Oil marketing companies

March 27, 2026 12:22 PM

No lockdown planned, Government assures amid West Asia crisis; fuel prices stabilised

Union Finance Minister Nirmala Sitharaman and Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday firmly dismissed rumours suggesting that India could impose a lockdown due to the ongoing West Asia crisis and potential fuel shortages. Reassuring citizens, FM Sitharaman stated that there is no proposal under consideration for any lockdown, calling such claims “baseless” and expressing concern over misinformation circulating in political discourse. “There shall not be any...

March 27, 2026 12:13 PM

Hardeep Puri, FM Sitharaman hail PM Modi’s decision to ‘safeguard citizens’ with excise duty cut on petrol and diesel

Petroleum and Natural Gas Minister Hardeep Singh Puri and Finance Minister Nirmala Sitharaman on Friday welcomed the Centre’s decision to cut excise duties on petrol and diesel, describing it as a timely step to protect citizens from rising global energy prices. The remarks came a day after the government reduced excise duty on petrol and diesel, even as international crude oil prices surged sharply amid geopolitical tensions in West Asia. In a post on X, Puri said the government had chosen ...

March 27, 2026 12:13 PM

Relief for oil marketing companies as Government cuts excise duty on petrol, diesel

The Centre on Friday reduced excise duties on petrol and diesel, offering relief to oil marketing companies (OMCs) amid rising global crude prices. In a notification issued on Thursday, the Union Ministry of Finance reduced the excise duty on petrol to ₹3 per litre from the earlier ₹13 per litre, while the duty on diesel was cut to nil from ₹10 per litre. The ministry said that these reductions have come into effect immediately. The government also imposed a windfall tax of ₹21.5 per li...

April 1, 2025 11:29 AM

Oil marketing companies reduce prices of commercial LPG cylinders by Rs 41

Oil marketing companies have announced a Rs 41 reduction in the price of 19 kg commercial LPG cylinders, effective from Tuesday. With this adjustment, the retail price of a 19 kg commercial LPG cylinder in Delhi now stands at Rs 1,762. However, the price of domestic LPG cylinders, used for household cooking, remains unchanged. Earlier, on February 1, the price of commercial LPG cylinders was reduced by Rs 7. These price changes are expected to benefit commercial establishments and small busi...

January 5, 2025 5:42 PM

India’s demand for petroleum products expected to rise by 4%: report

India’s demand for petroleum products, including petrol, diesel, and LPG, is projected to increase by 3-4% in the current financial year ending March 31, 2025, according to a report by Fitch Ratings. The growth is attributed to rising consumer demand, industrial expansion, and infrastructure development, the report noted. For India’s oil marketing companies (OMCs), refinery margins are expected to decline below their mid-cycle levels in FY25, driven by weaker product cracks, regional overs...

November 28, 2024 9:12 PM

Government pushes for greater ethanol blending in petrol

The Government of India has implemented a series of initiatives since 2014 to achieve ethanol blending targets under the Ethanol Blended Petrol (EBP) Programme. These efforts have led to remarkable progress, with the blending rate increasing from just 1.53% in 2013-14 to an estimated 14.60% in 2023-24. The supply of ethanol for blending by public sector Oil Marketing Companies (OMCs) has more than doubled over the past decade, rising from 2,506 crore liters in 2013-14 to an estimated 4,828 cror...

September 16, 2024 5:02 PM

Oil companies reduce price of 19 kg commercial and 5 kg FTL cylinders

Oil marketing companies reduced the prices of 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, said sources. The price has been reduced by Rs 30.50 for a 19-kg commercial cylinder. From April 1, the price in Delhi has been fixed at 1764.50, said sources. The price of the 5kg FTL cylinder has been decreased by Rs 7.50. On March 1, oil marketing companies announced a hike in the prices of commercial liquefied petroleum gas (LPG) gas cylinders. This revision in prices came durin...