14 Mar 2020
Excise duty on petrol, diesel hiked Rs. 3 per liter
The government on Friday announced an increase in excise duty on petrol and diesel by Rs. 3 per liter, the steepest hike in eight years.
09 Mar 2020
Petrol, diesel prices fall; check new rates here
The prices of petrol and diesel fell for the fifth consecutive day on Monday as the global coronavirus outbreak had a ripple effect on crude oil rates.
09 Mar 2020
Oil plunges 30% as Saudis begin price war with Russia
Oil prices crashed by 30% on Monday after Saudi Arabia slashed prices launching a price war against Russia.
20 Jan 2019
Fuel prices witness sharp rise; petrol gets costlier by 23p
Fuel prices on Sunday witnessed a sharp hike for the fourth straight day as state-run oil companies increased the rate of petrol by 23 paise a liter while diesel became costlier by 29-31 paise per liter across the four major metro cities in India.
10 Jan 2019
Saudi Arabia to cut oil exports by 10% in January
OPEC kingpin Saudi Arabia will slash its oil exports in January by 10% compared to November, its energy minister said yesterday as producers move to shore up tumbling prices.
12 Dec 2018
Oil-producers to review cuts impact, sign pact in April: UAE
Oil producers, who earlier agreed to trim production to boost prices, will meet in April to review the impact and sign a long-term pact, the UAE's Energy Minister said.
06 Dec 2018
Rupee falls 54 paise, touches 71 level against US dollar
The rupee depreciated by 54 paise and hit the 71 per dollar mark in early trade today, amid the strengthening of American currency and a weak opening in the domestic equity market.
03 Dec 2018
Qatar to quit OPEC in January 2019
On Monday, Qatar announced that it would withdraw from the Organization of the Petroleum Exporting Countries (OPEC), effective January 2019.
28 Nov 2018
Rupee falls 10p to 70.89 against USD in early trade
The rupee depreciated by 10 paise to 70.89 against USD in early trade today at the interbank foreign exchange amid strengthening of the USD against some currencies overseas.
12 Nov 2018
Saudi Minister calls for 1mn bpd global oil output cut
Following a drop in crude prices, oil producing countries should cut output by one million barrels per day (bpd) to re-balance the market, Saudi Arabia's energy minister Khalid al-Falih told at an energy conference in Abu Dhabi today.
08 Jul 2018
Iran accuses Donald Trump of destabilizing the oil market
Iran today accused US President Donald Trump of destabilizing the oil market with his flurry of tweets taking aim at the OPEC cartel.
05 Jul 2018
Petrol, diesel prices hiked for first time after a month
Petrol and diesel prices were today hiked for the first time in more than a month on the back of rising international rates and weakening rupee.
28 May 2018
Asia energy firms dive with oil-prices; Trump-Kim summit revives hope
Energy firms plunged with oil prices in Asia today after Saudi Arabia and Russia signaled they could lift output, while indications that Donald Trump's summit with North Korean leader Kim Jong-un could be back on provided support to equity markets.
18 May 2018
Petrol/diesel prices hiked for 5th day; expected to increase further
Another day, another hike - petrol and diesel prices have now risen for the fifth consecutive day.
11 Apr 2018
PM calls for responsible pricing for affordable energy to all
Addressing the International Energy Forum in Delhi, PM Narendra Modi on Wednesday called for reasonable and responsible pricing to provide easy access to affordable energy to all.
10 Jun 2017
US calls on Arab countries to ease Qatar blockade
The US has called on Saudi Arabia, UAE, Egypt and Bahrain to ease their blockade on Qatar.
08 Jun 2017
Petrol prices to change daily across India from June 16
Starting June 16, state-run oil marketing companies including Indian Oil would start daily revision of prices of petrol and diesel in the entire country, reported ANI.
07 Jun 2017
Qatar's isolation marks the beginning of end to terrorism: Trump
Weighing in on the ongoing Middle East diplomatic crisis, President Trump stated that his trip to Middle East was already paying off, referring to Arab countries hardening stance against funding extremism.
22 May 2017
India to leverage market size for OPEC deals
Sources have confirmed that India would attempt to leverage its market size at the upcoming meeting of OPEC ministers in Vienna, to secure better deals for oil.
18 May 2017
Iraq surpasses Saudi to top Indian oil supplies
Iraq has surpassed Saudi Arabia, to become the top supplier of Oil to India, according to Reuters.
12 Apr 2017
Petrol, diesel prices to change every day from May 1
From May 1 petrol and diesel prices in five Indian cities will change every day to synchronize them with international rates.
13 Feb 2017
IT, pharma cautious, gold investors rejoice over Trump temper
Uncertainties surrounding US President Donald Trump's trade policies have reinforced Indians' faith in gold being a safe asset.