Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
Jet fuel or ATF prices were on Thursday were cut by a steep 4.5 per cent, the first reduction in rates in six months.
India's fuel consumption slumped by over 66 per cent in the first week of April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
Oil marketing companies on Friday cut petrol price by 32 paise, and diesel by 85 paise a litre with effect from midnight tonight.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
Despite a massive decline in crude oil prices since 2012 -- Modi has been prime minister in six of these eight years -- petrol in Delhi has become 10 per cent costlier and diesel 97 per cent, as of July 2.
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
Petrol gets expensive but diesel is cheaper by Rs 1.35/ per litre.
With the rupee continuing to remain weak against the US dollar, losses on diesel have climbed to Rs 9.45 per litre, upsetting the government's subsidy maths.
A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry and Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
Petrol currently costs Rs 72.51 per litre in Delhi.
The market breadth in BSE remains healthy with 1,829 shares advancing and 721 shares declining
Oil companies on Wednesday slashed petrol and diesel prices by Rs 2, with effect from midnight tonight.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
The divergence shows lack of financial depth in the Indian stock markets.
Iran on Thursday ordered a release of an Indian tanker seized by it in Persian Gulf while carrying crude from Basrah in Iraq and taken to its Bandar Abbas Port 24 days ago.
'There is a view that there is a Pakistan angle to this.' 'Pakistan has a large presence in Qatar and would want India to be blacklisted.'
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
It is time the political leaderships in this country arrived at a common ground over issues of foreign and security policy concerns. There has to be a greater communication between the government and the Opposition leaderships for the nation to present a unified face against the rest of the world, advises N Sathiya Moorthy.
Petrol price has been hiked by Rs 1.82 a litre, excluding taxes, with effect from midnight tonight.
Top gainers in the Sensex pack included ONGC, HDFC, Bharti Airtel, Infosys, Maruti, HCL Tech, Mahindra and Mahindra, HUL, TechM and SBI -- rising up to 2.89 per cent.
Diesel price was on Monday hiked by 50 paise per litre, excluding VAT, with effect from midnight tonight.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is in talks to acquire stakes in two oil blocks in Sudan, a nation which is the Indian flagship is largest overseas oil producing base.
Rajapaksa said China indicated that it would help Sri Lanka, while adding that "usually they don't like" lending out more money to cover earlier debt payments.
ONGC is raising debt for a spate of acquisitions over the past year
Shipping Corporation of India's oil tanker, MT Desh Shanti, which was detained in Iran for 26 days, arrived at Visakhapatnam port in the early hours on Wednesday, sources said.
After making it available at petrol pumps, the convenient 5-kg cooking gas (LPG) cylinder will now be available at kirana stores and supermarkets in select cities.
Going by the experience of the previous years -- when the actual proceeds from stake sale were much lower than the targets -- the government's disinvestment target for 2014-15 appears too ambitious.
IOC, the key importer of petrol, has sought almost 700,000 tonnes for March-September delivery.
Jet fuel (ATF) prices have been hiked by a steep 6.9 per cent, taking the rates to lifetime high of Rs 75,031 per kilolitre.
The company feels valuations are low and the demand would later rise.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Cash-rich Central Public Sector Enterprises (CPSEs) have to either invest their surplus funds or give it to someone for investment purpose, Finance Minister P Chidambaram has said.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Indian Army personnel on Wednesday conducted yoga sessions at more than 100 locations along the country's land and maritime borders, forming a 'Bharatmala' on the occasion of the International Day of Yoga.
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