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  • Cabinet approves Rs 22,000 crore grant for state-run OMCs to compensate LPG losses Oct 12, 2022 11:06 AM IST

    Cabinet approves Rs 22,000 crore grant for state-run OMCs to compensate LPG losses

    "It will help the PSU OMCs to continue their commitment to the Atmanirbhar Bharat Abhiyaan, ensuring unhindered domestic LPG supplies," the Centre said.

  • BPCL divestment is not on the table right now: Hardeep Singh Puri Sep 15, 2022 12:38 PM IST

    BPCL divestment is not on the table right now: Hardeep Singh Puri

    "BPCL is doing well now, divestment is not on the table right now," the minister said.

  • Benefits of ATF price reduction due to new pricing mechanism will be passed on to customers: Airline officials Sep 02, 2022 05:04 PM IST

    Benefits of ATF price reduction due to new pricing mechanism will be passed on to customers: Airline officials

    Most airlines in India are in talks with oil marketing companies including Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Indian Oil Corporation and will sign supply agreements with OMCs by October.

  • Fuel exporters see their stocks on the edge after Centre raises windfall tax Sep 01, 2022 11:08 AM IST

    Fuel exporters see their stocks on the edge after Centre raises windfall tax

    The government has raised the windfall profit tax on the export of diesel to Rs 13.5 a litre and the levy on ATF has been increased to Rs 9 a litre

  • Spike in technical landings from Sri Lanka flights boosts ATF sales of Indian OMCs Jul 14, 2022 05:54 PM IST

    Spike in technical landings from Sri Lanka flights boosts ATF sales of Indian OMCs

    This additional demand for ATF at a time when they are selling at record high prices will boost revenue of the OMCs at a time when they are booking losses on the retail sale of fuel.

  • Govt includes fuel retail outlets in remote areas under Universal Service Obligation to ensure uninterrupted supply Jun 17, 2022 02:43 PM IST

    Govt includes fuel retail outlets in remote areas under Universal Service Obligation to ensure uninterrupted supply

    The Universal Service Obligation will make it obligatory for OMCs to provide supply to retail pumps across the country for the benefit of the end-customers.

  • OMCs up ethanol procurement price as part of 6-months relief package Jun 10, 2022 12:50 PM IST

    OMCs up ethanol procurement price as part of 6-months relief package

    There is no change in the basic price of ethanol from the different feedstock and the vendors have to maintain the prevailing rates in the invoices.

  • Petrol dealers' association asks members to defer protests after meeting petroleum ministry officials May 27, 2022 03:42 PM IST

    Petrol dealers' association asks members to defer protests after meeting petroleum ministry officials

    AIPDA, which represents 22 state fuel dealers associations in India, met petroleum ministry officials, who assured them that their demand will be fast-tracked and that the centre will set up a meeting between fuel dealers and oil marketing companies.

  • Explained: Centre cuts excise duty on petrol, diesel. Could prices come down more or will they rise again? May 21, 2022 09:18 PM IST

    Explained: Centre cuts excise duty on petrol, diesel. Could prices come down more or will they rise again?

    With the excise duty cut alone, the effective retail price of petrol will be reduced by around Rs 9.5 per litre and of diesel by Rs 7 per litre.

  • Petrol pump dealers caution govt against OMCs rationing retail supply to curb their losses May 21, 2022 06:22 PM IST

    Petrol pump dealers caution govt against OMCs rationing retail supply to curb their losses

    Dealers said they have been asked to restrain sale to new customers as oil marketing companies are losing Rs 28 per litre on diesel and Rs 8 per litre on petrol.

  • HPCL's Q4 net takes hit due to retail fuel price freeze; firm plans Rs 15,000 crore capex in FY23 May 19, 2022 08:12 PM IST

    HPCL's Q4 net takes hit due to retail fuel price freeze; firm plans Rs 15,000 crore capex in FY23

    The company’s downstream petroleum business reported revenue of Rs 105,236 crore in Q4FY22, up almost 24% on year. But the business saw its earnings before tax, interest income, interest expenditure, and dividend falling almost 44% year-on-year to Rs 2,261.67 crore.

