Search results “Pricing of petroleum product”
Watch: How petrol, diesel prices are calculated; state imposes tax on crude oil
This segment brings you a discussion why petrol prices are rising in India despite getting cheaper in international market. It also explains how petrol, diesel prices are calculated and state imposes tax on crude oil. Watch full video to know more. About Zee Business -------------------------- Zee Business is one of the leading and fastest growing Hindi business news channels in India. Live coverage of Indian markets - Sensex & Nifty -------------------------------------------------------------- You can also visit us at: https://goo.gl/sXWpTF Like us on Facebook: https://goo.gl/OMJgrn Follow us on Twitter: https://goo.gl/OjOzpB Subscribe to our other network channels: Zee News: https://goo.gl/XBvkjZ
Views: 3378 ZeeBusiness
Prices of petroleum products up as oil price increases
22 percent of a barrel of oil goes to petroleum products.
Why petroleum products prices keep increasing
Why petroleum products prices keep increasing
Views: 126 Express News
Petroleum Product Pricing: PPPRA Insists No Plans For Increase
For more information log on to http://www.channelstv.com
Views: 112 Channels Television
CAG to audit pricing mechanism of all petroleum products
The CAG has seen that oil marketing companies have made crores in profit (to the tune of 60,000 Cr INR) due to innappropriate or faulty pricing policies and has decided to audit the pricing policies of the petroleum companies. For more news from Headlines Today visit https://www.youtube.com/channel/UCZdjh94PIFy6fDekDtWRRJQ
Views: 64 Headlines Today
Cost of storage for petroleum products reduces by 50%
Kenyans will soon start paying less for fuel with the cost of storage tanks for petroleum products reducing by close to 50%. Speaking before the National Assembly, KPC Managing Director Joe Sang said that in June this year, before the storage tanks became operational, the country’s demurrage costs were at an average of 154 million shillings while last month this cost had dropped to 79 million shillings. Sang said that Kenyans will start enjoying this new development as demurrage charges are usually factored in the pricing of fuel by the Energy Regulatory Commission. Currently, tank owners charge marketers a penalty that adds to about one shilling per litre due to insufficient storage.This happens 5 months after the Kenya Pipeline Company constructed four storage tanks with a capacity of 133 million litres at a cost of 5.3 billion.
Views: 172 NTV Kenya
Petroleum Price Regulation: FG Not Considering Fixing New Price For Petrol
For more information log on to http://www.channelstv.com
Views: 207 Channels Television
How is the market price of Petrol and Diesel determined?
From crude oil to the final product, oil travels a long way to become Petrol or Diesel. A lot of cost factors are also involved in the same. Watch this video presented by Krina Shah to understand the pricing of Petrol and Diesel in India. For further information visit: https://www.polymerupdate.com Like us on Facebook : https://www.facebook.com/polymerupdate/ Follow us on Twitter : @POLYMERUPDATE For business inquiries: [email protected] Follow Polymerupdate News on Google+ : https://plus.google.com/u/0/b/1025516..
Views: 248 Polymerupdate
How Petrol Price Rates Decided In India Explained In Hindi
How Petrol Price Rates Get Decided , Explained Petrol Pricing In India , Why They Are So high, Which Taxes Are There ? TechHindi 2k sub Giveaway Link - https://goo.gl/hF6tsk "Explained In Hindi | हिंदी मे समजाए ।" Video Series Is Very Popular As i Take New Topic All Time And Give All Explanation I know About That. "Explained In Hindi | हिंदी मे समजाए ।" वीडियो श्रेणी काफी प्रचलित है क्यों की में यहां पे हर बार एक नए विषय को लेके चर्चा करता हुं ओर उसके बारे मैं जो जानकारी है वो सब आपके समक्ष रखने की पुरी कोसीस करता हुं। Thanks for watching these videos , hit like , subscribe our channel n yes don't forget to share with you friends ये वीडिओज़ देखने के लिए धनयवाद Like बटन को प्रेस करना Subscribe करना ओर हा अपने प्रियजनों को Share करना न भूले। See you in next video, have a nice day. अगले video में आप से फिर मुलाकात होगी आपका दिन सुभ रहे। Subscribe Here : https://goo.gl/1jJVe1 Share This Video : https://youtu.be/MzeGRcjAOMQ Share This Video : 😀 Follow Us Socially 😀 🌐 Facebook : https://goo.gl/ViHyXG 🌐 Twitter : https://goo.gl/J5oKvt 🌐 Google+ : https://goo.gl/D0FjOH 🌐 Instagram : https://goo.gl/Fm4BWK 🔊 LIKE ➡ SHARE ➡ SUBSCRIBE
Views: 23924 Tech Hindi
Reasons behind the price hike of petroleum products ? | 2 July 2018 | 92NewsHD
