hpcl

Indian oil company stocks surged up to 6% on Monday following a government fuel price hike. This rally was further boosted by a significant drop in global crude prices, driven by easing US-Iran tensions and hopes for the reopening of the Strait of Hormuz. Brent and WTI crude futures saw substantial declines, marking their lowest levels in two weeks.

State-run oil companies assure uninterrupted fuel and LPG supplies nationwide despite Middle East tensions. Adequate stocks are confirmed, with no system shortages. Companies urge consumers to avoid panic buying, citing temporary pressure at select outlets due to demand shifts and seasonal factors. India remains well-supplied with petroleum products.

US-Iran Tensions Disrupt Crude Supply; Peak-Season Projects Hit, Most Works Halted

Excise Dept Begins Fuel Sales Audit To Tighten VAT Collection

In light of global fluctuations, Bihar's public sector oil companies are committed to ensuring a steady supply of fuel and LPG. They have confirmed that all terminals and retail outlets are functioning smoothly, with stocks being replenished constantly. Petrol and diesel are readily available, and LPG deliveries remain on schedule.

Monday brought a sigh of relief to Bokaro residents as the lengthy lines at petrol pumps disappeared. The shift followed a strong message from the district administration, which stepped in to tackle the chaos caused by rampant misinformation on social media.

Adequate stocks of petrol, diesel and LPG available in state, no need for public to worry: CS

Fuel prices have risen sharply, adding to household expenses and transportation costs. This surge, driven by global events, is straining supply chains and impacting everyday goods. Oil marketing companies are seeing stock gains. The government faces a balancing act between consumer relief and revenue. The economic outlook remains a focus amidst these challenges.

The NCP (Sharadchandra Pawar) has slammed the BJP's fuel conservation efforts as mere "publicity" and questioned the Centre's pricing policy. The party argues that symbolic austerity measures won't lower prices, while citizens bear the brunt of rising fuel costs and oil company profits remain high. They demand an all-party meeting on energy security.

Fuel prices have seen another significant jump, with petrol and diesel costs rising by Rs 2.61 and Rs 2.71 per litre respectively. This marks the fourth increase in under two weeks, pushing cumulative hikes close to Rs 7.5 per litre. Consumers face mounting pressure as import costs climb due to global crude oil prices and a weaker rupee.

Congress chief Mallikarjun Kharge has strongly criticized the Modi government for recent fuel price increases, alleging it burdens citizens despite stable international crude oil rates. He pointed to significant hikes in petrol and diesel prices over the past decade, contrasting them with the UPA era.

Goldman Sachs maintains a neutral stance on Jubilant Foodworks, citing margin pressures and slow Domino's growth. Nomura is bullish on BPCL, expecting earnings recovery. Morgan Stanley sees PI Industries returning to growth, with strong biologicals margins. Grasim Industries gets an upgrade on improving demand and margin-led growth.

India's economy has faced significant challenges from global oil price surges over the past fifty years. From the 1973 Arab embargo to the recent Hormuz disruption, these shocks have impacted inflation and foreign exchange reserves. Policymakers have continuously adapted strategies to manage these crises, balancing economic stability with consumer needs.

Indian consumers are shielded from soaring global crude prices, but state fuel retailers are facing immense financial strain. Companies are losing approximately Rs 1,000 crore daily, with cumulative under-recoveries reaching nearly Rs 1.98 lakh crore. This price freeze, while ensuring supply, puts significant pressure on their balance sheets and future operations.

Soaring crude oil prices, averaging $105.4 a barrel, are straining oil companies' finances as they sell fuel below cost. Despite government excise duty cuts, losses are unsustainable. Experts suggest gradual price hikes and innovative strategies to manage the transition to renewables while supporting companies' investments and the macroeconomy.