An official from one of the OMCs, on condition of anonymity, said oil companies have suffered a major loss in the past few quarters, thus there is no scope to cut the fuel price.
The basket of crude oil that India buys has averaged USD 92.67 per barrel in September as against USD 97.40 in the previous month.
This is the second instance since RBI adopted the inflation targeting approach that the retail inflation has breached the upper tolerance limit of 6 per cent for eight consecutive months.
"It is said that the decision to cut short the fuel distribution to Hindustan Petroleum Corporation Limited (HPCL) pumps has resulted in shortage," Sivadasan's letter read.
Congress spokesperson Gourav Vallabh asked why the consumers had to bear the brunt of high fuel prices when crude oil prices were at a seven-month low.
International benchmark Brent crude fell below USD 90 per barrel last week for the first time since early February as recession fears weigh on demand.
Truss said "decades of short-term thinking on energy" and failing to secure supplies had left Britain, which is heavily reliant on gas for its energy needs, vulnerable to price shocks.
Scindia speaks about measures taken to reduce Aviation Turbine Fuel (ATF) prices and the growth plans for the aviation sector.
Four experts from the fitness industry in Chennai speak about their journeys and how movement is the new game changer in the city
Govt also raised windfall tax on domestically-produced crude from C13K to C13,300 a tonne
The US agency said that the concentration of greenhouse gas in the atmosphere stood at 414.7 parts per million in 2021, 2.3 parts higher than in 2020.
Petrol sales, which had dipped 5 per cent in July, increased 5.8 per cent to 2.81 million tonnes in August when compared with 2.66 million tonnes of demand in the previous month
The CIL chief had said earlier that the company was in discussion with all "stakeholders" on revising coal prices in the wake of a jump in operational cost.
Australia recently provided $75 million to Sri Lanka as part of food and medicine aid.
Citing falling crude oil rates, opposition leaders in Karnataka have demanded that the government bring down prices of petrol and diesel, to ease the burden on the common man.
The Modi government’s excuse that international crude oil prices are the reason for the increase in fuel prices has once again been proven wrong, remarked Rama Rao.
Sri Lanka is planning to cut the budget deficit to 6.8 per cent of gross domestic product in 2023 from an expected 9.9 per cent in 2022," said Bandula Gunawardena, the Cabinet spokesman.
Techies who have moved to Bengaluru after working in other countries, are demanding spaces to walk and cycle.
The world's best-known crude benchmark, Brent was trading at USD 94.91 per barrel after concerns of a global recession led to it slipping to a six-month low of USD 91.51 on the previous day.
Elevated ATF prices, rupee depreciation likely to pose threat to domestic carriers' recovery: Report
In India, ATF accounts for around 45 per cent of the operational cost of an airline. Besides, as much as 35-50 per cent of the airlines' operating expenses are US dollar driven, as per ICRA.