Crude oil prices have been showing an upward trend globally, indicating a slight weakness in the US dollar
Oil prices dropped on Monday, extending a recent losing streak on concerns that an expected rise in US interest rates would weaken fuel demand
It still beat Q1 estimates despite decline on both YoY and sequential bases
Move to benefit RIL, ONGC and Oil India
Sri Lanka's state-run Ceylon Petroleum Corporation (CPC) on Sunday reduced the diesel and petrol retail prices, the first decrease after five hikes since February
Pakistan Prime Minister Shehbaz Sharif on Thursday slashed the price of petrol by PKR 18.50 per litre and diesel by PKR 40.54 per litre respectively, a move that comes after 4 rounds of massive hike
On the bourses, shares of RIL jumped 2.4 per cent in the intra-day trade, while those of ONGC rose 6.4 per cent.
MGL has increased the retail price of CNG by Rs 4/kg to Rs 80 and that of domestic PNG by Rs 3/SCM (standard cubic metre) to Rs 48.50, in and around Mumbai.
Industrial production growth zoomed to 19.6% in May, as per the National Statistical Office (NSO) data.
Under the BJP rule, the prices of domestic LPG cylinders went up by 157%, fuel prices broke all records and the "Gabbar Tax loot" and a "tsunami of unemployment" hit the country, he alleged.
LPG rates this week were hiked by Rs 50 per 14.2-kg cylinder, taking the total increase in last one year to Rs 244 or 30 per cent.
While the govt has introduced windfall tax and export curbs to arrest runaway prices, a lot depends on how the monsoon pans out this season
The government has levied Rs 6 per litre tax on ATF and petrol exports and imposed Rs 13 per litre tax on diesel exports
India's factory output expanded at its slowest pace in nine months in June. More on that in our top headlines
Rush to import petrol and diesel has already led to a surge in regional refining margins
Among the neighbouring countries, China (Rs 116 per litre) and Nepal (Rs 124 per litre) had a higher price.
The announcement came a day after Energy Minister Kanchana Wijesekera said there would be an indefinite delay in getting new shipments of oil
Sri Lanka has hiked petrol price by LKR 50 and diesel by LKR 60 respectively, the third price revision in over two months, as the country continues to reel under the worst economic crisis in decades
Seven oil companies are set to meet Biden on Thursday, under pressure from the White House to drive down fuel prices as they make record profits
Bolsonaro had already fired Coelho in May and named a replacement, but he remained in the role while the state-owned oil firm went through the formal procedures for appointing the next CEO