09.01.06

Government may revise the fuel prices quarterly

Posted in Review, India, Government, Oil news, Oil Prices at 8:21 am by Mridul

Government may revise the fuel prices quarterly

Indian government is planning to make a model in which the fuel prices in India at for the retail consumers will be revised in every 3 months. After seeing the steep rise and falls in the oil prices in the recent past, the government is planning to take such a decision.

Our Review: This would mean that the government would first study the oil prices in the previous quarter and then after studying the pattern, the fuel prices will be decided for the next quarter. One fine day we may see that everyday we’ll have to open the newspaper and see the oil prices for the day like it happens in Gold and Share markets.

08.19.06

Oil dips to two-month low

Posted in News, Oil Prices, Markets, Commodities, Prices at 6:28 am by Mridul

Oil dips to two-month low

LONDON: Oil fell more than a dollar on Thursday lo its lowest price in nearly two months after ample US fuel stockpiles eased investor fears of supply shortages as the US summer driving season draws to a dose. Although prices have fallen for four consecutive sessions, the market is still up 14% this year on healthy global demand, geopolitical tensions and supply disruptions in key oil-producing countries. US light, sweet crude for September delivery dropped $ 1.19 to $70.70 a barrel by 1100 GMT, its lowest since June 26.