Fuel Price

He also said the government expects Rs 90,000 crore from the Reserve Bank of India (RBI) as dividend during the current fiscal

Crude prices have fallen from around $71.34 a barrel in 2018 to $66 a barrel this year

A litre of petrol today costs Rs 75.57 in Delhi, Rs 81.10 in Mumbai, Rs 77.53 in Kolkata and Rs 78.46 in Chennai

During October, petrol sales were up 4.6 per cent to 2.33 MT while diesel consumption was up 6.7 per cent to 6.98 MT

Fuel prices had earlier witnessed a relentless hike in the country, burning a hole in the commuter's pocket

However, those who want to set up a petrol pump, will have to obtain permission of the Petroleum and Explosive Safety Department as per the existing rules

'Despite the negative earnings effect of the government's decision, we continue to expect the three OMC to report higher EBITDA in fiscal 2019 versus fiscal 2018'

The three major stakeholders - the Central government, state governments and OMCs - are contributing to the softening of the burden of retail prices, says Sanjiv Singh