Fuel - The Purbottar

07 Aug

No change in fuel prices in almost 3 weeks

editor0 CommentsBusiness, IndiaFuel

Oil marketing companies (OMC) continue to pause fuel price revision for the 20th consecutive day on Friday as a wait and watch policy continues amid fluctuating global crude prices. Global crude prices have swung in all directions in July starting with a low of $70 a barrel to quickly breaching to $77 a barrel, and then fall below $70 a barrel to crossing $75 a barrel later in the month. The oil prices have softened again to just over $70 a barrel on concerns of growing Covid cases, slowing industrial recovery globally and rising US oil inventory. With no price…

26 Jul

No revision in petrol, diesel prices

editor0 CommentsBusiness, IndiaBusiness, Fuel

Oil marketing companies (OMC) continued to pause fuel price revision for the ninth consecutive day on Monday, the longest period in weeks, as global development on oil production and rising US inventories has softened crude and product prices. However, they stopped short of reducing the retail price of petrol and diesel as more time will be required to study oil price movement before any downward revision. Already, crude has firmed a bit for last few days and this could prevent price cut by OMCs. With no change in prices on Monday, petrol continues to be sold in the national capital…

22 Jul

Fuel prices remain unchanged for 5th day

editor0 CommentsBusiness, IndiaFuel

Oil marketing companies (OMC) continued the pause on fuel price revision for the fifth consecutive day, the longest period in weeks, as global development on oil production and rising US inventories softened crude and product prices. Accordingly, in the national capital, petrol continued to be sold at Rs 101.84 per litre, while diesel remained unchanged at Rs 89.87 a litre on Thursday. The pump price of fuel has been static since Sunday. It rose on Saturday with petrol being revised upwards by 30 paisa per litre while diesel prices remained unchanged. One of the main reasons for pause in fuel…

19 Jul

FASTag to enhance contactless refueling at Indian Oil fuel outlets

editor0 CommentsIndia, Tech ByteFuel, IndianOil

State-run Indian Oil Corporation Ltd and ICICI Bank are offering cashless and contactless refuelling through FASTag at the country’s largest oil marketing company’s outlets to reduce wait time for customers. “ICICI Bank FASTag users can now enjoy a fully digitized experience at IndianOil’s fuel stations which will reduce wait time for customers,” the firms said in a joint statement. To avail of this facility, customers must inform the customer attendant while fuelling, then scan the vehicle’s FASTag/car number plate. The customer will then receive an OTP to validate the transaction. The transaction will be completed when the OTP is entered…

16 Jul

No fuel price hike on Friday

editor0 CommentsBusiness, IndiaFuel

Oil marketing companies kept the retail price of petrol and diesel unchanged on Friday to analyse the global oil price movement before making further revisions. Accordingly, petrol continues to be priced at Rs 101.54 a litre and diesel 89.87 a litre in the national capital. On Thursday, oil companies raised the price of petrol and diesel by 35 paise and 15 paise per litre respectively in the National capital taking the fuel rates to new highs. Across the country as well the fuel prices remained unchanged on Friday but the rates varied depending on the level of local taxes in…

14 Jul

No fuel price hike for 2nd day in a row

editor0 CommentsBusiness, IndiaBusiness, Fuel

The oil marketing companies kept the retail price of petrol and diesel unchanged on Wednesday, the second consecutive day of no change, to analyse the global oil price movement before making further revisions. After crossing $77 a barrel, global crude prices have softened a bit with differences surfacing in oil cartel OPEC over continuation of production cuts and demand concerns over rising Covid cases in several European countries. With price pause on Wednesday, petrol continues to be priced at Rs 101.19 a litre and diesel at 89.72 a litre in the national capital. On Monday, oil companies had raised the…

12 Jun

Hike on the price of Petrol by 57 / litre

editor0 CommentsBusinessBusiness, Coronavirus, Covid-19, Fuel

Petrol price gets hiked by 57 paise per litre and diesel by 59 paise per litre as oil companies adjusted retail rates - the sixth straight day of increase in rates since oil firms adjusted their rates.Petrol price in Delhi was hiked to Rs 74.57 per litre from Rs 74, while diesel rates were increased to Rs 72.81 a litre from Rs 72.22, according to a price notification of state oil marketing companies.Rates have been increased across the country and vary in each state depending on the local sales tax or value added tax.This is the sixth consecutive daily increase in rates since oil…