#petrol diesel price crude oil

[kissanfuel]

#petrolpump #petrol #fuel #diesel #india #petrolprice #fuelprice #oil #petrolprices #dieselprice #crudeoil #fuelprices #dieselprices #prices #indian #brentcrude #petrolstation #indianoil #crude #fueltank #blackgold #petrolpricehike #petroleum #cleanfuel #mcxmarket #mcx #mcxprice #petrolstations #fuelpump #fuelsolutions⛽ https://www.instagram.com/p/ChgXm1aP7Vx/?igshid=NGJjMDIxMWI=

[youpublic2022]

Petrol Diesel Price:पेट्रोल डीजल बेचने से सरकारी तेल कंपनियों को 10,700 करोड़ रुपये का नुकसान

Petrol Diesel Price:पेट्रोल डीजल बेचने से सरकारी तेल कंपनियों को 10,700 करोड़ रुपये का नुकसान

Petrol Diesel Price Latest Update: अंतरराष्ट्रीय बाजार में कच्चा तेल (Crude Oil) अभी भी 105 डॉलर प्रति बैरल के करीब फिलहाल ट्रेड कर रहा है. कच्चा तेल लगातार 100 डॉलर प्रति बैरल से ऊपर बना हुआ है लेकिन 6 अप्रैल के बाद से सरकारी तेल कंपनियों ( OIl Marketing Companies) ने पेट्रोल डीजल ( Petrol-Diesel) के दामों में कोई बढ़ोतरी नहीं की है. जिसके चलते तीनों सरकारी तेल कंपनियों को भारी नुकसान हो रहा है.…

[abhinandan890]

Petrol Diesel Price:पेट्रोल डीजल बेचने से सरकारी तेल कंपनियों को 10,700 करोड़ रुपये का नुकसान

Petrol Diesel Price:पेट्रोल डीजल बेचने से सरकारी तेल कंपनियों को 10,700 करोड़ रुपये का नुकसान

Petrol Diesel Price Latest Update: अंतरराष्ट्रीय बाजार में कच्चा तेल (Crude Oil) अभी भी 105 डॉलर प्रति बैरल के करीब फिलहाल ट्रेड कर रहा है. कच्चा तेल लगातार 100 डॉलर प्रति बैरल से ऊपर बना हुआ है लेकिन 6 अप्रैल के बाद से सरकारी तेल कंपनियों ( OIl Marketing Companies) ने पेट्रोल डीजल ( Petrol-Diesel) के दामों में कोई बढ़ोतरी नहीं की है. जिसके चलते तीनों सरकारी तेल कंपनियों को भारी नुकसान हो रहा है.…

[ddcenter18]

Petrol Diesel Price:पेट्रोल डीजल बेचने से सरकारी तेल कंपनियों को 10,700 करोड़ रुपये का नुकसान

Petrol Diesel Price:पेट्रोल डीजल बेचने से सरकारी तेल कंपनियों को 10,700 करोड़ रुपये का नुकसान

Petrol Diesel Price Latest Update: अंतरराष्ट्रीय बाजार में कच्चा तेल (Crude Oil) अभी भी 105 डॉलर प्रति बैरल के करीब फिलहाल ट्रेड कर रहा है. कच्चा तेल लगातार 100 डॉलर प्रति बैरल से ऊपर बना हुआ है लेकिन 6 अप्रैल के बाद से सरकारी तेल कंपनियों ( OIl Marketing Companies) ने पेट्रोल डीजल ( Petrol-Diesel) के दामों में कोई बढ़ोतरी नहीं की है. जिसके चलते तीनों सरकारी तेल कंपनियों को भारी नुकसान हो रहा है.…

[rudrjobdesk]

इन 5 तरीकों से बढ़ा सकते हैं अपनी कार का माइलेज, हर महीने बचेंगे हजारों रुपए

इन 5 तरीकों से बढ़ा सकते हैं अपनी कार का माइलेज, हर महीने बचेंगे हजारों रुपए

Car Mileage Increase Tips: अगर आप भी कार यूज करते हैं तो ये खबर आपके के लिए बेहद जरूरी है. क्योंकि कार चलाने वालों के लिए उसका माइलेज हमेशा से ही चिंता का विषय रहता है. कई बार नई कार होने के बावजूद सही माइलेज नहीं मिल पाता. या पुरानी कार होने पर भी यही परेशानी होती है. इसलिए हम आपको कुछ ऐसी ही टिप्स बताने जा रहे हैं, जिससे आप अपनी कार के माइलेज को बढ़ा सकते हैं. मैंटेन स्पीडहमेशा से यह सलाह दी…