Watch : Reasons behind the price hike of petroleum products ? | 2 July 2018 | 92NewsHD Subscribe to 92NewsHDPlus Web: http://92newshd.tv Like Us On Facebook: https://www.facebook.com/92NewsHD Follow Us On Twitter: https://twitter.com/92newschannel
Views: 585 92 News HD
New rule : 16 JUNE से Dynamic pricing लागू, रोज बदलेंगे Petrol and Diesel के Prices
According to information received from Ministry of Petroleum and Natural Gas, India's oil marketing companies will now get information on petrol prices every day. This new rule will be applicable from June 16, 2017. Let us tell you that this process is being taken after the success of the pilot project of daily review for petrol diesel in Puducherry, Visakhapatnam, Udaipur, Jamshedpur and Chandigarh before 1st May. Indian Oil Corporation, Bharat Petroleum and Hindustan Corporation are reviewing oil prices every 15 days and on the basis of which prices of petrol and diesel are decided. Under the pilot project these oil companies were still reviewing oil prices in five states of India. But now this review will be every day. These three oil companies were already insisting on fixing the price of petrol and diesel daily. Eventually their demand was met. Now the price of petrol will change from June 16 across the country. It will tell time only what will be the effect of these prices on the lives of ordinary people. For : News, News Today, News India, News In Hindi, News Today, News Today India, News Live, News Today Live, News Today In Hindi, Today News, Today News Live, India Today News Live, Narendra Modi, Arvind Kejriwal, News 2017, India 2017, Narendra Modi 2017, Modi, News Video, Kejriwal, News Live, Latest News, News Today, India News, India, News In Hindi, Livetv, Headlines, Live Tv, Headlines, BJP, App, Congress India Trending : A Place Where All Top Daily News & Many More Subscribe Us : http://tinyurl.com/TrendingIndia
Views: 570 India Trending
Breakdown of gas prices | Supply, demand, and market equilibrium | Microeconomics | Khan Academy
Where the dollars at the pump go Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/oil-prices-tutorial/v/short-run-oil-prices?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-demand-equilibrium/market-equilibrium-tutorial/v/changes-in-market-equilibrium?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 197693 Khan Academy
Food Prices Will Only Reduce When Petroleum Products Prices Reduce   Analyst
For more information log on to http://www.channelstv.com
Views: 187 Channels Television
What is CRACK SPREAD? What does CRACK SPREAD mean? CRACK SPREAD meaning & explanation
What is CRACK SPREAD? What does CRACK SPREAD mean? CRACK SPREAD meaning - CRACK SPREAD definition - CRACK SPREAD explanation. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Crack spread is a term used on the oil industry and futures trading for the differential between the price of crude oil and petroleum products extracted from it. The spread approximates the profit margin that an oil refinery can expect to make by "cracking" the long-chain hydrocarbons of crude oil into useful shorter-chain petroleum products. In the futures markets, the "crack spread" is a specific spread trade involving simultaneously buying and selling contracts in crude oil and one or more derivative products, typically gasoline and heating oil. Oil refineries may trade a crack spread to hedge the price risk of their operations, while speculators attempt to profit from changes in the oil/gasoline price differential. One of the most important factors affecting the crack spread is the relative proportion of various petroleum products produced by a refinery. Refineries produce many products from crude oil, including gasoline, kerosene, diesel, heating oil, aviation fuel, asphalt and others. To some degree, the proportion of each product produced can be varied in order to suit the demands of the local market. Regional differences in the demand for each refined product depend upon the relative demand for fuel for heating, cooking or transportation purposes. Within a region, there can also be seasonal differences in demand for heating fuel versus transportation fuel. The mix of refined products is also affected by the particular blend of crude oil feedstock processed by a refinery, and by the capabilities of the refinery. Heavier crude oils contain a higher proportion of heavy hydrocarbons composed of longer carbon chains. As a result, heavy crude oil is more difficult to refine into lighter products such as gasoline. A refinery using less sophisticated processes will be constrained in its ability to optimize its mix of refined products when processing heavy oil. For integrated oil companies that control their entire supply chain from oil production to retail distribution of refined