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Fuel price cut: Union Budget will need to balance fuel price cuts with an eye on consumption

With the Budget approaching, there is speculation about a possible cut in excise duty on petrol and diesel. However, the stabilization of global oil prices makes further reductions in fuel taxes unlikely. Oil Marketing Companies (OMCs) have seen enhanced marketing margins due to the softening of crude prices, which could warrant a fuel price cut. The fiscal deficit and the impact on state tax collections are important considerations. ....

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'React more promptly': Vladimir Putin orders government to stabilise fuel prices | World News

Vladimir Putin also told the cabinet it needed to act swiftly and that reviewing oil industry taxes was an option. | World News ....

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Russia's Novak: companies to decide if they cut oil exports or output

Russian Deputy Prime Minister Alexander Novak said on Thursday that individual companies would decide whether to cut oil production or exports in August, but Russia s task was to reduce supplies to world markets, the TASS news agency reported. ....

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The Fiji Times » New fuel prices effective from tomorrow; consumers set to fork out more

The Fiji Times » New fuel prices effective from tomorrow; consumers set to fork out more
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Indian Crude Oil Basket Hits 10-Year High Of $121 Per Barrel

The basket of crude oil that India buys has hit a decade high of $121 per barrel, but retail selling prices of petrol and diesel remain unchanged ....

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