[gofordigitalindia]

Unveiling the Essence of BPCL: Fueling India's Progress

In the realm of corporate acronyms, BPCL stands out as a distinctive abbreviation that carries significant weight in the energy sector. As we delve into the intricacies of the term, it becomes apparent that BPCL is not just a mere combination of letters; it represents a powerhouse in the oil and gas industry. In this article, we will unravel the mystery behind BPCL full form and explore the historical context, organizational structure, and the pivotal role that Bharat Petroleum Corporation Limited (BPCL) plays in shaping India's energy landscape.

Historical Perspective:

BPCL traces its roots back to the nationalization of the Burmah Shell Company in 1976. The government's visionary decision led to the formation of Bharat Refineries Limited, which later merged with the Kochi Refineries Limited in 1977 to create Bharat Petroleum Corporation Limited. This consolidation marked the beginning of an era where BPCL emerged as a key player in the oil and gas industry.

BPCL's primary business activities involve refining crude oil, marketing petroleum products, and exploring new avenues within the energy domain. With a strong focus on innovation and sustainable practices, BPCL has adapted to the evolving energy landscape, consistently meeting the nation's growing demand for fuel and energy.

Core Functions:

Refining Operations:

BPCL operates refineries strategically located across India, including Mumbai, Kochi, and Bina. These refineries are equipped with state-of-the-art technology to process crude oil efficiently. The refined products encompass a wide spectrum, ranging from petrol and diesel to aviation fuel and petrochemicals.

Marketing and Distribution:

One of BPCL's distinctive strengths lies in its extensive marketing and distribution network. The company caters to a diverse consumer base through a vast chain of retail outlets, making its presence felt in urban as well as remote areas. BPCL's commitment to quality ensures that customers receive reliable and top-notch products.

Exploration and Production:

While BPCL is primarily known for its downstream activities, it has also ventured into upstream activities such as exploration and production. The company has engaged in strategic partnerships and initiatives to secure energy resources, contributing to India's energy security.

Diversification and Innovation:

Recognizing the dynamic nature of the energy sector, BPCL has consistently diversified its portfolio. The company has explored renewable energy sources, biofuels, and other sustainable alternatives to ensure a well-rounded approach to the nation's energy needs. Innovation remains a driving force, with a focus on cleaner and greener solutions.

Socio-Economic Impact:

BPCL's impact extends beyond its operational scope, influencing various facets of India's socio-economic landscape.

Employment Generation:

The company serves as a significant source of employment, directly and indirectly, contributing to the livelihoods of numerous individuals. From skilled technicians to managerial roles, BPCL's diverse workforce plays a crucial role in the nation's economic prosperity.

Infrastructure Development:

BPCL's extensive network of refineries, terminals, and retail outlets has spurred infrastructure development in regions where it operates. This not only facilitates efficient supply chains but also enhances connectivity and accessibility.

Government Revenue and Energy Security:

As a key player in the energy sector, BPCL contributes significantly to the government's revenue through taxes and dividends. Additionally, by actively participating in exploration and production activities, the company plays a vital role in ensuring India's energy security.

Challenges and Future Prospects:

While BPCL has achieved commendable success, it faces challenges that accompany the rapidly changing global energy landscape. Fluctuating oil prices, geopolitical uncertainties, and the shift towards renewable energy pose both threats and opportunities for the company. To navigate these challenges successfully, BPCL is actively investing in research and development, exploring cleaner technologies, and fostering collaborations with global energy leaders.

The future holds immense potential for BPCL as it embraces sustainability and aligns its strategies with the evolving energy scenario. The company's commitment to innovation, coupled with its vast experience and nationwide presence, positions it as a key player in shaping India's energy future.

