The Organization of Petroleum Exporting Countries predicted that India’s oil consumption will increase to 5.80 million barrels per day in 2025, a 4.1% increase from the 5.57 million barrels per day predicted in 2024. The cartel noted in its most recent oil market report for the month that rising economic activity will lead to higher…
The administration had to take measures ahead of the general elections, resulting in lowered prices for LPG cylinders and motor fuel. Oil marketing corporations (OMCs) may face profitability questions due to recent price spikes, despite healthy profits in the first three quarters of FY24. Analysts predict daily fuel price modifications will resume after the elections,…
Public sector oil marketing companies (OMCs) Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Indian Oil Corporation will bear the financial brunt of the Rs 100 per cylinder price cut announced on Friday. Liquefied petroleum gas (LPG) prices were dropped by Rs 100 per 14.2-kg cylinder for all residential LPG consumers on Saturday by the OMCs,…
Oil corporations are making ₹10 per liter on petrol sales, but retail prices haven’t dropped to make up for earlier losses and a ₹6.50 per liter loss on diesel, a report said. The prices of petrol and diesel have not been updated by state-owned IOC, BPCL, and HPCL in pace with inflation for the past 15 months….
According to a senior finance ministry official, the Centre will likely provide the state-run fuel dealers an extra sum totaling about Rs. 20,000 crores – over the Rs. 5,800 crores allocated – to make up for the under-recoveries on cooking gas in the current fiscal year. This indicates that gasoline subsidies, which were reduced to…
Petrol sales in India recovered in August but diesel continued to show a decline over the last month as rains in several parts nicked away demand in some sectors, mainly industry data showed. Petrol sales, which had declined 5% in July, increased 5.8% to 2.81 million tonnes in August when compared with 2.66 million tonnes of demand in…
