New Delhi, June 23 (IANS) India’s markets successfully navigated a turbulent quarter of geopolitical shocks, and US-Iran peace deal and oil trading near $70–$80 per barrel will help ease inflation, support the rupee, reduce the import bill, and benefit rate-sensitive and oil-consuming sectors, a report said on Tuesday.The report from smallcase said the key risk remains any breakdown of the peace deal or renewed disruption at the Strait of Hormuz. It could re-spike crude, revive inflation and…
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New Delhi, June 21 (IANS) Crude oil prices have retreated sharply and are trading near their lowest levels since the onset of the Middle East conflict. According to analysts, if the US-Iran situation progresses positively and full normalcy is restored at the Strait of Hormuz, crude prices may soften further.However, “we expect crude oil prices to rise again as countries are expected to replenish inventories and Strategic Petroleum Reserve (SPRs) to maintain optimum resource levels, creating in…
New Delhi, May 27 (IANS) The Rs 77,821 crore combined OMC profit for FY2025-26 is a 3 to 4 per cent net margin on combined turnover in the order of Rs 20 lakh crore, the working margin any healthy commodity refiner at this scale produces, according to the data.The Opposition is pointing to the OMCs’ Rs 77,821 crore combined profit in FY 2025-26 a 130 per cent jump over FY 2024-25, and calling it a windfall during a crisis.The truth is: Roughly half of this profit returns to the Government of Ind…
New Delhi, May 21 (IANS) India’s leading state-run oil marketing companies (OMCs) — HPCL, IOCL, and BPCL — on Thursday assured customers that petrol, diesel and LPG supplies remain stable across the country, while urging people not to rely on rumours or unverified social media messages regarding fuel shortages.Taking to the microblogging platform X, Indian Oil Corporation (IndianOil), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) said fuel distr…
New Delhi, May 16 (IANS) The recent retail fuel price increase of Rs 3 per litre will trim mounting losses at oil marketing companies and provide up to Rs 52,700 crore worth of relief in their under‑recoveries, a report said on Saturday.The report from SBI Research said that the relief is equal to roughly 15 per cent of the expected total loss of OMCs in FY27.Under‑recoveries on petrol and diesel have surged because retail prices were kept unchanged amid rising Brent crude, with the governme…
New Delhi, April 21 (IANS) Even after escalation in West Asia conflict and rise in Brent crude oil prices due to the closure of Strait of Hormuz, the fuel prices remain unchanged in India, while many countries have witnessed a jump of up to 85 per cent.Data by Kotak highlighted a sharp divergence between India and both advanced and emerging countries, where consumers have faced increases in fuel prices so far this year, reports NDTV Profit.On the diesel front, prices have witnessed a sharp rise …
New Delhi, April 18 (IANS) The government on Saturday said that more than 17.25 lakh 5-kg FTL cylinders have been sold since March 23, adding that since April 3, PSU oil marketing companies (OMCs) have organised more than 6,450 awareness camps for 5-kg FTL cylinders, wherein more than 90,000 such cylinders were sold.These 5-kg FTL cylinders are at the disposal of the state governments for supplying only to migrant labourers in their states with assistance from OMCs.Meanwhile, total commercial LP…
New Delhi, April 15 (IANS) India’s wholesale price inflation (WPI) saw a rise in March, driven largely by higher global energy prices amid geopolitical tensions in West Asia, according to economists on Wednesday.Rahul Agrawal, Senior Economist at ICRA, said that the uptick was broad-based, with crude petroleum and natural gas, along with fuel and power.”Notably, these two groups together accounted for 150 basis points of the 175 basis points uptick in the headline print in March 2026 relative …
Chandigarh, April 7 (IANS) Haryana Chief Secretary Anurag Rastogi on Tuesday chaired a high-level meeting here to review the distribution of LPG cylinders, including 5 kg free trade LPG (FTL) cylinders, and the status of the piped natural gas (PNG) network in the state. At the virtual meeting, the Chief Secretary directed all Deputy Commissioners to ensure last-mile delivery of LPG cylinders, with special attention to rural areas. They were directed to closely monitor the distribution of FTL cyl…
New Delhi, April 4 (IANS) The government on Saturday said that 21 states/union territories are issuing and carrying out press briefs to effectively counter misinformation and to reassure citizens regarding adequate availability and smooth distribution of LPG.The government had requested Chief Secretaries of all States/UTs to intensify proactive and regular public communication, conduct daily press briefs at appropriate senior level, along with timely dissemination of accurate information through…