Oil PSUs News

Fuel prices in India hiked again for the sixth time There are several factors which control petrol and diesel prices Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges

The nation's biggest oil firm, IOC will source the fuel from its Mathura refinery, while Hindustan Petroleum Corp Ltd (HPCL) will do so from its joint venture refinery at Bhatinda. Bharat Petroleum Corp Ltd (BPCL) supply the fuel from its Bina refinery.

In a bid to improve operational efficiency, the government Wednesday gave freedom to public sector oil firms to have their own independent crude import policy based on their commercial requirements.

This will provide a more efficient, flexible and dynamic policy for crude procurement, eventually benefiting the consumers.  

Months after the BJP government sacked most of the independent directors at top oil PSUs, the boards of blue chip firms like ONGC and GAIL are functioning with most of those positions still lying vacant.

Oil PSU Bharat Petroleum (BP) has raised petrol prices by almost 12 paise a litre at select fuel pumps here designated as platinum outlets.

ONGC will build toilets in 2,500 in 26 districts spread over 13 sates, IOC 1,000 toilets, especially for girls, GAIL 1,021 toilets while refiners Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) will together build 900.