Global Presence and Strategic Alliances:

In addition to its formidable domestic footprint, BPCL has actively pursued global engagements and strategic alliances to enhance its capabilities and contribute to the global energy landscape. The company has entered into partnerships with international entities, fostering collaborations in areas such as technology transfer, exploration, and knowledge exchange. These global endeavors not only strengthen BPCL's position but also bring valuable insights and advancements to the Indian energy sector.

One notable example of BPCL's global reach is its joint venture with Oman Oil Company, named Bharat Oman Refineries Limited (BORL). This collaboration resulted in the establishment of a state-of-the-art refinery in Bina, Madhya Pradesh, showcasing BPCL's commitment to international partnerships for mutual growth.

Commitment to Sustainability:

As the world grapples with environmental challenges, BPCL has taken significant strides toward sustainability. The company is actively involved in the production of biofuels, promoting cleaner alternatives to traditional fossil fuels. By blending biofuels with conventional fuels, BPCL reduces the carbon footprint of its products, contributing to India's commitment to a greener and more sustainable future.

Furthermore, BPCL has incorporated eco-friendly practices in its operations, emphasizing energy efficiency, waste reduction, and environmental conservation. The commitment to sustainability aligns with global efforts to combat climate change and positions BPCL as a responsible corporate citizen.

Digital Transformation and Customer-Centric Approach:

In an era of rapid technological advancements, BPCL has embraced digital transformation to enhance operational efficiency and customer experience. The company has implemented cutting-edge technologies to streamline processes, monitor supply chains, and optimize production. This not only improves overall efficiency but also positions BPCL as a technologically progressive entity in the energy sector.

BPCL's customer-centric approach is evident in its efforts to enhance user experience at retail outlets. The introduction of digital payment options, loyalty programs, and innovative marketing strategies reflects the company's commitment to meeting the evolving expectations of its diverse consumer base.

Corporate Social Responsibility (CSR) Initiatives:

Beyond its core business functions, BPCL actively engages in corporate social responsibility initiatives, demonstrating a commitment to giving back to society. The company invests in education, healthcare, environmental conservation, and community development projects, contributing to the holistic development of the regions it operates in. Through its CSR endeavors, BPCL seeks to make a positive impact on the lives of communities and foster sustainable and inclusive growth.

Regulatory Compliance and Quality Assurance:

In the highly regulated oil and gas industry, BPCL places a strong emphasis on compliance with safety and environmental standards. The company adheres to stringent quality control measures, ensuring that its products meet or exceed regulatory requirements. This commitment to quality assurance not only safeguards the interests of consumers but also reinforces BPCL's reputation as a reliable and responsible player in the market.

Conclusion:

Bharat Petroleum Corporation Limited, with its rich history, diverse operations, and unwavering commitment to excellence, stands as a beacon in India's energy sector. From refining crude oil to embracing renewable energy, BPCL has demonstrated resilience and adaptability, reflecting its dedication to fueling India's progress. As the nation marches towards a sustainable and energy-efficient future, BPCL remains at the forefront, embodying the spirit of innovation and progress in the Indian energy landscape.

[noisynutcrusade]

Goodbye discounts, petrol prices are rising again

A new flare-up arrives for energy prices, this time due to the events in the Red Sea, where the Houthi rebels of Yemen (linked to Iran) target ships and have already induced various shipping companies to interrupt transits. And since a significant share of global oil traffic passes through there, the prices of crude oil, wholesale refined products and (consequently) petrol and diesel at the pump…

[olko71]

New Post has been published on All about business online

New Post has been published on https://yaroreviews.info/2023/12/petrol-prices-fall-to-lowest-level-in-two-years

Petrol prices fall to lowest level in two years

Getty Images

By Michael Race

Business reporter, BBC News

Petrol prices have fallen to lowest level at the pumps on average for more than two years, the RAC has said.

A litre of unleaded costs about £1.43 on average, a price which was last seen at UK forecourts in October 2021.

A fall in wholesale fuel costs has resulted in lower pump prices, the RAC said, adding that petrol could fall below £1.40 in the next week.

The drop also comes after the UK competition watchdog warned that drivers were not getting a fair deal.

The Competition and Markets Authority (CMA) said last month that retail prices for petrol and diesel had not fallen in step with wholesale costs, adding that there was “cause for concern” competition in the fuel market was not working.