products, their business provides a natural economic hedge against adverse price movements. For independent oil refiners which purchase crude oil and sell refined products in the wholesale market, adverse price movements can present a significant economic risk. Given a target optimal product mix, an independent oil refiner can attempt to hedge itself against adverse price movements by buying oil futures and selling futures for its primary refined products according to the proportions of its optimal mix. For simplicity, most refiners wishing to hedge their price exposures have used a crack ratio usually expressed as X:Y:Z where X represents a number of barrels of crude oil, Y represents a number of barrels of gasoline and Z represents a number of barrels of distillate fuel oil, subject to the constraint that X=Y+Z. This crack ratio is used for hedging purposes by buying X barrels of crude oil and selling Y barrels of gasoline and Z barrels of distillate in the futures market. The crack spread X:Y:Z reflects the spread obtained by trading oil, gasoline and distillate according to this ratio. Widely used crack spreads have included 3:2:1, 5:3:2 and 2:1:1. As the 3:2:1 crack spread is the most popular of these, widely quoted crack spread benchmarks are the "Gulf Coast 3:2:1" and the "Chicago 3:2:1". Various financial intermediaries in the commodity markets have tailored their products to facilitate trading crack spreads. For example, NYMEX offers virtual crack spread futures contracts by treating a basket of underlying NYMEX futures contracts corresponding to a crack spread as a single transaction. Treating crack spread futures baskets as a single transaction has the advantage of reducing the margin requirements for a crack spread futures position. Other market participants dealing over the counter provide even more customized products.....
Views: 78 The Audiopedia
DRP Intensifies Petroleum Pricing
The Department of Petroleum Resources, DPR is resolved to intensify enforcement and adherence to oil and gas business ethics as part of efforts to ensure availability of petroleum products to ease the hardship faced by motorists in the FCT and environs. The Assistant Director of Operations, DPR Abuja Zonal Office, took trips to some fueling stations.
Views: 59 NTA News
Trading Crude Oil Futures: WTI vs. Brent
Presented by Dan Gramza, President of Gramza Capital Management, and Pete Mulmat, Director of Education at CME Group Oil is arguably the world's most important commodity. Crude and its derivatives are found virtually every aspect of modern life. However, the types of oil vary, as do the different benchmarks for crude oil prices around the world. Many may not realize that oil drilled in Texas isn't generally the same product that comes from the North Atlantic. Dan Gramza and Pete Mulmat examine the relationship between two benchmark oil futures contracts: WTI (West Texas Intermediate) and Brent. CME Group offers liquid, deep markets in both products, enabling traders to exploit price movements between them.
Views: 15807 TradeStation
What's affecting oil prices?
Brent crude prices took a 4.3 per cent hit on Tuesday; CNBC Africa discusses the dynamics impacting oil prices with Uchenna Minnis, Chief Market Analyst at Eagle. https://www.cnbcafrica.com/videos/
Views: 98 CNBCAfrica
FG reduces pump price of petrol
The Petroleum Products Pricing Regulatory Agency (PPPRA) has announced a 50k reduction in the pump price of petrol. According to a statement releaased by Farouk Ahmed, executive secretary of the agency, the commodity, which officially sold for N87/litre, will now sell for N86.50k/litre. “The Petroleum Products Pricing Regulatory Agency (PPPRA) hereby announces the implementation of the revised components of the Petroleum Products Pricing template for Premium Motor Spirit (PMS) and Household Kerosene (HHK),” read the statement. “This followed the approval of the minister of state for petroleum resources, dr. Ibe Kachikwu, for the implementation of the revised template. “The major components of the pricing template affected by this review are Traders Margin, Lightering Expenses, Nigerian Ports Authority, Jetty Throughput and Storage Charges, as well Bridging Fund. “Other components revised include Retailers’ Transporters and Dealers Margin. “Accordingly, the Ex-depot price of PMS shall be N77.00kobo/litre, while the pump price shall be N86.50kobo/litre in line with the prevailing market trend. “This new price regime is with effect from January 1, 2016. All marketers are hereby advised to adhere strictly to the PPPRA-approved Ex-depot and pump prices, as the PPPRA, in conjunction with relevant government agencies, shall enforce compliance.”
