Tag
India's state-run oil marketing companies have raised petrol and diesel prices by ₹2.7 per litre for the fourth time in 11 days, bringing the total increase to ₹7.5 to ₹8 per litre. The rapid catch-up hikes point to OMCs unwinding accumulated losses, with knock-on pressure on freight costs and retail inflation.
India has raised petrol and diesel prices for the fourth time in under two weeks as surging global crude costs and the Iran conflict push oil marketing companies past the point of absorbing daily losses. Consumers are now bearing costs the government had largely shielded them from until now.
India's state oil companies are considering a ₹5-per-litre hike on petrol and diesel as daily losses on fuel sales reach an estimated ₹10 billion ($105 million). No official decision has been announced, but the pressure on OMC balance sheets makes a revision increasingly likely.
Global crude oil prices have jumped from around $70 per barrel last year to over $114 per barrel this month, raising the likelihood of petrol and diesel price hikes in India. Indian state oil companies are currently absorbing the cost gap, but that buffer is under strain. A retail fuel price revision could push up
India's state-run oil marketing companies are pushing the government to raise prices of LPG, petrol, diesel, and ATF after rising crude oil costs deepened their losses. With elections over, the political barrier to a price hike has eased. A government decision on revisions is now awaited.
India's petroleum ministry has denied any proposal to raise petrol or diesel prices from May 1. The denial follows panic buying and long queues at fuel stations driven by post-election hike speculation. No revised timeline for a price change has been indicated.
Tag
India's state-run oil marketing companies have raised petrol and diesel prices by ₹2.7 per litre for the fourth time in 11 days, bringing the total increase to ₹7.5 to ₹8 per litre. The rapid catch-up hikes point to OMCs unwinding accumulated losses, with knock-on pressure on freight costs and retail inflation.
1mo ago · 3 min · Economy
India has raised petrol and diesel prices for the fourth time in under two weeks as surging global crude costs and the Iran conflict push oil marketing companies past the point of absorbing daily losses. Consumers are now bearing costs the government had largely shielded them from until now.
1mo ago · 3 min · Economy
India's state oil companies are considering a ₹5-per-litre hike on petrol and diesel as daily losses on fuel sales reach an estimated ₹10 billion ($105 million). No official decision has been announced, but the pressure on OMC balance sheets makes a revision increasingly likely.
1mo ago · 2 min · Markets
Global crude oil prices have jumped from around $70 per barrel last year to over $114 per barrel this month, raising the likelihood of petrol and diesel price hikes in India. Indian state oil companies are currently absorbing the cost gap, but that buffer is under strain. A retail fuel price revision could push up
2mo ago · 1 min · Economy
India's state-run oil marketing companies are pushing the government to raise prices of LPG, petrol, diesel, and ATF after rising crude oil costs deepened their losses. With elections over, the political barrier to a price hike has eased. A government decision on revisions is now awaited.
2mo ago · 1 min · Economy
India's petroleum ministry has denied any proposal to raise petrol or diesel prices from May 1. The denial follows panic buying and long queues at fuel stations driven by post-election hike speculation. No revised timeline for a price change has been indicated.
2mo ago · 1 min · Policy & Government
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