The RAC, which has criticised supermarkets and petrol retailers over pricing, said petrol falling to £1.43 on average – about 10p cheaper than this time last year – was “good news for drivers, especially as prices should continue to come down in the run-up to Christmas due to the wholesale price being significantly lower”.

“While the biggest retailers haven’t announced any headline-grabbing big cuts, prices are falling steadily every day which is encouraging. We just have to hope this continues in the coming days,” said Simon Williams, the motoring group’s fuel spokesman.

He added while diesel was not as lower at around £1.50 on average, it was “still down from last Christmas’ dizzying prices of around £1.75 a litre”.

Fact v fiction: Five tips for saving petrol money examined

Fuel prices still cause for concern, says watchdog

Drivers have been stung by higher fuel prices in recent years.

The cost of filling up began rising as demand increased when coronavirus lockdowns were eased, and jumped further after Russia invaded Ukraine last year. Fears over oil global supplies saw the price of a barrel of Brent crude, a key ingredient in motor fuel, to hit more than $120 in June 2022.

That in turn drove pump prices, which peaked in July at a record £1.92p a litre for petrol and £1.99 for diesel.

While oil prices fell back from the peak, fuel prices also dropped, but concerns were raised that supermarkets, typically the cheapest fuel retailers, and other forecourts were not passing on the lower wholesale prices to customers.

An investigation in July found Britons were found to have paid an extra 6p per litre for fuel at supermarkets last year as weak competition let them charge more. The fallout led to retailers agreeing to set up a scheme to allow motorists to compare live fuel prices online.

In recent months, concern over fuel prices returned as petrol rose for four months in a row. This came as oil prices increased again after major oil producers, such as Saudi Arabia and Russia, decided to restrict production.

On Friday, Brent crude was around $77 a barrel and the RAC’s Mr Williams said if wholesale prices “are reflected more fairly at the pumps” in the next next week “we should see the average price of petrol drop below 140p [per litre]”.

How to save money on petrol and diesel

Watch your speed: The RAC says 45-50mph is the most efficient speed to drive for fuel efficiency

Switch off the air conditioning: Extra energy is needed to power a car’s air conditioning system and turning it on can increase your fuel consumption by up to 10%, according to the AA

Check your tyre pressure: Underinflated tyres will use up extra petrol. Check your pressures regularly, especially before heading off on a long journey

Related Topics

Fuel

Oil & Gas industry

Motoring

More on this story

Petrol prices rise for fourth month in a row – RAC

4 October

[futuretonext]

The Global Microcar market is projected to grow at a CAGR of around 9.24% during the forecast period, i.e., 2023-28. Some factors that have attributed to the growth are a smaller design, which makes it easier to maneuver the vehicle in tightly constrained traffic & lean roads, better fuel efficiency, inexpensive pricing, attractive designs, etc. With the rapid increase in the prices of petrol & diesel due to volatility in the international crude oil prices, many traditional as well as first-time car owners gravitated towards the small-compact-sized cars that could be a better alternative to large vehicles for single-person mobility in city traffic conditions.

[kissanfuel]

#petrolpump #petrol #fuel #diesel #india #petrolprice #fuelprice #oil #petrolprices #dieselprice #crudeoil #fuelprices #dieselprices #prices #indian #brentcrude #petrolstation #indianoil #crude #fueltank #blackgold #petrolpricehike #petroleum #cleanfuel #mcxmarket #mcx #mcxprice #petrolstations #fuelpump #fuelsolutions⛽ https://www.instagram.com/p/ChgXhhXPF9p/?igshid=NGJjMDIxMWI=

[thxnews]

UK Fuel Prices Surge: CMA Raises Retail Competition Concerns

  Summer Spike and Supermarket Margins

Since May 2023, UK fuel prices have experienced a significant surge, leaving drivers grappling with an increase of at least 11 pence per litre. The Competition and Markets Authority (CMA) is sounding the alarm after observing a troubling trend in retail fuel spreads during the autumn months.   CMA's Call for Oversight and Government Action In July 2023, the CMA proposed the establishment of a monitoring body to revitalize competition in the road fuel market. The UK government embraced the recommendation, with the CMA now publishing its first report, indicating a need for ongoing scrutiny. While awaiting formal legislation, the CMA plans to release quarterly reports, shedding light on the dynamics of the market.  

