Diabytes
Crude oil price News
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Iran-Israel conflict 2025 drived oil prices up, threatening higher fuel, food costs in India.
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Russia simply refused to give discounted crude oil to Pakistan. A delegation of Pakistani officials had sought 30 to 40 per cent discount on crude oil in talks with Russian officials. But, on the very next day of this conversation, Russia flatly refused to give any kind of discount to Pakistan in crude oil.
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Russia has bluntly told Pakistan that it will not give it cheap crude oil like India. For the second time in two months, a delegation of the Government of Pakistan went to Moscow. There it appealed to the Vladimir Putin government to supply oil to Pakistan at a 40% discount.
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The downward trend in the price of crude oil continues.
Petrol- Diesel price updates every morning at 6 AM.
Petrol- Diesel prices vary because of regional taxes.
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The downward trend in the price of crude oil continues.
Petrol- Diesel price updates every morning at 6 AM.
Petrol- Diesel prices vary because of regional taxes.
)
The downward trend in the price of crude oil continues.
Petrol- Diesel price updates every morning at 6 AM.
Prices of petrol-diesel vary from state to state because of regional taxes.
)
The downward trend in the price of crude oil continues.
Brent crude's rate is 84.06 dollars per barrel on Monday.
Petrol- Diesel price updates every morning at 6 AM.
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EAM S Jaishankar has expressed concerns over the surge in oil price
He said that the spike in oil price is breaking India's back
He said this in the US in a joint press conference with US Secretary of State Antony Blinken
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External Affairs Minister S Jaishankar said that India is not a very rich country like America, nor is the per capita income of Indian people very high. That's why we will buy the goods from where we can get it cheaper. Addressing the Indian community in Bangkok, Thailand's capital, the External Affairs Minister has spoken about crude oil imports from Russia.
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No changes in prices of petrol and diesel.
Excise duty on fuel was cut on May 21, 2022.
OMCs revise fuel prices daily in line with international crude prices.
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EU governments will consider whether to impose an oil embargo on Russia.
Brent crude futures were up $4.44, or 4.1%, at $112.37 a barrel by 1321 GMT, adding to a 1.2% rise on Friday.
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The central government reduced excise duty on November 4, 2021, to provide relief from historically high prices.
The government reduced the duty on petrol by Rs 5 per litre and on diesel by Rs 10 per litre, resulting in significant reductions in fuel prices.
Later, in December 2021, the Delhi government cut the value-added tax on petrol from 30% to 19.40%.
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In fuel and power basket, deflation stood at 19.83 percent in May.
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US crude prices jumped 7% on Friday to their highest since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus.
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Energy markets went into a free fall on Monday with oil prices across variants plunging around 30 per cent, the biggest fall since the 1991 Gulf War. The slide comes after Saudi Arabia shocked the market by launching a price war after no consensus was arrived between OPEC and Russia to cut crude oil production as part of market stabilisation exercise.
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Tackling slowdown in the Indian economy will become very difficult if petrol and diesel prices move up due to a war between Iran and the US. The war will also hit the export of Indian basmati rice and tea to Iran.
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US crude futures were last up 11% at $61.10 a barrel, coming off highs on expectations other global oil suppliers would step in to lift output. Brent crude soared 13% at $68.06 after earlier rising to $71.95.
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U.S. light crude oil was 25 cents lower at $60.42, down 4.3 percent this week and off more than 20 percent since early October, putting it officially in bear-market territory.
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PM said crude oil prices at a four-year high was hurting global growth, causing inflation and upsetting budgets of developing countries like India.
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Two companies in India, a big buyer of Iranian oil, have ordered barrels in November, India`s oil minister said on Monday.
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