Views: 43 Uncensored
crude oil price Impact on Petrol Price | Petrol Price with Tax |पेट्रोल की प्राइस क्यों बड रही है !
In this Video, I will Show you how Crude Oil price is low and even price for petrol is So high. What is Crude Oil and Its unit :- Unrefined  petroleum  product. Naturally available Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals products. For More Updates subscribe our Channel click https://goo.gl/yNw13g Thanks For Watching
Views: 537 Fin Baba
Platts Market On Close (MOC) Price Discovery Process
Platts is a leading independent provider of energy, petrochemicals, metals, and agriculture information and a premier source of benchmark price assessments for those commodity markets. Since 1909, Platts has provided information and insights that help customers make sound trading and business decisions and enable the markets to perform with greater transparency and efficiency. This video explains Platts' Market On Close (MOC), which is the process Platts’ editors use to assess prices for crude oil, petroleum products, and related swaps.
Views: 1106 S&P Global
How Commodity Prices Impact Stock Prices
The relationship between stock prices and stock market with commodity prices and commodity news explained. Subscribe: https://www.youtube.com/channel/UCQTqvgT_qzPZn1D1bHsxtKw?sub_confirmation=1 Share video: https://youtu.be/aXksouxlwC4 Edited transcripts UDAYAN RAY Falling commodity prices, rising commodity prices, this seems to be the kind of buzzwords sort of going around for quite a few years now. Now how does it really impact a completely different market which is the stock market? It’s a different market where you buy and sell shares. To figure this out we have got with us stock market expert Mohit Satyanand. Hi Mohit! MOHIT SATYANAND Hi Udayan! UDAYAN RAY Mohit, there’s a commodities market from “dal” to crude petroleum to gold and what not you have. Everything figures in the commodities market. More and more of us Indians are getting used to caring about it. How do the fortunes, upswing or downswing actually impact stock markets (international) stock markets in India, share prices, shares, and what is the link and what should an investor be looking at? Is it just noise or is there something important out there? MOHIT SATYANAND See, most of the time for a lay investor commodity prices is just noise. I think the exceptions are when you have dramatic spikes or dramatic falls. Now, dramatic falls matter a lot when you own shares in a commodity company. So, if for example,you own shares in a company that exports iron ore, the fortunes of that company are directly related to the price of its product. Its iron ore prices fall, the profitability of that company falls hugely because the cost of its labor is not falling, the cost of its electricity to run the machinery that extracts the ore is not falling, the cost of shipping the iron ore to overseas market is not falling etc. So for companies like that, dramatic drop in commodity prices, obviously play a critical role. And these companies can turn from huge super normal profits to massive losses within one financial year. UDAYAN RAY Sure. MOHIT SATYANAND So that’s clearly a caveat that you need to be looking at. Huge and sudden spikes in commodity prices impact the fortunes of those companies that consume those commodities as inputs. To take one example, supposing I run a company which manufactures snack foods, and a significant component of my cost is the plastic packaging in which the snack food is sold. Now plastic is a petrochemical and the price of petrochemicals is related to the price of oil i.e. crude oil. If the price of crude oil goes from $40 to a $140 in the course of a year or year and half, it suddenly changes the economics of my production. And I can’t alter price to the consumer so drastically, so rapidly. And so for a while I go through a huge margin compression. That means that my profitability suffers. And this would be true of the spike in commodity prices of any significant input into what I am manufacturing. So yes, we do need to look at commodity prices. But with the caveat or the exception of commodity prices I have a slightly different theory. I have a slightly different way of looking at it, which is that to go back to the example of snack foods. What really matters to me as an investor is whether this company whose shares I own has pricing power or not. Meaning, do the customers like its product enough so that in the medium term, meaning over a year or two, that the company can adjust its prices so as to preserve its margins? Most companies are able to do that. UDAYAN RAY Okay. MOHIT SATYANAND They are able to do that. So you have these temporary aberrations. So for example, if the price of–again to look at petroleum products because that’s our biggest import and that’s where we as a country are most vulnerable, it could take up their cost of plastic packaging and it could take up the cost of the input into paints for example. And it does mean that there is a margin compression for a paint company. But over a few quarters, it all rights itself. And what typically happens when you have these kinds of disruptions is that the weakest fall. So you may have a company which has in any case not been growing well in the paints sector and it drops out. In the medium term, the number of houses in India is only going up. The frequency with which we paint our houses is only going up. The average room size is probably going up. And therefore when this kind of disruption happens, the more successful company is going to grow. And these become opportunities. If you keep your cool and if you remember that in the medium term companies can bring their margins back to a healthy level, most commodity price spikes create an opportunity for entry. And I would much rather look at which are the companies that will be able to survive this disruption and get in and buy stocks of those companies at that point in time?
