In a relief to people ahead of the Lok Sabha polls expected to be held in April-May, the government has decided to cut the price of petrol and diesel by Rs 2 per litre. The Ministry of Petroleum and Natural Gas said in a post on X that Oil Marketing Companies (OMCs) have informed that […]
In a significant development, state-run oil companies in India are reportedly considering a reduction in the prices of petrol and diesel next month, following their anticipated record-breaking net profits in the third quarter. Reports indicate that the combined net profits of the three oil marketing companies (OMCs) could surpass a staggering Rs 75,000 crore, prompting […]
India cut the windfall tax on diesel and crude oil on Thursday, according to a government notification. The government cut the windfall tax on crude oil to Rs 6,300 a tonne from 9,800 rupees a tonne while cutting the diesel windfall tax to 1 rupee per litre from Rs 2 per litre, the notification said. […]
In a significant development meant to provide relief to consumers and companies, the government has announced a cut in windfall taxes on important petroleum products, including crude oil, aviation turbine fuel (ATF), and diesel. The country’s fiscal policy will alter with the implementation of these tax cuts tomorrow. The windfall tax on petroleum crude would […]
Despite rising raw material costs, increase in the prices of petrol and diesel are improbable, due to the forthcoming general elections, according to Moody’s Investors Service. The price of petrol and diesel has been frozen for a record-breaking 18 months thanks to three state-owned gasoline retailers: Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and […]
Oil marketing companies (OMC) are likely to reduce prices of petrol and diesel, according to government sources. The companies have almost recovered their losses and are nearing normalcy as evident by their positive quarterly results. As a result, the expectation is for the companies to lower the prices of petrol and diesel since they no […]
With only a few days left for Ramzan, the Pakistan government has raised the price of petrol to Pakistani Rupee (PKR) 272 per litre, adding pressure on the inflation-weary people, Geo News reported. The Finance Division, in its fortnight bulletin, attributed the price hike to the depreciation of the Pakistani rupee against the US dollar […]
