Fuel Prices

With CNG prices increased in Delhi, city-based transport bodies on Saturday demanded an immediate hike in autorickshaw fares and threatened to go on a strike on September 9 if their demand was not fulfilled. The price of CNG in Delhi and adjoining cities increased by Rs 3.89 per kg from Saturday, according to Indraprastha Gas Ltd. It said a significant portion of input gas for CNG was being met through imported LNG, whose rates in the spot or current market had seen a surge since the beginning of the West Asia conflict. Auto Rickshaw Association and Delhi Pradesh Taxi Union General Secretary Rajendra Soni said, "The Delhi government should increase auto and taxi fares with immediate effect within one week, as CNG prices were increased by Rs 3.89 this morning, which has suddenly increased the financial burden on poor drivers." CNG prices have been rising over the past two to three months, with a cumulative increase of approximately Rs 10-11, he said in a statement. "The government

CNG price in Delhi and adjoining cities will rise by Rs 3.89 per kg from Saturday, Indraprastha Gas Ltd said on Friday. In a statement, IGL said a significant portion of input gas for CNG is being met through imported LNG, whose rates in the spot or current market have seen a surge since the beginning of the West Asia conflict. "With international LNG prices remaining elevated and the cost impact becoming increasingly significant, a calibrated revision of Rs 3.89 per kg has now become necessary to partially offset the increase in input gas cost," IGL said, adding that the revision in CNG prices is being effected from 6 am on Saturday.

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Air India has cut fuel surcharges for flights to North America, Australia, Europe, and the UK as oil prices eased in recent weeks, according to sources. The airline announced fuel surcharges on April 7 amid a surge in oil and jet fuel prices due to the West Asia conflict. The higher costs and airspace curbs had pushed up operational expenses for the airline. Fuel surcharge for North America and Australia flights have been cut to USD 200 from USD 280 per ticket and that for Europe and the UK services have been reduced to USD 125 from USD 205, the sources said on Thursday. The revised fuel surcharges are effective from July 1, the sources said. There was no comment from Air India. Fuel surcharges for other international flights and domestic services of the airline remain unchanged. Fuel surcharges for North America, Australia, Europe, and the UK flights had come into force from April 10. On April 7, the Air India Group announced fuel surcharges ranging from USD 24 to USD 280 for ..

Jet fuel or ATF price was cut by Rs 5 per litre on Wednesday on softening international oil prices. Aviation turbine fuel (ATF) now costs Rs 110 a litre in Delhi, industry sources said. This is the first reduction since the West Asia crisis led to a spike in jet fuel rates to a record high.

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Nayara Energy, India's largest private fuel retailer, on Wednesday cut petrol prices by Rs 5 per litre and diesel by Rs 3 a litre across its nationwide network, marking the first reduction in retail fuel prices by any company in more than two years as easing tensions in West Asia pulled down international oil prices. The price cut follows a retreat in global crude oil prices after hostilities in West Asia eased and the reopening of a key maritime route restored the flow of crude oil and liquefied natural gas, reducing concerns over supply disruptions. The revised rates have come into effect at all of Nayara's more than 7,000 fuel stations across the country, industry sources said. Actual pump prices vary across states depending on local levies such as value-added tax (VAT). Public sector fuel retailers, however, kept prices unchanged. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), which together accou

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Union Minister Suresh Gopi on Thursday said that the fuel prices cannot be reduced immediately when the rate of global crude comes down as it involves many factors, including the time taken for the cheaper oil to reach India. Gopi, the Union Minister of State for Petroleum, Natural Gas and Tourism, said of the recent hike in fuel prices, only an increase of around Rs 3.94 per litre has made an impact, but it cannot be immediately rolled back just because the cost of crude has gone down globally. "It will take time as the cheaper crude has to be transported to India via Strait of Hormuz, which will see an excessive traffic of ship movement. So things will have to be normalised," he told reporters here. He further said that since the war broke out in West Asia in February this year, the oil companies were impacted in a big way and the central government absorbed the impact to a good extent. "By absorbing the impact, the Centre lost Rs 12,000 crore. None of the states reduced their ..

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Union Minister of State for Petroleum and Natural Gas Suresh Gopi on Sunday said fuel prices would be reviewed based on the availability of crude oil supplies. Replying to reporters' questions on a possible revision in fuel prices, Gopi said the situation would be assessed based on crude oil supplies. "Let us see the supply of crude oil. We have the minister concerned, Hardeep Singh Puri. Let it come," he said. He also asked reporters whether they had the role of a supervisory ministry. Fuel prices, including petrol, diesel and LPG, have witnessed hikes in recent weeks. The increase followed disruptions in crude oil and natural gas supplies linked to the ongoing conflict in West Asia. PTI TBA.