 | Oil prices at seven-month low but no change in petrol, diesel prices in IndiaInternational benchmark Brent crude fell below USD 90 per barrel last week for the first time since early February as recession fears weigh on demand. |
 | Karnataka opposition demands tax cuts, decrease in fuel prices citing fall in crude oil ratesCiting 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. |
 | Indian Oil Corporation sees 66.46 per cent decline in net profit in Q1 FY23This is the first quarterly loss reported by the company in the past two years. The company had posted a net profit of Rs 5,941.37 crore in the same period a year ago. |
 | Maharashtra government cuts VAT on petrol and diesel; state exchequer to incur burden of Rs 6,000 crore: CM ShindeThe government will ensure the burden of Rs 6,000 crore on the state exchequer does not impact development works, Shinde said. |
 | Sri Lanka hopes for improved fuel availability with more shipments reaching this monthMeanwhile, due to the current fuel shortage, the Education Ministry declared next week from July 4 to July 8 as a holiday week for all government and state-approved private schools. |
 | Pakistan steeply hikes petroleum prices under deal with IMF to revive bailout programmeThe Pakistan government imposed a Rs 10 per litre petroleum levy on petrol and Rs 5 each on high-speed diesel (HSD), kerosene and light diesel oil (LDO). |
 | Sri Lanka is exploring options to purchase oil from Russia: MinisterOn Sunday, petrol price was hiked by LKR 50 and diesel by LKR 60 respectively, the third price revision in just over two months. |
 | Upside risks to fiscal deficit emerges following duty cut on fuel: Finance MinistryRationalising non-capital expenditure has thus become critical, not only for protecting growth supportive capital expenditure but also for avoiding fiscal slippages. |
 | Selling diesel at Rs 20-25/litre loss, petrol at Rs 14-18/litre loss: Private retailers to governmentInternational crude oil has risen sharply to a decade high but state-owned fuel retailers with 90 per cent market, have frozen petrol and diesel prices at rates equivalent to two-third of the cost. |
 | Huge rush for refilling vehicles in Kashmir amid rumours of fuel shortageHundreds of vehicles were lined up at almost every fuel station, waiting for their turn to be refilled, leading to traffic jams in some parts of the city and elsewhere in the valley as well. |
 | Indian crude oil basket hits 10-year high; petrol, diesel prices unchangedAs per the PPAC, the Indian basket of crude oil averaged USD 111.86 per barrel between February 25 and March 29 - the immediate period after Russia's invasion of Ukraine sent oil on fire. |
| Petrol pumps in 24 states not to buy fuel on Tuesday, demand higher commissionAccording to an association, the dealer margins are to be revised every six months but the OMCs have not done the same since 2017 despite a steep increase in fuel prices and operational costs. |
 | UP govt reduces VAT on fuel to further bring down diesel, petrol prices in stateThis will bring down the effective prices by Rs 8 on diesel and approximately Rs 10 on petrol |
 | Reduce taxes on fuel like other States: Naidu to govtWhat wrong had the people of AP committed that the YSRC regime had failed to provide any additional relief to them on its part? the Leader of Opposition asked. |
| Oil companies slap hidden hike in petrol base priceA hidden increase in the base price of petrol by oil companies has deprived consumers of the full benefits of the tax cut announced by the Central government. |
| Maharashtra, Kerala, Rajasthan reduce VAT on petrol, diesel after Centre cuts excise dutyChidambaram on Sunday wondered whether the states can afford to give up revenue from the Value Added Tax on petrol and diesel unless the Centre devolves more funds or gives them more grants. |
 | Sitharaman rebuts Oppn flak on excise duty cuts, says move does not impact state sharing of taxesTaking to Twitter, Sitharaman said she is sharing some useful facts on levies on petrol and diesel for the benefit of all. |
 | "We will consider," says Karnataka CM on further cut in fuel taxBommai, last month was non-committal on any further cut in fuel tax by the state government, and had maintained that any decision in this regard will be taken after looking at the economy of the state. |
 | Petrol price cut by Rs 8.69, diesel by Rs 7.05 in DelhiThe excise duty cut will translate into a reduction of Rs 8.69 a litre on petrol in Delhi and Rs 7.05 in diesel per litre after taking into account its impact on other levies. |
 | Excise duty cut on Fuel price: Trinamool says BJP trying to fool massesTMC national spokesperson Sukhendu Sekhar Ray said the Centre has raised the prices of petrol and diesel at least 14 times in the past few months and by leaps and bounds in the past one year. |
