Gasoline

Iran introduced a new pricing tier on Saturday for its nationally subsidised gasoline, attempting to rein in spiralling costs for the first time since a price hike in 2019 that sparked nationwide protests and a crackdown that reportedly killed over 300 people. Cheap gasoline has been viewed for generations as a birthright in Iran, sparking mass demonstrations as far back as 1964 when a price increase forced the shah to put military vehicles on the streets to replace those of striking taxi drivers. But Iran's theocracy faces a growing squeeze from the country's rapidly depreciating rial currency and economic sanctions imposed due to Tehran's nuclear program. That has made the cost of having some of the world's cheapest gasoline at a few pennies per gallon that much more expensive. However, the government's hesitant move toward increasing prices likely signals it wants to avoid any confrontation with the nation's exhausted public after Israel launched a 12-day war on the country in ..

A second vessel, the Sard, is currently at the western Indian port of Vadinar used by Nayara, set to lift about 43,000 tons of diesel

Oil tanker Tempest Dream, carrying about 43,000 metric tons of gasoline, sailed out on August 4, according to the sources and shipping data

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Russia banned gasoline exports for six months from March 1 except to a Moscow-led economic union and some countries, with which it has direct inter-government agreements on fuel supplies

According to sources' calculations, it could bring in additional 10%, or between 300,000 metric tons and 350,000 tons a month, of gasoline to the domestic market, enough to meet rising seasonal demand

The ban, first reported by Russia's RBC, was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak, President Vladimir Putin's point man for Russia's vast energy sector

This time, the ban will not extend to member states of the Eurasian Economic Union, Mongolia, Uzbekistan and two Russian-backed breakaway regions of Georgia - South Ossetia and Abkhazia

India's goal of raising ethanol blending in petrol to 20% from 2025/26 remains intact, Oil Secretary Pankaj Jain said

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BPCL is seeking to sell at least 40,000 metric tons of 10ppm sulphur gasoil loading Oct. 26-27 from Kochi, according to a document seen by Reuters

Russia has announced a ban on exports of gasoline and diesel fuel, aiming to stabilise rising domestic prices and improve the country's fuel supply. The government decree issued on Thursday said the restrictions would be temporary but did not give a date for them ending. The move was expected to lead to increased fuel prices in the world market. Russia's exports of diesel fuel are estimated at about 9,00,000 barrels a day and the country has exported 60,000-1,00,000 barrels of gasoline daily, state news agency Tass reported. Tass said domestic fuel prices dropped by about 4 per cent after the ban was announced. The ban will not apply to other countries in the Moscow-led Eurasian Economic Union trading bloc Armenia, Belarus, Kyrgyzstan and Kazakhstan.

The local sale of diesel by private refiners is also denting sales by state-run companies, the official said

Heavy rains in some growing areas and hotter-than normal temperatures last month hit output of the crop, causing a fivefold increase in prices this year

Monsoon rains also reduce demand from the agriculture sector as less irrigation-related requirements decrease

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Gasoil accounts for about two-fifths of refined fuel consumption in India and is directly linked to industrial activity

The Consumer Price Index (CPI) climbed 0.1% last month after advancing 0.4% in February, the Labor Department said on Wednesday

The extension of rules may discourage some Indian refiners, mainly private companies, from buying Russian fuels for re-exports to countries