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G7 to release 100 million barrels of oil reserves through IEA
- The co-ordinated release includes frontloaded diesel supplies to stabilise global energy markets
- Lower crude and diesel prices could ease costs for Indian refiners and fuel retailers
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Topic
Fuel prices● +15% net tone today
Indian Oil −2.7% on Thu, 1 Oct- G7 countries agreed to release 100 million barrels of diesel and crude oil from emergency reserves
- The coordinated release includes frontloaded diesel supplies to stabilise global energy markets
- UK average diesel pump price reached £2 per litre for the first time
Stories per day
527 Sept
2528 Sept
1529 Sept
1630 Sept
201 Oct
172 Oct
03 Oct
G7 agrees to release 100 million barrels of oil and diesel from emergency reserves
- G7 countries agreed to release 100 million barrels of diesel and crude oil
- The release will come from emergency reserves
- More oil supply could ease fuel costs for Indian refiners and oil marketing companies
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UN warns fuel subsidies could exceed $1 trillion as Iran war raises energy costs
- UNDP said subsidies could top $1 trillion in 2026
- Governments have used price caps, subsidies and tax rebates as oil prices climbed
- Higher crude costs pressure Indian fuel retailers and government finances
Trump weighs diesel export ban; Macron rallies G7 leaders over surging energy prices — inside transatlantic energy clash
- Macron plans a G7 leaders’ call on surging fuel prices as the US pressures allies to release diesel stocks
- Oil price swings affect Indian oil marketing companies and fuel consumers
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Fuel inflation explained: How changes in petrol, CNG, LPG and PNG prices could affect your household budget
- Fuel-price changes can affect household budgets differently, depending on cooking and commuting fuel
US wants European allies to do this 'immediately' to lower diesel prices
- The US urged European allies to release strategic diesel reserves immediately
- Global fuel prices are surging amid supply disruptions linked to the Iran war
- Higher global fuel prices can pressure Indian oil marketing companies
Nayara says fuel supplies continue across 7,000-plus outlets
- Nayara said it had imposed no fuel supply restrictions across its retail network
- The statement followed a warning that private retailers could be told to stop supplies
- Fuel availability reassurance may ease concerns for Indian oil retailers and transport operators
Nobody is allowed to cap fuel sales: Petroleum Secretary
- Petroleum Secretary says nobody is allowed to cap fuel sales
- The response follows reports of Jio-bp and Nayara Energy capping diesel sales
- Fuel retailers including Jio-bp and Nayara Energy face pressure to maintain diesel supply
US refiners reap windfall profits as wars push up fuel prices for consumers
- US refiners’ margins have increased fourfold as wars push up fuel prices
- Higher fuel prices have boosted refiners’ profits while raising costs for consumers