Views: 1705 FundooMoney
PETROLEUM PRICE IN INDIA | CRUDE FACTS -PETROLEUM PRICES IN INDIA -CRUDE FACTS -Crude oil prices in International Market -REFINING COST -RETAIL PRICE OF PETROLEUM PRODUCTS -TAX Collected/Earned by STATE & CENTRAL GOVT.(INDIA) There is lot of confusion about petroleum prices. We tried to make clarity about Crude oil prices in international market & retail price of refined petrol in INDIA. ***IN VIDEO "A CHART SHOWING POLICIES OF PRESENT GOVERNMENT" COLUMN No - 4 ....make correction it is RETAIL PRICE of Petrol in DELHI (Rs/Ltr) THANK-YOU!!!! SHARE, LIKE & GIVE YOUR FEEDBACK IN COMMENT BOX. Audio : Sk8tboard by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/...) Artist: http://audionautix.com/
Kenyan government to impose a 16 per cent VAT on fuel
Motorists will over the next month have to dig deeper into their pockets after the Energy Regulatory Commission (ERC) increased the pump price of super petrol by Sh1.50. The latest price hike comes as a precursor to an even steeper increase in pump prices of all petroleum products, with the National Treasury set to start charging value added tax (VAT) on fuel next month. According to the regulator monthly pricing guide released on August 14, a litre of super petrol will now retail at Sh113.73 in Nairobi, up from Sh112.2 last month. Users of diesel will, however, enjoy some reprieve, with a litre of the fuel going down by 51 cents to Sh102.74. Poor households that largely rely on kerosene for their cooking and lighting needs will also get some relief after the regulator reduced the price of the fuel by 78 cents to Sh84.95 per litre in the capital. ERC said the maximum allowable retail prices were due to a slight increase in the price of imported petroleum products. “The average landed cost of import super petrol increased by 3.08 per cent from $737.77 per tonne in June 2018 to $761.55 per tonne in July 2018, diesel increase 0.18 per cent (to $683.25 per tonne) and kerosene decreasing by 1.32 per cent (to $721.62 per tonne,” said ERC in a statement. The proposal to hike fuel pump prices further next month is on the back of a push by the International Monetary Fund (IMF). The Bretton Woods institution wants the Government to hike taxes on some products in a bid to increase domestic revenue collection so as to slow down on taking new loans. The re-introduction of VAT on fuel was among the conditions given to Treasury by IMF in 2015 when it initially gave Kenya the Sh150 billion standby credit facility. VAT on the three commonly used fuels and jet fuel will push the cost of a litre of super petrol to over Sh130 in Nairobi and well over Sh140 per litre in far flung towns. Diesel, which is critical in powering different economic sectors, is expected to rise to over Sh119, which would in effect see price of basic goods go up. ERC, however, said it had not received instructions from Treasury to increase pump prices. But it said taxes are among the components of the fuel pricing formula in addition to the product costs, distribution and storage costs as well as wholesale and retail margins for oil marketers. “The commission has not yet received information from the Treasury with regards to the factoring in of VAT tax on all petroleum products. As such, the commission is still awaiting official communication on the way forward,” said the regulator in an earlier statement. SUBSCRIBE to our YouTube channel for more great videos: https://www.youtube.com/ Follow us on Twitter: https://twitter.com/KTNNews Like us on Facebook: https://www.facebook.com/KTNNewsKenya For more great content go to http://www.standardmedia.co.ke/ktnnews and download our apps: http://std.co.ke/apps/#android KTN News is a leading 24-hour TV channel in Eastern Africa with its headquarters located along Mombasa Road, at Standard Group Centre. This is the most authoritative news channel in Kenya and beyond.
