Petrol price cut by 4 Rs per litre,diesel cut by 4 Rs per litre on 3/15/2016,Flash news of Petrol price cut by 4 Rs per litre, diesel by 4 Rs per litre on 3/15/2016
Petrol and diesel prices were hiked for the second time in February. Saturday's hike, coinciding with the Union Budget, was a hefty Rs 4 per litre for petrol and Rs 4 per litre for diesel (inclusive of taxes in Delhi).
Higher prices will kick in with effect from midnight, state-run Indian Oil Corporation said.
The sharp hike was done to account for rising crude prices. In global markets, Brent crude drops $4.53 to $57 a barrel. In February, Brent crude jumped 18 per cent to post the biggest monthly percentage rise since May 2009.Petrol price cut by 4 Rs per litre,diesel cut by 4 Rs per litre on 3/15/2016,Flash news of Petrol price cut by 4 Rs per litre, diesel by 4 Rs per litre on 3/15/2016
"The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes," IOC said in a statement.
Petrol price cut by 4 Rs per litre,diesel cut by 4 Rs per litre on 3/15/2016,Flash news of Petrol price cut by 4 Rs per litre, diesel by 4 Rs per litre on 3/15/2016
Petrol and diesel prices in India are deregulated and linked to market rates.
NEW YORK: The price of oil is tumbling again, rattling an already-shaken oil industry and heralding lower prices for consumers.
The price of oil fell 10 percent this week, approaching its lowest price in six years. Many expect it to fall further in the coming weeks because supplies are rising and the summer driving season is still months away.
Oil prices had appeared to stabilize in a range nearly 15 percent higher than the depths they had reached in late January. But on Friday ..
NEW YORK: The price of oil is tumbling again, rattling an already-shaken oil industry and heralding lower prices for consumers.
Petrol price cut by 4 Rs per litre,diesel cut by 4 Rs per litre on 3/15/2016,Flash news of Petrol price cut by 4 Rs per litre, diesel by 4 Rs per litre on 3/15/2016
The price of oil fell 10 percent this week, approaching its lowest price in six years. Many expect it to fall further in the coming weeks because supplies are rising and the summer driving season is still months away.
Oil prices had appeared to stabilize in a range nearly 15 percent higher than the depths they had reached in late January. But on Friday ..
Oil prices had appeared to stabilize in a range nearly 15 percent higher than the depths they had reached in late January. But on Friday the International Energy Agency called a recent rise in oil prices a "head fake" and a "facade of stability."
"The rebalancing (of supply and demand) triggered by the price collapse has yet to run its course," the agency wrote in its monthly oil market report.
On Friday, oil fell $2.21, or 5 percent, to $44.84 a barrel, within 40 cents of its ..
But it is still unclear whether producers in the US have cut back enough to help rebalance supply and demand. And while some OPEC members have called for the cartel to reduce output in an effort to force prices up, the group's most powerful member, Saudi Arabia, and other Gulf states have shown little interest in cutting back.
Despite the slowdown in drilling, US production is still rising because projects started last year are still ramping up. Many oil companies say they can still m ..Petrol price cut by 4 Rs per litre,diesel cut by 4 Rs per litre on 3/15/2016,Flash news of Petrol price cut by 4 Rs per litre, diesel by 4 Rs per litre on 3/15/2016
NEW YORK: The price of oil is tumbling again, rattling an already-shaken oil industry and heralding lower prices for consumers.
The price of oil fell 10 percent this week, approaching its lowest price in six years. Many expect it to fall further in the coming weeks because supplies are rising and the summer driving season is still months away.
Oil prices had appeared to stabilize in a range nearly 15 percent higher than the depths they h ..