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For Delhi petrol per liter price on April 2, 2018, the price charged to dealers was ₹ 31.08 (36¢ US), while central government excise tax and local tax was ₹ 19.48 (23¢ US), state government VAT was ₹ 15.70 (18¢ US) and dealer commission was ₹ 3.60 (4.2¢ US). So the price of petrol for the end user was ₹ 73.83 (86¢ US). [62]
On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
Top 5 oil-producing countries 1980–2022 World oil production. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2023, tabulating all countries on a comparable best-estimate basis.
India was able to resolve the crisis through policies that liberalised the economy. However, India continued to be impacted by the volatility of oil prices. In 1998, the Atal Bihari Vajpayee administration proposed building petroleum reserves as a long-term solution to managing the oil market. [8]
The oil prices were seen rising to hit $71.38 per barrel in March 2021, marking the highest since the beginning of the pandemic in January 2020. [116] The oil price rise followed a missile drone attack on Saudi Arabia's Aramco oil facility by Yemen’s Houthi rebels. [117] The United States said it was committed to defending Saudi Arabia. [118]
From 1998 to 2004, the price of gasoline fluctuated between $0.26 and $0.53 per liter ($1 and $2/U.S. gal). [93] After 2004, the price increased until the average gasoline price reached a high of $1.09 per liter ($4.11/U.S. gal) in mid-2008 but receded to approximately $0.69 per liter ($2.60/U.S. gal) by September 2009. [93]
Figures from data firm Experian show the average price of a litre of petrol at UK forecourts climbed to a record 185.0p on Sunday. That is an increase of 7.1p in just a week. The average price of ...
Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector oil and gas company, headquartered in Mumbai.It is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas.