Why Petrol Isn't Getting Cheaper Despite Falling Crude Oil Prices: Kejriwal vs Centre Explained

Petrol gets cheaper at Dangote Refinery, filling stations drop prices too

Dangote Refinery has cut petrol prices while diesel prices rise in Lagos. Global crude oil prices near 80 per barrel raise concerns for future fuel costs.

FCCPC Probes Fuel Pricing Amid Consumer Exploitation Concerns

The Federal Competition and Consumer Protection Commission, FCCPC, has raised concerns over what it described as possible consumer exploitation in the downstream petroleum sector. This follows findings that reductions in fuel prices have not reflected the sharp decline in global crude oil prices. READ ALSO: FCCPC Seals Firms Over Consumer Protection Violations Allegations The Commission, in [] The post FCCPC Probes Fuel Pricing Amid Consumer Exploitation Concerns appeared first on Voice of Nigeria.

Why E20 petrol isn't cheaper than regular fuel despite higher ethanol content, government explains

The central government has once again addressed public concerns about ethanol-blended petrol. One of the prominent questions that is there in the mind of the people is that why petrol is not cheaper even after ethanol is added. Explaining the reason, The Ministry of Petroleum and Natural Gas said that E20 petrol isn't cheaper than pure petrol because ethanol procurement costs remain higher at current crude oil prices. Ethanol is made from sugarcane, maize, or grain. It is renewable, domestically produced and has cleaner burning than pure petrol. The government said that ethanol is deliberately purchased at high, fixed rates, up to 71.86 rupees per litre, to support Indian farmers.

Why fuel prices haven’t fallen yet despite falling global oil prices

Fuel prices in Ghana are once again caught between global oil swings and the structure of domestic pricing. Crude markets have eased, but pump prices have not yet caught up. Earlier in the year, before tensions between Iran, Israel and the United States escalated, Ghanaian consumers were briefly seeing relief. Petrol was selling at about []

Crude price fall: FCCPC frowns at exploitation in oil market, to sanction profiteers

The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over findings from an ongoing surveillance of the downstream petroleum market suggesting undue exploitation of consumers. In its statement, FCCPC stated that a review of the gantry prices of local refiners, marketers, depot operators and retail outlet operators revealed token reductions in prices that The post Crude price fall: FCCPC frowns at exploitation in oil market, to sanction profiteers appeared first on Dateline Nigeria.

Dangote: Why fuel prices not below N1,000 per litre in Nigeria – Gillis-Harry

The president of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, has given a detailed explanation on why fuel price reduction has not gotten to N1,000 per litre in Nigeria. He disclosed this in an interview with DAILY POST on Monday after stakeholders in the country’s downstream oil sector met with the federal government [] Dangote: Why fuel prices not below N1,000 per litre in Nigeria – Gillis-Harry

Petrol, Diesel Prices On July 8: Check Updated City-Wise Fuel Rates

While global crude prices have fallen over the past week amid easing geopolitical tensions and higher OPEC+ production, Indian consumers are yet to see any relief at the fuel pumps as petrol and...

Consumers shift to premium petrol amid E20 concerns; demand doubles at Delhi fuel stations: Sources

Delhi's fuel retail market is witnessing a sharp shift as more motorists opt for premium petrol variants such as XP95, XP100 and Speed 97 amid concerns surrounding E20 fuel, sources told Business Today TV. The trend comes even as the Centre clarifies that E20 petrol is currently costlier to produce than conventional petrol at prevailing crude oil prices.

Motorists berate oil marketers over high cost of petrol despite global price drop

Many motorists in the Federal Capital Territory (FCT) have expressed concern about the high cost of fuel despite a drop in global oil prices. According to them, many filling stations across the FCT have yet to adjust their fuel pumps to reflect the price drop. The News Agency of Nigeria (NAN) reports that the price [] The post Motorists berate oil marketers over high cost of petrol despite global price drop appeared first on Vanguard News.

Harga minyak kukuh, Petronas perlu percepat pelaburan

PETALING JAYA: Harga minyak yang lebih kukuh kini menjadi pemangkin utama kepada Petroliam Nasional Berhad (Petronas) untuk menggerakkan semula pelaburan sektor huluan yang sebelum ini ditangguhkan, sekali gus mengurangkan justifikasi syarikat untuk terus mengambil pendekatan berhati-hati terhadap perbelanjaan modal. Menurut CIMB Securities Sdn. Bhd., gabungan harga minyak yang tinggi, aliran tunai yang lebih mantap serta ... Read more The post Harga minyak kukuh, Petronas perlu percepat pelaburan appeared first on Utusan Malaysia.

