Shortly after US President Donald Trump announced in May he would reimpose sanctions on Iran, the State Department began telling countries around the world the clock was ticking for them to cut oil purchases from the Islamic Republic to zero.
Oil tumbled for a third straight week as crumbling equity markets across the globe stoked concern about a slowdown in energy demand growth Friday’s 0.4 percent gain New York-traded futures wasn’t enough to halt a 2.2 percent decline for the week.
VAT in Delhi is higher than neighboring Uttar Pradesh and Haryana.
The Delhi Petrol Dealers Association on Wednesday announced a one-day strike demanding a decrease in VAT over fuel prices. The association said that they will observe the strike from 6 am on 22 October to 5 am on 23 October.
Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of US sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist. International benchmark Brent crude
Prime Minister Narendra Modi Friday reviewed the oil and gas production profile of state-owned ONGC and OIL over the near to medium term to assess how his target to cut oil imports by 10 per cent would be met.
OPEC again sought to reassure markets after one of its biggest customers complained about the pain of high prices. “There is no cause for alarm,” OPEC secretary-general Mohammad Barkindo said Thursday, adding that India
Despite the prices of petrol and diesel hitting the roof, the government on Saturday appeared in no mood to take any step to soften their impact on the common man.
The Director General of Hydrocarbons on Wednesday said the ongoing Discovered Small Filed (DSF) second round bidding, once completed, will entice about $1.2 billion worth of investments by the successful bidders.
The government will not cut excise duty on petrol and diesel to cushion spiralling prices, which touched fresh highs Tuesday, as it has limited fiscal space available to take any dent in revenue collections, a top official said.
Criticising the Narendra Modi-led government for the continuous rise in fuel prices, Andhra Pradesh Chief Minister Chandrababu Naidu said that soon petrol would be sold at Rs 100 per litre.