Diabytes
Oil Marketing Companies News
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The report notes that stable retail fuel prices amid volatile oil prices will help support overall returns for the industry.
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OMCs are projected to see operating profit drop to $12-14 per barrel in fiscal 2025 from $20 per barrel last fiscal.
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Petrol- Diesel prices vary because of regional taxes.
Petrol- Diesel price updates every morning at 6 AM.
The flip-flop trend in the price of crude oil.
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Oil Marketing Companies(OMCs) like Indian Oil, Bharat Petroleum, and Hindustan Petroleum update petrol and diesel price in different cities every morning based on foreign exchange rates and international benchmark prices. However, the price of petrol and diesel has remained unchanged for a long time.
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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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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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The price of ethanol from C heavy molasses route be increased from Rs 43.46 per litre to Rs 43.75 per litre.
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Pradhan Mantri Ujjwala Yojana (PMUY) was launched by the government May 2016.
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It is learnt that supply of ATF has been suspended for Air India's domestic flights.
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OMCs will not be required to hedge their exposure.
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The increase is based on assumption that global price of diesel and petrol and Rupee-US Dollar exchange rate remain stable hereon.
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This time around Indian Oil Corp (IOC), Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) have reportedly been asked to absorb up to Re 1 a litre hike.
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Government has reportedly asked the OMCs to absorb Re 1 per litre price hike of petrol and diesel.
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The quantum of hike was doubled through an order dated May 30, 2017.
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The move comes after LPG subsidies of millions of customers have been credited to the Airtel Payments Bank accounts without their permission.
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Petrol pump dealers on Wednesday called off their proposed strike on October 13, according to industry body United Petroleum Front (UPF).
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The deadline for installation of new security devices will be decided next week.
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As the oil marketing companies have come up with a decision to hike the dealer commisison they shell out to fuel pump owners, customers must get ready to pay more for petrol and diesel.
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