Oil prices decline after OPEC+ agrees to increase output

London, July 6 (SANA) Oil prices fell in global trading on Monday after OPEC+ agreed to a further increase in production targets starting in August, while exports through the Strait of Hormuz continued to recover, paving the way for increased supplies to the global market. Reuters reported that Brent crude futures fell 24 cents, or []

Commodities: Oil Market Shrugs Off Persian Gulf Escalation

Commodities: Oil Market Shrugs Off Persian Gulf Escalation

Gas Prices down $.25, diesel down $10.50

KINGSTON, Jamaica — Motorists should see a decrease at the pumps in the price of gasoline effective Thursday, June 28, according to the latest ex-refinery costs from Petrojam.90-octane will be sold for 200.57 per litre after a decrease of 0.25, while 87-octane will be sold for 193.13, down 0.25.Automotive Diesel will be sold for 201.25 after a 10.50 reduction and ultra-low sulphur diesel will be sold for 217.53 per litre, down 3.06.Kerosene decreased by 4.50 and will be sold for 185.89 per litre.Propane liquid petroleum will be sold for 79.07 per litre, down 2.10, and butane liquid petroleum will be sold for 87.54 per litre, down 3.06.Marketing companies and retailers will add their respective markups to these prices.

Fuel Prices Fall, But New Price Hikes Still Expected Across Bosnia and Herzegovina

A drop in global oil prices, driven by stabilizing conditions in the Middle East, has led to lower fuel prices both internationally and in Bosnia and Herzegovina. Despite fuel now being at its lowest price since the beginning of the year, consumers are unlikely to see relief in the cost of food or public services. [] The post Fuel Prices Fall, But New Price Hikes Still Expected Across Bosnia and Herzegovina appeared first on Sarajevo Times.

Oil slips after OPEC+ agrees to raise output targets

Oil prices dipped as OPEC+ agreed to boost output from August, with key producers seeing recovering exports via the Strait of Hormuz. Despite the planned increase, actual output may be capped due to ongoing geopolitical tensions. Gulf oil exports are reviving but still lag pre-conflict levels, while Russia's crude shipments surged due to refinery damage.

Montreal gas prices remain high despite drop in oil prices

Motorists are not yet seeing relief at the pumps, even as global oil prices have fallen back to near pre-conflict levels following easing tensions in the Middle East. According to Quebec’s Régie de l’énergie, the average price of regular gasoline in the Montreal area remains 24 cents per litre higher than it was before the [] The post Montreal gas prices remain high despite drop in oil prices appeared first on CityNews Montreal.

Inventory Replenishment Could Fuel The Next Major CrudeOil Bull Market

The global oil market may be entering a new phase where the primary price driver is not supply disruption, but the urgent need to rebuild depleted strategic and commercial inventories. Governments, refiners, and traders around the world face mounting pressure to replenish oil stocks that were drawn down during a period of sustained emergency releases [] The post Inventory Replenishment Could Fuel The Next Major CrudeOil Bull Market appeared first on Foreign Policy Journal.

Hormuz: China Oil Demand Tapped out, Heavy Truck EVs Rise

If the country stops needing to use diesel for trucks, that is game over for petroleum

Why Lower Oil Prices Don’t Match the Continued Drawdown in Global Inventories

Oil entered early July trading caught in one of the strangest contradictions in commodity markets: global inventories are still being drawn down, U.S.-Iran skirmishes have not fully faded, and yet prices keep sliding. Crude has now fallen back to levels seen before the war broke out, with traders focusing more on weakening demand than on [] The post Why Lower Oil Prices Don’t Match the Continued Drawdown in Global Inventories appeared first on Egyptian Gazette.

Oil Stockpiles Near Danger Zone

Energy markets expert and author of Oil's Endless Bid Dan Dicker says oil markets are underestimating the impact of ongoing supply disruptions, warning that global stockpiles have been drawn down significantly as millions of barrels per day remain unable to reach end markets. Dicker warns hosts of Bloomberg This Weekend David Gura and Christina Ruffini if inventories continue to fall, crude prices could surge from current levels to as high as 135 a barrel. (Source: Bloomberg)

Cooling Middle East Tensions Lift Markets and Pressure Oil – Comments from Century Financial

Crude Oil WTI is trading around 70.77 (-0.9) in early Asian hours, while Brent is hovering near 73.75 (-0.4), as easing geopolitical tensions between the U.S. and Iran continue to weigh on crude prices. Markets have largely priced in the prospect of renewed diplomacy after both sides agreed to halt attacks and resume technical talks [] The post Cooling Middle East Tensions Lift Markets and Pressure Oil – Comments from Century Financial appeared first on Middle East News 247.