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As crude oil prices rise, MC explains what's on the cards for petrol, diesel prices

After a gap of almost two years, the OMCs, including Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd, had on March 14 slashed fuel prices in the country by Rs 2 per litre.

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A petrol, diesel price cut could be coming your way soon. Here's why

Ratings agency ICRA says marketing margins on retail sales of petrol and diesel for the Indian oil marketing companies have improved in the recent weeks with reduction in crude prices

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Petrol Price Cut: Brent below USD 80/bbl, is the time ripe for Modi govt to cut fuel prices before elections?, ET Auto

Petrol Price Cut: State-run oil marketing companies, which control 90 % of the market, are seeing good times given the sharp decline in oil prices since September 2023. Rating agency ICRA said this sharp decline has upped the OMCs’ marketing margins to INR 11 and INR 6 per litre on petrol and diesel, respectively. They are now reversing the double-digit losses experienced when crude prices inched higher since February 2022.

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Fuel price cut by Tk 5 was not needed

The fuel price should have been left as it is instead of the Tk 5 cut per litre, which is unlikely to have any visible impact, said Tawfiq-e-Elahi Chowdhury, energy adviser to the prime minister.

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Breaking News, May 24 | LIVE Updates

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Breaking News, May 23 | LIVE Updates

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Fuel prices likely to drop further as Centre decides to release crude oil from its reserves

The Centre has agreed to release five million barrels of crude oil from its Strategic Petroleum Reserves. The move comes after consultation with other major global energy consumers, including the US, China, Japan and South Korea.

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