Views: 646 KTN News Kenya
PPPRA Wants To Maintain Petrol Price
The Executive Secretary of the Petroleum Product Pricing Regulatory Agency, Mr. Farouk Ahmed has been speaking on the rational behind the reduction of petrol from 97 to 87 naira per litre. For more information log on to http://www.channelstv.com
Views: 129 Channels Television
CAG to audit petroleum product pricing policy
The Comptroller Auditor General's office has written to the oil ministry seeking to audit the pricing policy of petroleum products. For more news from Headlines Today visit https://www.youtube.com/channel/UCZdjh94PIFy6fDekDtWRRJQ
Views: 33 Headlines Today
Petroleum ⛽ Prices in India (Real Facts)
Petroleum products are useful materials derived from crude oil (petroleum) as it is processed in oil refineries. The largest share of oil products is used as "energy carriers", i.e. various grades of fuel oil and gasoline. These fuels include or can be blended to give gasoline, jet fuel, diesel fuel, heating oil, and heavier fuel oils. Heavier (less volatile) fractions can also be used to produce asphalt, tar, paraffin wax, lubricating and other heavy oils. Refineries also produce other chemicals, some of which are used in chemical processes to produce plastics and other useful materials. Since petroleum often contains a few percent sulfur-containing molecules, elemental sulfur is also often produced as a petroleum product. Carbon, in the form of petroleum coke, and hydrogen may also be produced as petroleum products.
Gasoline Prices Skyrocket because of Record Exports of U.S. Crude oil & crude oil Products
See America's disastrous energy policy, that today is export driven. Designed to keep Gasoline and Diesel prices artifically high. Allow by elected officals in a attempt to address real consumer deflation and falling spendable income.
Views: 106 Informed TV Channel
Petroleum products under gst (GST AWARENESS)
Debate between P. Chidambaram and Arun jaitely jii.. Must watch!! Watch till end!!
Views: 338 CA Mohit Kathuria
Petrol And Diesel Prices To Change Daily From 1st May 2017
We are already aware that the price of petrol and diesel change regularly at a certain interval. However, state-owned oil companies like Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) have introduced a pilot project in five cities where the prices of petrol and diesel will be revised on a daily basis from today. This pilot project is first being implemented in Puducherry and Vizag in the south, Udaipur in the west, Jamshedpur in the east and Chandigarh in the north. The price of petrol and diesel majorly depends upon four factors, the price of crude oil in the international market, currency exchange rate, Value Added Tax (VAT) levied by state governments and excise duty levied by the central government. While the taxes are fixed, the price of crude oil and the dollar exchange rate change regularly. Earlier, the price of petrol and diesel were being revised on the 1st and 16th of every month. This lead to a sudden increase or decrease in price after every fortnight. With the implementation of dynamic pricing, the prices will increase or decrease by few paise per day. This will also stop oil companies from taking on unnecessary loss or excessive profit as now they won't have to wait for 15 days to revise the rates. This practice is already being followed in most advanced markets and is likely to be applied all over the country after its implications are studied through the pilot project.
Views: 144 Auto Mech
Why Are Gas Prices So High? Energy Market Manipulation and Oil Prices (2008)
The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide, the trade prices are similar. The price paid by consumers largely reflects national pricing policy. Some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabia and Venezuela, subsidize the cost. Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011. US petroleum consumption reached an estimated 18.87 million barrels per day (3,000,000 m3/d) in 2011, and is expected to increase to 18.96 million barrels per day (3,014,000 m3/d) per day in 2012. Drivers in the United States traveled 500,000 miles (800,000 km) per day in 2011, and were expected to travel 8.158 billion miles (1.3129×1010 km) per day in 2012. This equates to an average of 33 miles (53 km) per vehicle per day. On average, US drivers consume 1.49 US gallons (5.6 L) of gasoline per day, or about 10.44 US gallons (39.5 L) per week.[2] As of March 2013, the average price for 87 octane gasoline was $3.22 a US gallon (85¢/L). This price represented a 28 percent increase over a period of just 2 months and a 52 percent increase since the end of January. Small businesses are starting to have to pay more for gasoline. Just a couple of weeks ago, oil reached an all-time high of $111 per barrel ($700/m3). According to AAA, the national average for a gallon of gasoline is now a record $3.33 (88¢/L). Small businesses are being impacted by these changes of rising gasoline prices. In 2008 a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. According to the report, in April fuel consumption had been lower than a year before for the sixth straight month, suggesting 2008 would be the first year US usage declined in 17 years. The total annual distance driven in the US began