All posts tagged: fuel hike

What is preventing PM Modi from buying cheaper oil and gas from Russia, Iran,’ asks Arvind Kejriwal

What is preventing PM Modi from buying cheaper oil and gas from Russia, Iran,’ asks Arvind Kejriwal

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Kejriwal said rising petrol and diesel prices were increasing the financial burden on citizens already struggling with inflation. He questioned why India is not importing cheaper oil and gas from Russia and Iran despite both countries being willing to supply fuel at lower rates Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

India’s state oil companies struggle under mounting fuel subsidy burden amid West Asia tensions

India’s state oil companies struggle under mounting fuel subsidy burden amid West Asia tensions

Published by Webster

India’s state-owned oil companies (OMCs) are facing growing financial pressure after absorbing massive losses to shield consumers from the impact of soaring global energy prices triggered by the ongoing Middle East tensions, reported the PTI. For the last 10 weeks, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have continued selling petrol, diesel and cooking gas LPG at rates significantly below actual costs, despite a steep rise in crude oil prices, the news agency reported. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link