Fuel Prices Analysis

The CMA's examination of fuel prices from May to October 2023 reveals a complex narrative. Petrol and diesel prices have collectively risen by 11.1 and 13.9 pence per litre, respectively. Global factors, such as increased crude oil prices, played a role during the summer months. However, a lack of competitive response from fuel retailers in the face of decreasing wholesale prices in September and October raises concerns about sustained trends.   Pump Price Breakdown For petrol, prices surged from 142.9ppl in May to 154.0ppl by October. Diesel experienced a similar trajectory, with prices climbing from 147.9ppl to 161.8ppl over the same period. The CMA remains vigilant, monitoring developments to draw conclusive insights.  

Fuel Margin Decline for Supermarkets

Supermarkets' fuel margins, the difference between purchase and selling prices, experienced a notable decline from May to August. Although average margins fell by around 4.5ppl during this period, the CMA acknowledges that September and October data is pending. This decline, while observed, still keeps 2023 margins higher than any year before 2021.   Retail Spread Analysis Raises Concerns Examining the retail spread, the CMA notes significant increases in September and October for both petrol and diesel. The retail spread at the end of October exceeded the long-term average of 5-10ppl, sparking concerns about the intensity of retail competition. The CMA emphasizes the need for sustained monitoring to gauge the sector's competitiveness.  

Data Collection Challenges and CMA's Response

Despite challenges in data collection, the CMA issued requests for information to major retailers. Responses were received from a significant number, but the absence of two major retailers limited the depth of the analysis. The CMA's Chief Executive, Sarah Cardell, emphasizes the importance of a comprehensive and permanent monitoring system to capture the market's full dynamics.   Sarah Cardell's Insight and Call for Ongoing Monitoring Sarah Cardell, Chief Executive of the CMA, highlights the mixed factors influencing rising pump prices. While summer saw increased wholesale costs, recent trends are cause for concern about the effectiveness of competition. Cardell stresses the importance of continuous monitoring and calls for the establishment of a permanent fuel monitor with broader information-gathering powers.  

Temporary Pricing Data Scheme and Future Legislation

CMA's Efforts for Transparency Separately, the CMA's temporary pricing data scheme, involving 12 retailers, aims to provide open and transparent pricing information. Representing over 40% of UK forecourts, this scheme aids third parties like petrolprices.com and the AA. The UK government plans to legislate for a mandatory, real-time pricing data scheme, consulting on it later this year.  

Supermarkets Maintain Competitive Edge

Despite the challenges, supermarkets remain, on average, cheaper than other retailers, maintaining a pricing gap of 4-6ppl since 2017. The CMA's ongoing efforts seek to ensure transparency and competition in the UK fuel market, providing relief to drivers feeling the strain of rising pump prices.   Sources: THX News & Competition and Markets Authority. Read the full article

[1-2-3-4-4498-0]

Revolutionizing Energy: The Alternative Fuel Frontier

Fuel is required for any engine to function, as engines run in fuel. Fuel is also used to generate electricity, which can then be used for other purposes such as lighting and heating. Alternative fuels are the replacement fuel for traditional fuels such as petrol and diesel. Alternative Fuel Market include natural gas, methanol, and others. These fuels are known as nonconventional fuels. Usage of alternative fuels in place of traditional fuels helps in conserving energy and curb carbon emissions.

COVID-19 impact:

The global market for alternative fuels is severely impacted by the outbreak of the COVID-19 pandemic.

The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.

Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.

Thus, insufficiency in raw material supply is expected to hamper the production rate of alternative fuels, which negatively impact the market growth.

However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

Market dynamics:

Rise in the consumption of energy worldwide is one of the major factors boosting the demand for alternative fuels market. These alternative fuels are not heavy on the environment and does not have a negative impact on the environment. Alternative fuels also have a lower carbon footprint, hence they emit less carbon than traditional fuels. Rapidly increasing prices of crude oil has significantly contributed to the demand for alternative fuels over the years. Stringent government regulations regarding carbon emissions have boosted the demand for alternative fuels in the market. There is a heavy dependence of the traditional fuels for powering motor vehicles. Also, the traditional fuels are fossil fuels which are stored in reserves. As the population is increasing rapidly and an increasing consumption of these fuels can be seen, the fuel reserves are depleting rapidly. This has significantly boosted the demand for alternative fuels.

