Petrol and diesel prices need to be increased by Rs 15 a litre for fuel retailers to break even
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Crude oil prices shot above USD 120 a barrel for the first time in nine years on Thursday before retreating a little to USD 111 on Friday, but the gulf between cost and retail rates has only widened
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International crude oil prices shot above USD 110 a barrel for the first time since mid-2014 on fears that oil and gas supplies from energy giant Russia could be disrupted, either by the conflict in Ukraine or retaliatory western sanctions
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Brent crude oil surged past USD 105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine
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Brent crude rose to as much as USD 103.78 a barrel, the highest since August 14, 2014, and was at USD 103.40 at 1500 hrs, up USD 6.71, or 6.93 per cent
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India's fuel demand is likely to grow 5.5 per cent in the fiscal year beginning April 1 as economic activity picks up after devastation caused by the pandemic
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Local demand for gasoline, used mainly in passenger vehicles, is expected to rise by 7.8% to 33.3 million tonnes, while gasoil consumption was slated grow by about 4% to 79.3 million tonnes, the data showed.
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States in India have opened schools and colleges, and eased night-curfews among other curbs, after a sharp decline in infections.
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Crude prices, which have already rallied about 20 per cent so far this year, are likely to surpass $100 per barrel due to strong global demand, market strategists said this week
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ONGC has planned a capital expenditure (capex) of Rs 29,950 crore in FY23, marginally lower than the revised estimated expenditure of Rs 30,500 crore in the current fiscal
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