declining in 2006. The average price per US gallon in 2012 (as of 31 December 2012) was $3.618 (96¢/L), the highest ever for a year. As of 31 December 2012, the average price of gasoline was $3.298/gal (87¢/L), with New York at $3.70/gal (98¢/L) for the highest in the US, and Colorado at $2.987/gal (79¢/L) for the lowest. Finished motor gasoline amounts to 44% of the total US consumption of petroleum products. This corresponds to 18.5 exajoules per year. As of 2012 the cost of crude oil accounted for 62% of the cost of a gallon of gasoline in the United State while refining accounted for just 12%. Taxes and distribution/marketing accounted for 12% and 14% respectively. After Hurricane Katrina and Hurricane Rita, gas prices started rising. They became record high levels. In terms of the aggregate economy, increases in crude oil prices significantly predict the growth of real gross domestic product (GDP), but increases in natural gas prices do not. All the damages from the hurricanes ran up gas prices. By 30 August, a day after Katrina's landfall, prices in the spot market, which typically include a premium above the wellhead price, had surged pass $11 per gigajoule ($12 per million British thermal units), and by 22 September 2005, the day before Rita's landfall, the spot price had risen to $14/GJ ($15 per million BTU). Crude oil is the greatest contributing factor when it comes to the price of gasoline. This includes the resources it takes for exploration, to remove it from the ground, and transport it. Between 2004 and 2008, there was an increase in fuel costs due in large part to a worldwide increase in demand for crude oil. Prices leapt from $35 to $140 per barrel (220 to 880 /m3), causing a corresponding increase in gas prices. On the supply side, OPEC (or the Organization of the Petroleum Exporting Countries) has a great deal to do with the price of gasoline, both in the United States and around the world. The speculation of oil commodities can also affect the gasoline market. Taxes are the next biggest contributor to gasoline prices at around 12%. In the United States, both state and federal taxes apply to gasoline. In addition other taxes may be placed on gas including applicable state sales taxes, gross receipts taxes, oil inspection fees, underground storage tank fees and other miscellaneous environmental fees. Distribution and marketing makes up the remaining 5%. The price of transporting crude oil to a refinery then gasoline to a point of distribution is passed on to the consumer. In addition the price to market the fuel brand is passed on. http://en.wikipedia.org/wiki/Gas_prices
Views: 1813 The Film Archives
Finance Ministry announces maintaining petroleum products pricing for the month of August
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Views: 11 Tehlka TV
Eng/Hindi/Nat India's new centre-left government has announced sharp increases in the price of fuel and cooking gas, a move likely to force up the price of a range of other goods. The price of petrol will go up 25 percent, while diesel and cooking gas will cost 30 percent more - imposing an additional burden on India's fast-growing middle class. The rises have drawn flak from the opposition as well as some main supporters of the United Front government and may have serious political fallout for an already fragile coalition. Indians across the country woke up Wednesday morning to find that all their expense calculations needed adjusting upwards. Petrol prices are up 25 percent and cooking gas will cost more. Price of kerosene however, the cheap stove fuel used by the poor in the country, has not been raised. The hike is likely to push up the prices of a whole range of other commodities that rely on petroleum products either directly or indirectly. A hike in petrol and diesel means that all forms of passenger and freight transport will cost more, and as a result of an increase in freight charges all goods could cost more. This could push up India's inflation rate, which has stayed below 10 percent for nearly two years. The hefty rises have both shocked and angered the people who will have to shell out more for all kinds of transport - and for practically every thing else. SOUNDBITE: (Hindi) "This time the hike is too much - like never before. Our fares should be revised immediately. If not , we will go on strike. " SUPER CAPTION: Vox pop SOUNDBITE: (Hindi) "The public will be affected, the poor people will be affected. Those who don't have enough to eat, how will they pay the higher prices for gas and so many other things? How will they manage? " SUPER CAPTION: Vox pop SOUNDBITE: (English) "It is hitting at least the common man like anything. And they claim they are for the masses, for the poor." SUPER CAPTION: Vox pop It is the first major decision taken by the ruling coalition - and one that could erode their pro-poor image. Prices of all petroleum products in India are determined by the government, which controls the oil industry despite five years of free-market policies. Prime Minister H-D Deve Gowda, who came into power on June 1, has promised to reduce the country's budget deficit from nearly 7 percent to 4 percent of the gross domestic product. This price hike is one of the steps to raise more revenue and reduce the deficit. It