Majority of the countries are dependent on fuels which are to be exported from different countries. To reduce this dependency, several countries are taking initiatives to raise awareness regarding the alternative option of alternative fuels. They are also focusing on the sourcing of the alternative fuels domestically in order to reduce the dependency on other countries for the supply of traditional fuels. This step is anticipated to promote the growth of the alternative fuels market.

On the contrary, there is a high cost associated with the appliances or devices which function on alternative fuels. This high cost is expected to restrain the market growth of the alternative fuels. Additionally, there also a high maintenance cost associated with alternative fuels. This factor may hinder the growth of the alternative fuels market. Another factor restraining the growth of the alternative fuels is the limited availability of these fuels due to lack of awareness regarding them. These factors are projected to hampers the growth of the alternative fuels market.

Regional analysis:

North America is the market leader. U.S. is the largest consumer of alternative fuels owning to the high capital investments in the alternative fuels sector to develop new technologies and make alternative fuels a preferred source of energy. Additionally, financial aid from the government in the form of tax rebates and concessions is expected to raise the growth of the alternative fuels market in the region. In the Asia- Pacific region, high demand for energy can be seen due to rapidly increasing population in countries like India, China and Japan among others. These countries are the major consumers of energy. This is anticipated to increase the demand for alternative fuels in the region.

Key benefits of the report:

This study presents the analytical depiction of the global alternative fuel market industry along with the current trends and future estimations to determine the imminent investment pockets.

The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global alternative fuel market share.

The current market is quantitatively analyzed to highlight the global alternative fuel market growth scenario.

Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.

The report provides a detailed global alternative fuel market analysis depending on competitive intensity and how the competition will take shape in coming years.

[hardynwa]

Tinubu, drive domestic refining, end imports

RECENT moves in the downstream oil sector highlight Nigeria’s paradox of misery amid enormous endowment. While the Nigerian National Petroleum Company Limited pledged six million barrels of crude to the Dangote Refinery by December, five other smaller domestic refiners lamented their inability to commence production. Pump prices of refined products climbed higher amid continued supply hitches. Without further delay, President Bola Tinubu should drive a programme facilitating domestic self-sufficiency in refining. Officials, including the Minister of State for Petroleum, Heineken Lokpobiri, admitted that the failure of the NNPC to supply Dangote Refinery and five modular refineries with crude feedstock had stalled their full take-off. They blamed lower-than-expected crude production for the lapse. The Crude Oil Refinery Owners Association of Nigeria lamented that several more refineries were also nearing completion but were stuck because of supply uncertainties. Meanwhile, pump prices spiked, creating further apprehension for business operators and deepening Nigerians’ agony. Manufacturers said the rise in per litre price of diesel to N1,275 in Lagos, and N1,300 ex-Lagos, was further impacting on production costs and prices. Dangote cited the failure of the NNPC to provide it with crude for missing its latest production commencement target of October. It had missed several previous targets despite its official opening in May. It gave a new date of November 30. Nigeria’s governance practices often defy logic. With over 37 billion barrels in crude oil reserves, it is Africa’s largest. It is nevertheless the continent’s highest importer of refined petroleum products. It has four state-owned refineries, moribund for over three decades, running losses and gulping billions of dollars through dubious turnaround maintenance contracts, yet resists the rational option of selling them. The delay in supplying local refiners is curious; the NNPC should clarify whether it is still supplying itself 445,000 barrels of crude per day to sell and use its proceeds to import refined petrol, and whether it has stopped the controversial crude-for-refined products arrangement as ordered by Tinubu recently. Analysts suggest that the NNPC should simply set aside the 445,000bpd for local refiners to guarantee them adequate feedstock. It is also curious that while NNPC unfailingly provided itself with the allocation for decades irrespective of crude production shortfalls, it now struggles to supply private refiners claiming reduced production! Tinubu, who like his predecessors, has retained the petroleum portfolio, must resolve this logjam promptly. It is not rocket-science: while pricing and subsidy may remain issues, the solution to the downstream quagmire lies squarely in achieving self-sufficiency in refining. The national folly must stop. In 2021, Nigeria spent $11.3 billion importing refined products, according to the Observatory of Economic Complexity, the 18th largest importer worldwide and Africa’s No 1. This rose to $23.3 billion in 2022, Aljazeera reported. Among OPEC member states, Algeria refines 677,000bpd; Iraq’s over 15 refineries have a combined capacity of 1.0 millionbpd; Iran’s 2.64 mbpd capacity represents 22 per cent of the Middle-East’s total output, reports GlobalData. Libya’s refineries process 634,000bpd. Non-OPEC member, Egypt, with crude production of just 660,000bpd, nevertheless refines 833,000bpd, some of which it exports. Nigeria should therefore adopt a national emergency programme on domestic refining. It must be private sector-led: the state-owned refineries should be sold immediately; the NNPC should withdraw completely from the downstream. Read the full article