  • IOC Q4FY22 net profit declines due to petrochemical margin squeeze, loss in auto fuel sale May 17, 2022 09:40 PM IST

    IOC Q4FY22 net profit declines due to petrochemical margin squeeze, loss in auto fuel sale

    IOC’s pre-tax earnings from the sale of petroleum products declined by 8 percent to Rs 8,251.29 crore in the March quarter, while that for its petrochemicals business fell 72 percent to Rs 570.18 crore.

  • Government may sell only part of BPCL, instead of entire stake: Report May 17, 2022 07:26 PM IST

    Government may sell only part of BPCL, instead of entire stake: Report

    New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its entire 52.98% holding, the two government officials, who declined to be named, told Reuters.

  • How refineries survived the oil shock  Apr 22, 2022 11:27 AM IST

    How refineries survived the oil shock 

    The Singapore gross refining margin has touched the $20 per barrel mark, a level last seen in 2012 

  • Fuel price hike: Why is the daily increase 80 paise? Apr 05, 2022 07:43 PM IST

    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.

  • Petrol, diesel prices raised by around 80 paise in third hike this week: Sources Mar 24, 2022 09:24 PM IST

    Petrol, diesel prices raised by around 80 paise in third hike this week: Sources

    With this, the retail prices of petrol and diesel have been increased for the third time this week after a 137-day freeze.

  • Petrol, diesel retail prices raised by 80 paise in 2nd straight hike after 137-day freeze Mar 23, 2022 07:44 AM IST

    Petrol, diesel retail prices raised by 80 paise in 2nd straight hike after 137-day freeze

    While industry expects while the OMCs will further hike the retail prices, the government will again step in with a tax cut

  • Explained: Petrol, diesel retail prices increased. What next? Mar 22, 2022 02:03 PM IST

    Explained: Petrol, diesel retail prices increased. What next?

    Given that crude oil prices have gone up by about $38 a barrel since November, retail fuel prices are bound to rise, although the increases may be gradual and the entire burden may not be passed on to consumers.

  • Fuel price freeze may go soon as crude surges past $118/bbl. Can government cushion consumers from hike impact? Mar 01, 2022 02:41 PM IST

    Fuel price freeze may go soon as crude surges past $118/bbl. Can government cushion consumers from hike impact?

    Petrol pump dealers believe that a tax cut by Centre and states may be the only way to offer some relief to consumers

  • Budget 2022 | FM says petrol, diesel price in the hands of OMCs Feb 02, 2022 08:39 PM IST

    Budget 2022 | FM says petrol, diesel price in the hands of OMCs

    Oil marketing companies have left price of petrol and diesel unchanged for the 89th day on February 2, despite rise in crude oil prices.

  • Petrol, diesel prices may rise as international oil rates surge Sep 17, 2021 07:55 PM IST

    Petrol, diesel prices may rise as international oil rates surge

    Current prices of petrol and diesel in the international market are higher by around $4-6 per barrel as compared to average prices during August.

  • Current govt is paying for UPA's petrol price cut: FM Nirmala Sitharaman Aug 16, 2021 05:18 PM IST

    Current govt is paying for UPA's petrol price cut: FM Nirmala Sitharaman

    Sitharaman said that as of 31 March, 2021, there were Rs 1.31 lakh crore in outstanding principles and Rs 37,340 crore in interest yet to be repaid on the oil bonds dating back to the UPA-era.

  • OMCs continue to hold petrol, diesel prices as global crude rates ease Aug 15, 2021 04:05 PM IST

    OMCs continue to hold petrol, diesel prices as global crude rates ease

    On Sunday, petrol price in the national capital continued to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre.

  • Explained | How India’s ethanol-blending plan impacts industry Jun 30, 2021 04:41 PM IST

    Explained | How India’s ethanol-blending plan impacts industry

    Blending petrol with more of home-grown ethanol can reduce India’s oil import bill by $4 billion a year, and is great news for sugar mills as it is produced from a byproduct. It also helps farmers.

  • After 500 deaths, LPG distributors ring alarm bells of a possible supply disruption during COVID May 24, 2021 04:30 PM IST

    After 500 deaths, LPG distributors ring alarm bells of a possible supply disruption during COVID

    Delivery boys visit 65-75 lakh houses, accessing more than three crore people daily, which makes them vulnerable to infection; Federation asks for immediate vaccination