New Delhi, May 25 (IANS) Government-owned oil marketing companies — Indian Oil, Hindustan Petroleum and Bharat Petroleum — are still losing around Rs 600 crore a day despite the increase in petrol and diesel prices announced on May 25, a senior government official said on Monday.This is the fourth increase in the prices of the two fuels over the last 10 days. The oil companies raised the price of petrol by Rs 2.61 a litre and that of diesel by Rs 2.71 per litre. The increase takes the cumulati…
Latest Petroleum Planning and Analysis Cell News & Updates
New Delhi, March 27 (IANS) Amid rising crude prices and mounting pressure on oil retailers, the Centre’s Rs 10 per litre excise duty cut on petrol and diesel signals both near-term relief for consumers and a potential impact on one of its key revenue streams. Under the revised rates, excise duty on petrol has been reduced to Rs 3 per litre, while diesel has effectively been exempted.The decision comes against the backdrop of elevated global crude oil prices due to the ongoing West Asia conflic…
New Delhi, March 10 (IANS) As hotels and restaurants report commercial LPG shortage, the government has invoked the Essential Commodities (EC) Act to ensure the uninterrupted supply of domestic cooking gas, directing refineries and petrochemical units to maximise the production of LPG.The EC Act has been invoked to ensure divert key hydrocarbon streams to the LPG pool.Authorities have also asked these facilities to divert key hydrocarbon streams to the LPG pool in order to boost availability and…