Sunday, June 1, 2025

Creating liberating content

Baby names inspired by the stars Stars have fascinated humankind

Fasting may be viewed as a means of ONLY reducing

NEW DELHI: Pakistan violated the Indus Waters Treaty (IWT) through

Welcome to this week’s horoscope, where the celestial alignments offer

Related News

Baby names inspired by the stars Stars have fascinated humankind for centuries—guiding travelers, inspiring poets, and lighting up the night sky with wonder. Naming your baby boy after the stars

Fasting may be viewed as a means of ONLY reducing weight by some, but this practice has science-backed evidence when it comes to controlling other functions of the body like

NEW DELHI: Pakistan violated the Indus Waters Treaty (IWT) through “unrelenting cross-border terrorism”, India said at an international forum in Tajikistan and justified its action of putting the 1960 treaty

Welcome to this week’s horoscope, where the celestial alignments offer insight into the lives of the zodiac signs. From career and love to finances and health, these forecasts provide a

GORAKHPUR: All poultry shops in Gorakhpur in Uttar Pradesh were asked on Saturday to shut for 21 days following detection of avian influenza strains, H5N1 and H9N2, in bird samples

CHANDIGARH: The concept of “deemed confirmation” cannot override an employer’s power to analyse work, conduct and behaviour of a probationer to ensure suitability in service, the Punjab and Haryana high

Trending News

Finance minister Nirmala Sitharaman NEW DELHI: Finance Minister Nirmala Sitharaman on Saturday endorsed the Central Board of Indirect Taxes and Customs (CBIC) for its detailed clarification on social media allegations

NEW DELHI: Industry associations Solvent Extractors’ Association (SEA) and Indian Vegetable Oil Producers’ Association (IVPA) have welcomed the government’s decision to reduce the basic customs duty on crude edible oils

The upcoming hike in US tariffs on steel and aluminium imports, announced by President Donald Trump, is set to impact Indian metal exports worth $4.56 billion, according to a new

NEW DELHI: The Indian bond market is gaining momentum due to lower inflation and expectations that the Reserve Bank of India will cut interest rates, according to a report by

NEW DELHI: Bank branches in metropolitan areas have seen their share in overall credit decline to 58.7 per cent as of March 2025, down from 63.5 per cent five years

New Delhi: Banks across India will stay open on Saturday, May 31, as it is the fifth Saturday of the month.According to the Reserve Bank of India (RBI) guidelines, banks

India set to save Rs 1.8 lakh crore on oil imports after global price dip

Word Count: 714 | Estimated Reading Time: 4 minutes


India set to save Rs 1.8 lakh crore on oil imports after global price dip

India, the world’s third-largest oil importer, is poised to save up to Rs 1.8 lakh crore on its crude oil and liquefied natural gas (LNG) import bill if the current trend of declining global energy prices persists, according to rating agency Icra.In the fiscal year ending March 31, 2025, India spent $242.4 billion on crude oil imports, covering over 85% of its domestic needs. Additionally, the country spent $15.2 billion on LNG imports. However, recent softening in international oil prices has led to significant savings.Earlier this week, oil prices fell to a four-year low of $60.23 per barrel due to concerns over rising global supply amid uncertain demand. While prices have since rebounded to $62.4 per barrel, they remain approximately $20 lower than in March 2024, when petrol and diesel prices were reduced by Rs 2 per litre ahead of general elections.ICRA projects that average crude oil prices for the fiscal year 2026 (April 2025 to March 2026) will remain in the $60–70 per barrel range. At these levels, the country could save Rs 1.8 lakh crore on crude oil imports and an additional Rs 6,000 crore on LNG imports.For upstream oil companies, this price range is expected to result in a Rs 25,000 crore reduction in profits before tax for FY2026. Despite this, ICRA anticipates that capital expenditure plans for domestic upstream players will remain unaffected.Oil marketing companies (OMCs) are expected to maintain healthy marketing margins on auto fuels, while under-recoveries on liquefied petroleum gas (LPG) are likely to decrease. The government controls LPG prices, and OMCs sell the fuel below cost, compensating for the under-recovery through subsidies. Lower LPG under-recovery and government compensation are expected to support the profitability of downstream companies, even amid increased excise duties on auto fuels implemented in April 2025.Icra also notes that the decline in crude oil prices will lead to a moderation in gas prices, translating to significant savings on term LNG imports. If crude oil prices sustain between $60–70 per barrel, ICRA projects savings of Rs 6,000 crore on LNG imports from Qatar in FY2026 compared to FY2025.While the reduction in crude oil prices presents economic benefits, refiners may face inventory losses due to the sharp decline in prices. Additionally, further hikes in excise duties cannot be ruled out.The softening of global oil prices is expected to provide significant economic relief to India, reducing its import bill and supporting fiscal stability.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account