The Indian government announced a significant recalibration of export duties on petroleum products this week, raising the levy on petrol while simultaneously providing relief for diesel and aviation turbine fuel (ATF). As of the latest notification, the export duty on petrol has been increased to 3 rupees ($0.0313) per litre, while the duty on diesel…
Fiscal Pressure on State Refiners India’s state-run oil marketing companies are currently absorbing a staggering financial loss of approximately ₹30,000 crore every month to maintain stable retail fuel prices. The federal government confirmed this week that despite elevated global crude oil prices, the domestic retail rates for petrol, diesel, and liquefied petroleum gas (LPG) remain…
The Growing Supply Crisis Chevron CEO Michael Wirth warned on May 4 that the global energy market is entering a period of acute physical oil shortages due to the ongoing closure of the Strait of Hormuz. Speaking at a Milken Institute event, Wirth emphasized that the disruption of this critical maritime chokepoint is rapidly forcing…
