Petrol Prices

The government is committed towards ensuring energy security, affordability and accessibility for every citizen, said Hardeep Singh Puri, Union minister for petroleum and natural gas.

Why fuel price cut looks unlikely despite crude trading below $70

India’s oil marketing companies (OMCs) might not be able to cut prices, despite sliding crude prices, as high LPG under-recovery, inventory losses and weak gross refining margins (GRMs) weigh on the firms’ margins.

Crude prices dip, but OMCs unlikely to cut fuel prices amid weak profitability and LPG losses

Energy experts told Moneycontrol that the companies are unlikely to cut fuel prices as OMC profitability has dipped in the current fiscal so far compared to last year.

Why Karnataka hiked fuel prices; will other states follow suit?

In line with the increase in sales tax, petrol prices in Bengaluru rose to Rs 102.84 per litre from Rs 99.84 per litre, and diesel prices rose to Rs 88.95 a litre from Rs 85.93 in the city.

Petrol, diesel prices may be unchanged as OMCs seek higher margins amid oil price drop

Healthier margins would be required to cut pump prices by the oil marketing companies in the country, said energy experts.

OPEC+ keeps output target unchanged. MC explains its impact on India

OPEC+’s ministerial committee has confirmed that the group’s production would remain unchanged till mid-2024.

As crude oil prices rise, MC explains what’s on the cards for petrol, diesel prices

After a gap of almost two years, the OMCs, including Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd, had on March 14 slashed fuel prices in the country by Rs 2 per litre.

Petrol costliest in Andhra Pradesh & Kerala; BJP-ruled MP, Bihar close behind

Petrol and diesel prices soar in Andhra Pradesh, Telangana, and Kerala, contrasting with lower rates in smaller states and UTs due to varying tax rates.

Fuel prices slashed in Lakshadweep ahead of Lok Sabha poll schedule announcement

There will be a reduction in the Retail Selling Price (RSP) of petrol and diesel at Kavaratti and Minicoy by around Rs 5.2 per litre. In Andrott and Kalpeni it will be reduced by around Rs 15.3 per litre, the release said.

Crude prices have fallen since 2022 but petrol, diesel retail prices remain same. Why have OMCs not cut prices?

With global crude oil prices trading around $80 a barrel since late 2023 and oil marketing companies turning profitable, consumers have been expecting a cut in fuel prices

OMCs' improved marketing margins may see downward revision of fuel prices: ICRA

According to ICRA estimates, OMCs’ net realisation was higher by Rs 11/litre for petrol and Rs 6/litre for diesel vis-à-vis international product prices in January 2024

Petrol dealers’ association urges govt for gradual reduction in fuel prices

Amid media reports of fuel price reduction, the Consortium of Indian Petroleum Dealers has written a letter to government to immune dealers from the losses incurred by them during instances of sudden price cuts.

2024: Fuel price cut likely early next year, domestic oil & gas output may get a boost

With international crude oil prices cooling down in 2023 from high levels witnessed in the previous year, expectations are high for price reduction of diesel and petrol by oil marketers in 2024.

India may get a breather from crude oil price drop, here's why

Crude prices have been declining steadily and hit a four-month low on November 16. This may lead to oil marketing companies (OMCs) such as Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation reducing fuel prices soon.

No petrol, diesel price hike likely despite crude oil price surge as elections loom: Moody's

Three state-owned fuel retailers — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row.

India insulated itself from rising fuel prices; enhancing refining capability: Oil Minister Puri

India is already the world’s fourth largest refining hub and we are going to end up as the second largest refining place, Puri said while highlighting the Modi government’s success in areas of trade and foreign policy.

BPCL to monitor crude prices before fuel price revision

Vetsa Ramakrishna Gupta, Director (Finance) at BPCL, said the company could decide on price revision if crude oil prices hover around $75 per barrel on a long-term basis.

Punjab govt hikes VAT, petrol, diesel prices rise in state

Following the increase in VAT, retail prices of petrol (in Mohali) rose to Rs 98.95 a litre and of diesel to Rs 89.25 per litre, fuel pump owners said on Sunday.

Oil ministry expects OMCs to cut fuel prices as crude declines

OMCs are expected to pass on the benefits to the consumers as their performance is now 'close to normalcy, a senior petroleum ministry official has said

Fuel prices on May 18: Petrol and diesel rates remain unchanged in major metros

In Delhi, petrol costs Rs 96.72 per litre while diesel is selling at Rs 89.62 a litre. On the other hand, in Mumbai, petrol is retailing at Rs 106.31, while diesel prices are Rs 94.27.

Fuel prices on May 7: Petrol and diesel prices remain unchanged across major cities

Fuel prices in major metro cities of India such as Delhi,Mumbai and Chennai have been steady over the last eleven months.

Fuel prices on April 29: Petrol and diesel rates remain unchanged across major metros

Oil prices gained about 2 percent on April 28 after U.S. data showed crude output was declining while fuel demand was growing.

McExplains: How your fuel prices are dictated by international crude oil prices?

India imports a majority of its crude oil requirements from Middle-Eastern countries, Saudi Arabia and Iraq. Now lately, Russia has joined the fray.

Fuel Prices on February 21: Check petrol, diesel rates in Delhi, Mumbai and other cities

Petrol and diesel in Delhi cost Rs 96.72 per litre and Rs 89.62 a litre, respectively. In Mumbai, petrol is being sold for Rs 106.31 per litre and diesel for Rs 94.27 per litre.

Fuel Prices on January 3: Check petrol, diesel rates in Delhi, Mumbai and other cities

Petrol and diesel in Delhi cost Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is being sold for Rs 106.31 per litre and diesel for Rs 94.27.