Tag: Oil Price

"Reports show that Russia is already offering steep discounts -- as much as 30 per cent -- and long-term contracts to some countries. This also demonstrates that Russia is planning to continue supplying its oil and willing to swallow bigger discounts," she said.

Oil prices have jumped more than 30 per cent since February 24, when Russia launched military attack against Ukraine, touching $139 a barrel at one point this week.

Bhubaneswar: “We are all crying, but not an eye to shed tears”, said an exasperated Leader of Opposition Narasingha Mishra while expressing concern over the unprecedented hike in fuel and petroleum products during the proceedings of the Odisha Assembly today. Mishra stated that the Centre and State Government are blaming each other but both are […]

Bhubaneswar/New Delhi: Consumers, now it’s time to use petrol, diesel more judiciously as oil marketing companies have decided to increase the dealer commission, paid to fuel pump owners, starting today making the prices of fuel go up. The dealer commission, which is a part of price of the fuel that consumers pay, is currently Rs […]

New York: Oil prices continued to rise slightly on Friday after slumping over 2 per cent earlier this week. The West Texas Intermediate (WTI) for September delivery rose $0.45 to settle at $65.91 a barrel on the New York Mercantile Exchange, while Brent crude for October delivery rose $0.40 to close at $71.83 a barrel […]

New York: Oil prices extended losses on Thursday as rising US crude inventories intensified concerns about market oversupply. The US Energy Information Administration (EIA) said on Wednesday that the country’s crude inventories climbed by almost 5 million barrels to 533.1 million last week, far outpacing forecasts for an increase of 2.8 million, Xinhua news agency reported. […]

New Delhi: Petrol price declined by 6 paise across the four metropolitan cities in the country on Sunday, data from the Indian Oil Corp’s website showed. In Delhi, petrol was sold for Rs 69.93 per litre, down from Rs 69.99 a litre on Saturday. In Kolkata, Mumbai and Chennai, petrol was sold for Rs 72.19, […]

New Delhi: Petrol prices continued a downward trend for the fifth consecutive day on Tuesday, while diesel prices remained unchanged after a slight dip on Monday. Delhi, Kolkata, Mumbai and Chennai saw a reduction of 5 paise/litre in petrol prices. According to the Indian oil website, in Delhi, Kolkata, Mumbai and Chennai, the petrol rates […]

New Delhi: The upward trend in petrol rates continued on the fifth consecutive day on Monday, while the diesel prices remained constant for the sixth day in continuation. The prices have been affected by the rise in the crude oil rates in the international market. Though on Monday, the petrol rates in the international market […]

New Delhi: After a rise for six consecutive days, the petrol prices did not show any increase on Wednesday and the diesel rates also remained static as the Brent crude oil rates dropped in the international market. As per the Indian oil website, the petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs 74.20/litre, […]

Mumbai: A major escalation in tensions between the US and Iran – the two biggest oil producing nations – following a US airstrike killing one of Iran’s most powerful military commanders, General Qasem Soleimani, has sent global financial markets into a tailspin. While the stock markets have taken a beating, gold, silver and oil prices […]

New Delhi: The Petrol and diesel prices rose again for the fourth straight day on Sunday across all major cities. Petrol price was increased by 9 paise per litre and that of diesel by 11 paise, as per the information on the Indian Oil Corporation website. Petrol now costs Rs 75.54 a litre in Delhi, […]

New Delhi: Crude oil prices plunged on Monday with the West Texas intermediate (WTI) crude in the US falling below the $15 per barrel mark, the lowest level in 21 years. The fall in oil prices comes on the back of weak demand amid the coronavirus crisis. The pandemic has almost brought the global travel […]

New Delhi: At least in the oil sector, the global health emergency posed by the spread of the novel coronavirus has come to the country’s advantage. India’s oil import bill has fallen close to 10 per cent in FY20 as the increasing spread of coronavirus and demand squeeze globally has depressed the crude oil prices […]