Petrol prices hiked by Rs 3.96 a litre, diesel by Rs 2.37

Last Updated: Thursday, April 30, 2015, 22:15

Prices of petrol in Delhi will be Rs 63.16 a litre from Friday as against the current Rs 59.20; while diesel will cost Rs 49.57 per litre as against Rs 47.20, Indian Oil Corp (IOC), the nation's largest oil company, said.

Petrol price hiked by Rs 3.96 per litre; diesel by Rs 2.37 per litre

Last Updated: Thursday, April 30, 2015, 22:10

In one of the steepest hike of fuel prices, oil companies on Thursday hiked the price of petrol by Rs 3.96 a litre and that of diesel by Rs 2.37 a litre, to be effective Friday.

Govt exempts ONGC, OIL from LPG subsidy payments

Last Updated: Tuesday, April 21, 2015, 14:53

In a big boost to domestic oil and gas exploration, the government has decided to exempt state-owned ONGC and Oil India from paying for LPG subsidies in current fiscal, Oil Secretary Saurabh Chandra said Tuesday.

Oil cos suffer inventory loss of Rs 30K cr on price slump: FM

Last Updated: Thursday, February 26, 2015, 21:50

Finance Minister Arun Jaitley Thursday defended petrol and diesel pricing policy of state-run firms, saying they had suffered an inventory loss of Rs 30,000 crore this fiscal on falling international oil rates.

Oil retailers to open 35,600 new outlets in next 3 years

Last Updated: Tuesday, January 20, 2015, 18:07

The country has 51,870 petrol pumps with Indian Oil Corp (IOC) being the market leader with 23,993 outlets, followed by Hindustan Petroleum Corp Ltd (HPCL) with 12,869 pumps and Bharat Petroleum Corp Ltd (BPCL) with 12,123 outlets.

Oil-company rally snaps 5-day losing streak

Last Updated: Saturday, January 17, 2015, 17:00

Oil prices jumped yesterday after the International Energy Agency predicted drillers would cut production this year. Exxon Mobil, Chevron and other energy companies led all 10 sectors of the Standard & Poor's 500 index to gains, climbing 3 percent.

Subsidy relief buzz: Oil India, ONGC shares gain 3%

Last Updated: Friday, January 9, 2015, 19:27

Shares of Oil India Ltd and ONGC Friday rose by about 3 percent following a report that government is likely to exempt the state-run firms from payment of fuel subsidy during the rest of the fiscal due to steep decline in global oil rates to around USD 50 per barrel.

SpiceJet says did not receive any credit from oil companies

Last Updated: Thursday, January 8, 2015, 00:15

The cash-strapped budget carrier had presented a revival plan to the Civil Aviation Ministry late last month, but it was told to submit a revised comprehensive plan with more details.

Jet fuel rates cut sharply by 12.5%

Last Updated: Thursday, January 1, 2015, 15:06

Jet fuel (ATF) rates were Thursday slashed by a steep 12.5 percent, the sixth straight reduction in prices since August, as international oil prices slumped to five-year low levels.

SpiceJet presents revival plan to government

Last Updated: Monday, December 22, 2014, 22:37

Struggling budget carrier SpiceJet has presented a revival plan to the government, which will be discussed with oil companies and banks before taking a final decision regarding the airline, official sources said Monday.

SpiceJet resumes normal operations

Last Updated: Saturday, December 20, 2014, 17:44

The operations of the budget carrier SpiceJet, which were hit severely last week due to the non-payment of dues to the oil companies and regulatory issues, returned to normal Saturday with the airline operating 124 flights till this afternoon.