[takataktop]

Petrol and Diesel Prices: Updated Rates from Delhi to Mumbai

Every day at 6 AM, petrol and diesel prices are released by oil distribution companies. In Delhi, one liter of petrol is currently selling for ₹96.72, while diesel is priced at ₹89.62 per liter. The price of Brent crude oil has increased by 0.17% or $0.16 per barrel, reaching $92.36 per barrel.

The government-owned oil companies have announced the prices of petrol and diesel on Monday. Prices for petrol and diesel remain almost the same in most major cities. There have been no changes in prices from Delhi to Kolkata. The last price change occurred in 2022. Petrol and diesel prices in major cities: - New Delhi: Petrol ₹96.72 per liter, Diesel ₹89.62 per liter - Kolkata: Petrol ₹106.03 per liter, Diesel ₹92.76 per liter - Mumbai: Petrol ₹106.31 per liter, Diesel ₹94.27 per liter - Chennai: Petrol ₹102.74 per liter, Diesel ₹94.33 per liter - Noida: Petrol ₹96.76 per liter, Diesel ₹89.93 per liter - Gurugram: Petrol ₹96.97 per liter, Diesel ₹89.84 per liter - Patna: Petrol ₹107.54 per liter, Diesel ₹94.32 per liter - Lucknow: Petrol ₹96.57 per liter, Diesel ₹89.76 per liter - Jaipur: Petrol ₹108.48 per liter, Diesel ₹93.72 per liter - Hyderabad: Petrol ₹109.66 per liter, Diesel ₹97.82 per liter - Chandigarh: Petrol ₹96.20 per liter, Diesel ₹84.26 per liter - Bengaluru: Petrol ₹101.94 per liter, Diesel ₹87.89 per liter Crude oil prices have seen a slight increase, with Brent crude at $92.36 per barrel, up by 0.17%, and WTI crude at $90.97 per barrel, showing a similar mild increase. Petrol and diesel prices are announced daily at 6 AM, including taxes imposed by central and state governments, transportation costs, and dealer commissions. Read the full article

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Petrol-Diesel Price Today: कच्चा तेल हुआ सस्ता, भारत में तेल कंपनियों ने सुबह 6 बजे घोषित कर दी ताजा कीमतें!

Petrol-Diesel Price Today: कच्चा तेल हुआ सस्ता, भारत में तेल कंपनियों ने सुबह 6 बजे घोषित कर दी ताजा कीमतें!

Photo:FILE Petrol Diesel Price Highlights ब्रेंट क्रूड की कीमत 110 डॉलर प्रति बैरल पर आ गई है भारतीय तेल कंपनियों ने तेल के दाम में कोई बदलाव नहीं किया है दिल्ली में पेट्रोल की कीमत आज भी 96.72 रुपये प्रति लीटर है Petrol-Diesel Price Today: अंतरराष्ट्रीय बाजार में कच्चे तेल की कीमतों में बड़ा बदलाव आया है। बुधवार को विदेशी बाजार में डॉलर में करीब 3 प्रतिशत की कमी दर्ज की गई और ब्रेंट क्रूड की…