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Iran is facing mounting economic and military strain as a United States naval blockade around the Strait of Hormuz and Gulf of Oman continues to choke off its critical oil exports, with Pentagon-linked estimates putting losses at roughly $4.8 billion, a report by Axios said. The disruption has intensified pressure on Tehran’s already fragile economy,…
The Centre took another step towards easing availability of fuel for migrant workers across the country, doubling the allocation of 5-kg Free Trade LPG (FTL) cylinders to states. In a notification issued late Monday, the ministry of petroleum and natural gas informed that the the move is based on the average daily supply to migrant…
State-owned oil marketing companies have started asking petrol pump dealers to make advance payments for supplies of petrol and diesel, as refiners grapple with mounting revenue losses from retail fuel sales, according to a Reuters report.Nearly 90% of India’s about 1,01,470 fuel stations are linked to public sector refiners and retailers – Indian Oil Corporation,…
