In the international market, the crude oil registered a fall in its price after a rise in the previous two sessions while the Brent oil continued to trade above $60 per barrel
It pegged volume growth for high speed diesel (HSD) at 14-15 per cent and for petrol at 17 per cent YoY
There are expectations that the largest-ever disruption of crude production in Saudi Arabia may keep oil prices elevated in the near term
Ahead of the BSVI norms that take effect on April 1, 2020, passenger vehicle makers are pulling out all stops to woo the buyers in a bid to beat the price hike of 8-15 per cent on diesel models
The hike is likely to earn Rs 250 to 300 crore to the state exchequer
As per the Ministry of Petroleum and Natural Gas's calculations, the reduction in excise duty will decrease prices of petrol and diesel by Rs 2.50 and Rs 2.25 per litre respectively in New Delhi.