Petrol prices cut by 49 paise/litre, diesel by Rs 1.21; CNG rates by 60 paise

Last Updated: Wednesday, April 1, 2015, 13:26

After two consecutive hikes, petrol prices were Wednesday cut by 49 paise per litre and diesel by Rs 1.21 a litre on softening international oil rates.

Govt allocates Rs 4,948 cr for filling strategic oil reserves

Last Updated: Tuesday, March 31, 2015, 22:27

Taking advantage of lower oil prices, the government on Tuesday allocated Rs 4,948 crore to full India's maiden strategic oil reserves to insulate itself from supply disruptions.

Brent falls towards $54, heads for third weekly loss

Last Updated: Friday, March 20, 2015, 12:37

Brent crude fell towards $54 a barrel on Friday and was on track for its third weekly loss, hurt by oversupply worries after Kuwait said OPEC had no choice but to maintain output levels.

OPEC daily basket price drops

Last Updated: Tuesday, March 17, 2015, 16:53

The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $49.46 a barrel on Monday, compared to $51.66 last Friday, dropping over $2, the organisation`s secretariat said.

ATF price hiked by 8.2%; non-subsidised LPG to cost Rs 5 more

Last Updated: Sunday, March 1, 2015, 16:28

Jet fuel price was Sunday hiked by a steep 8.2 percent while the rates of non-subsidised LPG was increased by Rs 5 per cylinder on firming international oil rates.

Oil slips towards $60 as oversupply weighs

Last Updated: Friday, February 20, 2015, 17:56

Brent crude oil fell towards $60 a barrel on Friday as oversupply, underlined by record-high U.S. crude stocks, weighed on the market.

US consumer prices post sharpest monthly fall in 6 years

Last Updated: Friday, January 16, 2015, 21:34

Falling oil prices pushed US consumer prices into their sharpest monthly drop in six years in December, according to government data released Friday.

Ruble down around 5% against dollar on back of falling oil price

Last Updated: Tuesday, January 13, 2015, 20:49

The Russian ruble on Tuesday plunged by around 5 percent against the dollar as global oil prices tumbled towards a six-year low.

Oil dives close to six-year lows; European stocks rise

Last Updated: Tuesday, January 13, 2015, 09:21

Crude sank again Monday after Wall Street investment titan Goldman Sachs slashed its price outlook for the commodity, adding to anxiety about a global oversupply, weak demand and soft growth in the key Chinese and European markets.

Jet fuel price cut by 12.5%; non-subsidised LPG by Rs 43.50

Last Updated: Thursday, January 1, 2015, 13:00

Price of non-subsidised cooking gas (LPG) was Thursday cut by Rs 43.50 per cylinder and that of jet fuel (ATF) by 12.5 percent as international oil rates slumped to multi-year lows

Will pass on benefit of dip in world oil prices to consumer: Jaitley

Last Updated: Friday, December 19, 2014, 23:36

Union Finance Minister Arun Jaitley on Friday asserted that the government will pass on the benefit of dip in international oil prices to the consumer, while he defended imposition of excise duty saying that funds for social spending also has to be raised.

Oil tumbles anew on Iraqi export deal, futures margin hike

Last Updated: Wednesday, December 3, 2014, 08:55

Oil prices resumed their slide on Tuesday after rising in their biggest rally in two years the day before, hurt by a deal that will add more Iraqi crude to already oversupplied markets, higher margin requirements for trading U.S. futures, and a stronger dollar.