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Oil price News

23 Nov 2023

Oil Marketing Stocks In Limelight On Account Of Fall In Crude Price

Sugar stocks too witnessed fresh buying due to improved domestic demand.

06 Sep 2023

BIG UPDATE On Petrol, Diesel Price; Govt May Cut Fuel Prices By Rs 3-5 A Litre

Last week, the government cut the price of the domestic 14.2kg LPG cylinder by Rs 200/LPG cylinder for all 330 million consumers w.e.f. August 30.

12 Aug 2023

ONGC Q1 Net Profit Drops 34% On Lower Oil Prices, Output

ONGC, India's top crude oil and natural gas producer, earned USD 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of USD 108.55 per barrel last year.

11 Aug 2023

Oil Prices Up In July By 16 Percent; Highest Since Jan 22

The crypto market was an exception to the green wave, as Bitcoin & Ethereum fell by 4 percent, followed by the collapse of FTX, one of the largest global cryptocurrency exchanges.

05 May 2023

Big Relief For Consumers! Govt Asks Companies To Cut Edible Oil Prices

The stakeholders were advised to take up the issue with their members immediately and ensure that the MRP of each oil brand be reduced in line with the decline in the international prices of edible oils with immediate effect.

27 Sep 2022

Spike in OIL price is BREAKING India's back: EAM S Jaishankar in US

EAM S Jaishankar has expressed concerns over the surge in oil price He said that the spike in oil price is breaking India's back He said this in the US in a joint press conference with US Secretary of State Antony Blinken

30 Jun 2022

Lanka IOC provides fuel as government pumps go dry in island nation

On Monday, The Sri Lankan government announced that only essential services will operate from midnight till July 10 and all other operations will be temporarily suspended as the crisis-hit nation faces an acute fuel shortage.

23 Jun 2022

Edible oil prices become cheaper, major brands cut MRP by Rs 10-15 per litre

As per government data, the average retail prices of packaged edible oils have ease slightly, except for groundnut oil, across the country since the beginning of this month and are ruling between Rs 150 and 190 per kg.

13 Jun 2022

Petrol pumps in Rajasthan facing acute supply issue, 4,500 petrol pumps stop s

As per media reports, nearly 4,500 petrol pumps out of 6,700 outlets in Rajasthan are facing acute shortate of oil. Reports further said that the petrol pum owners have to wai for over three days --starting from demand draft booking to getting the supply.

25 May 2022

As petrol prices cross Rs 420, diesel Rs 400, Sri Lanka asks people to do WFH

Unprecedented high in fuel prices in Sri Lanka. Petrol, diesel shot up record high levels. Steepest hike since April 19.

23 May 2022

Sri Lanka fuel crisis: 2-day old infant dies as father couldn't find petrol

severe power and fuel emergency in Sri Lanka. SL struggling to find dollars to import fuel and gas. India has helped SL with over $3.5 bn financial support so far this year.

27 Apr 2022

DNA: Why PM Modi had to speak on petrol and diesel prices?

Today, Prime Minister Narendra Modi appealed to many states of the country to reduce VAT to reduce oil prices. However, these are the state governments where there are often protests against expensive oil prices.

14 Mar 2022

Diesel prices raised by Rs 75 per litre, petrol by Rs 50 per litre

Unprecedented high in fuel prices in Sri Lanka. Petrol shot up to Rs 254 per litre. Diesel price rose to Rs 214 per litre.

12 Sep 2020

Petrol prices come down to Rs 81.86 a litre, diesel at Rs 72.93

Due to the outbreak of Covid-19, the oil price is observing a lot of fluctuation in the past few months as the international market remains unstable and the impact of the same is seen in the domestic market. Fuel demand fell to 15.67 million tonnes in July, 11.7 per cent lower compared with 17.75 million tonnes consumption in the same month a year ago, and 3.5 per cent lower than the June sale of 16.24 million tonnes.

14 Aug 2020

Oil prices rise, head for weekly gain amid cautious hopes for rise in demand

Prices have been bolstered this week by US government data showing crude oil, gasoline and distillate inventories all fell last week as refiners ramped up production and demand for oil products improved.

16 May 2020

Oil prices jump as demand shows signs of picking up

US crude prices jumped 7% on Friday to their highest since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus.

Dharmendra Pradhan

08 May 2020

Dharmendra Pradhan hints at new gas policy, says low oil prices no answer

Pradhan also said that India favours reasonable prices that give some space to the producer countries.

24 Apr 2020

Oil prices rebound on output cuts, to end tumultuous week in red

Brent crude was up 60 cents, or 2.8%, at $21.93 by 0133 GMT, having climbed 5% on Thursday. US oil gained 66 cents, or 4%, at $17.16 a barrel, after surging 20% in the previous session.

21 Apr 2020

Crude oil prices below zero; know the reasons for the plunge

Oil prices plunged below zero for the first time on Monday (April 20, 2020) as demand for energy collapses across the globe amid the coronavirus pandemic and traders sought to avoid owning crude having left with no space to store it.

oil production cut

13 Apr 2020

COVID-19: Oil firmer on OPEC+ deal, equities unable to shake pandemic fears

Global shares fell on Monday as investors braced for more signs of economic damage from the coronavirus pandemic although a landmark deal by OPEC and its allies to slash output helped oil prices climbed in volatile trade.

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