coming days, two sources familiar with the situation said on Wednesday.

The northernmost East Coast states rely on railroad shipments to supplement pipeline deliveries from the US Gulf. The region is among the largest fuel consumers in the nation, where U.S. Energy Information Administration (EIA) data shows that in July inventories of heating oil and diesel reached the lowest levels in at least three decades.