Petrol Diesel Price Increase: Fuel prices across India have risen by up to Rs 3 per litre. This hike is driven by surging global crude oil prices and tightened energy supplies. State-run fuel retailers had absorbed costs but are now passing them on. The increase reflects higher international crude costs and domestic pressure.
CNG Price Increase News: Price of CNG has been increased by Rs 2 per kilogram in Mumbai, now costing Rs 84/kg. This follows a Rs 3/litre hike in petrol and diesel prices by Oil Marketing Companies to offset losses from rising global oil rates, which have surged over $120 per barrel.
India and Southeast Asian nations are boosting biofuel use amid global fuel disruptions. This move aims to reduce reliance on imported oil and manage rising costs. However, challenges remain in developing supply chains and ensuring vehicle compatibility. Experts also highlight environmental concerns related to crop-based biofuel production. The shift towards biofuels is a significant development…
Petrol Diesel Price Increase: Fuel prices have risen nationwide. Petrol and diesel rates saw an increase of up to Rs 3 per litre. In Delhi, petrol now costs Rs 97.77 and diesel Rs 90.67. This adjustment by oil marketing companies reflects global crude oil market volatility. The hike will affect household budgets and transport costs,…
India’s crude oil stocks have dropped 15% since late February due to declining imports amid the Iran conflict. Refiners are drawing from inventories to maintain processing rates, but sustained supply constraints may soon necessitate reduced operations, potentially explaining the call for fuel conservation.
Rajasthan petrol pump dealers allege oil marketing companies have reduced fuel supplies and imposed informal sales limits on consumers. This move, communicated via mobile messages and verbal instructions, could potentially lead to law and order issues at fuel stations across the state.
Russia’s Urals oil export blend hit its highest price since October 2023, reaching $94.87 a barrel for tax purposes this month. This surge, driven by disruptions from the Iran war impacting Persian Gulf supplies, significantly boosts the Kremlin’s war economy. Higher oil revenues are enabling the government to replenish its reserves and postpone spending cuts.
Two ships carrying cooking fuel have successfully passed through the Strait of Hormuz. These vessels are heading towards India. This marks an increase in such passages recently. Several other large ships carrying oil, fuel, and gas have also navigated the strait. Some vessels are still near a US blockade line. One supertanker was turned back…
Indian Prime Minister Narendra Modi will visit the UAE to discuss long-term energy supply deals and expand strategic oil reserves. The visit, part of a five-nation tour, aims to secure supplies disrupted by global conflicts. Modi will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan to explore energy cooperation and other bilateral issues.