State-run oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation may soon have to start raising retail prices in small tranches as the Indian basket of crude oil hit a decadal high of $121.28 per barrel on Friday. The Indian basket represents a derived basket consisting of sour grade […]
To encourage vendors to maximise ethanol supplies, state-run oil marketing companies (OMCs) will provide them monetary relief between Rs 1,179 -2,337 per kilolitre (KL) for six months till November. The move will help OMCs narrow their marketing losses (under-recoveries) due to elevated crude prices, currently pegged between Rs 18-21 per litre for petrol and diesel. […]
By Nayan Dave In the wake of increasing international crude prices, sales at Reliance Industries’ (RIL) over 160 fuel outlets across Gujarat are facing supply problems for petrol and diesel. In fact, some of the pumps have been forced to halt sales temporarily in the state. One of the dealers of RIL in Ahmedabad, on […]