-The Hindu While consumers will be glad to see their fuel bills slashed by the advent of a favourable rate structure under the GST, State governments will have to contend with an erosion in tax revenue. At the time of writing, petrol was retailing at Rs.82.48/litre in Mumbai, roughly 62% more than the Rs.50.8/litre Pakistanis shell out for a tank of gas. This is despite the fact that crude oil prices are...
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Petrol, diesel prices hiked after 19 days
-PTI Oil PSUs, who had kept rates unchanged for nearly three weeks before Karnataka went to polls despite input cost spiking, reverted to daily revision in prices on Monday New Delhi: After a 19-day pre-Karnataka poll hiatus, petrol price was today hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers. Petrol price in Delhi was hiked...
More »India Braces for Oil Blowback as Trump Set to Announce Decision on Iran Deal -Noor Mohammad
-TheWire.in If Trump carries out his threat of pulling the US out of the deal and re-imposes sanctions on the Persian Gulf country, oil prices could start soaring, hitting India and other major crude importers hard. New Delhi: The global oil market is waiting with bated breath for US President Donald Trump’s next move on the Iran nuclear deal, expected to be announced on Tuesday, four days ahead of the May 12...
More »Price freeze: on high fuel prices
-The Hindu Abandoning the daily price revision of petrol and diesel sets back an important reform The price of oil has been shooting up for weeks now, with Brent crude oil futures hitting their highest level in more than three years on Monday, at more than $75. But for two weeks now, the state-owned oil companies have kept petrol and diesel prices unchanged. Since April 24, the oil companies have abandoned the...
More »Oil prices static before polls
-PTI New Delhi: A fortnight before Karnataka goes to polls, PSU oil firms have stopped revising petrol and diesel prices although benchmark international rates have gone up by almost $2 per barrel. The daily price notification issued by oil firms showed that petrol and diesel prices have been static since April 24. This is despite the benchmark international rate for petrol going up from $78.84 a barrel, which was cited for raising the...
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