is also aimed at raising the additional money for modernizing oil refineries so they can produce lead-free petrol that is less harmful to the environment. An estimated 65 (b) billion rupees (U-S 1.8 billion dollars) is needed to do that. While the move has been criticised as anti-people and politically suicidal for the government, experts say the overriding economic arguments don't leave it with any other option. SOUNDBITE: (English) "It was something, it was measure that was long overdue. And I don't believe that the urban poor for example are not aware enough as to what could happen if none of these price adjustments took place. If that happened , we would have a larger fiscal deficit of the consolidated public sector and that would lead to general inflation. And the worst sufferers of a general inflation are the poor." SUPER CAPTION: Parthasarthy Shome, economist Middle-class families earn an average of 5,000 rupees (U-S 143 dollars) a month in India. While expenses such as the cooking gas and petrol form a much smaller portion of the upper income groups, they are a significant part of the middle and lower class living standards. SOUNDBITE: (English) of getting the overall gains." You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/eb653f97682aeb811793967fcc257123 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 46 AP Archive
Rack Fuel Pricing 101
Get the basics about products sold at the rack, who buys from the rack and more! https://www.opisnet.com/product/pricing/rack/
Petrol Price Increase: Adhering To PPPRA's 'No Price Distortion' Directive'
For more information log on to http://www.channelstv.com
Views: 182 Channels Television
Petrol price down 73 cents next week
The Department of Energy says the price of petrol will come down by a whopping 73 cents a litre on the first of next month. Diesel will drop by 56 cents a litre. The decrease has been attributed to a general decline in the international prices of petroleum products. Prices decreased drastically due to weaker than expected demand for petrol in the US and this led to an average decrease in the international product prices. There was also a slight recovery in the rand/dollar exchange rate. The price of illuminating paraffin will come down by 58 cents per litre, LP gas by 81 cents. Earlier this month the the price of fuel went up by 12 cents a litre. The hike was attributed to the 23 cents a litre increase in fuel and Road Accident Fund levies that Finance Minister Pravin Gordhan announced in his budget speech.
Views: 37 SABC Digital News
Nigerian Government Reduce Fuel Price
The Nigerian government has announced a reduction in the fuel price of petrol from N97 per litre to N87 per litre. The Minister of Petroleum Resources, Diezani Alison-Madueke, said at a press conference at the presidential villa, Abuja, on Sunday that the new price regime would take effect at midnight today. Mrs. Alison-Madueke said the N10 reduction in fuel price was necessitated by the reduction in crude oil prices in the international market. The Petroleum Product Pricing Regulatory Agency [PPPRA] and the Department of Petroleum Resources [DPR] have been asked to enforce strict compliance with the new pricing regime as soon as it becomes effective, the minister said. The new measure is a reversal of government’s policy on the matter. The Minister of Finance, Ngozi Okonjo-Iweala, had insisted on December 17 that Nigeria would not reduce the pump price of fuel despite falling oil prices at the international market, until the revenue crisis occasioned by the dwindling oil rates is over. Mrs. Okonjo-Iweala said at the time that the decision to review fuel price either upwards or downwards would only be taken after the current crisis in global oil prices had been settled.
Views: 736 Oak TV
Chief Justice Of Pakistan Take Step For Petrol Prices
The CJP was hearing a case related to additional taxes on petroleum prices at the Supreme Court Karachi registry.
Views: 26854 Sanjh News Channel
Senate passes Petroleum Industry Bill, PIB
The Senate on Thursday passed the Petroleum Industry Bill, PIB, almost 17 years after the process started. With the passage of the bill, which is tagged, Petroleum Industry Governance Bill, PIGB, a new regulatory agency, known as Nigeria Petroleum Regulatory Commission, NPRC, would take over the functions of Petroleum Inspectorate, PI, the Department of Petroleum Resources , DPR, and the Petroleum Products Pricing Regulatory Agency, PPPRA. The new commission, among other things, will also administer and enforce policies, laws and regulations relating to all aspects of petroleum operations which are assigned to it under the provisions of the Act. With the bill is signed into law, two new companies, Nigeria Petroleum Assets Management Company and National Petroleum Company, would be established with certain assets and liabilities of Nigerian National Petroleum Corporation, NNPC, while the National Petroleum Company, for instance, would operate as a full independent commercial entity. According to the Senate, the move is geared towards unbundling the NNPC and the petroleum industry. In the PIGB, the Ministry of Petroleum Resources would be renamed Ministry of Petroleum Incorporated. In the new bill, upon the recommendations of the new commission, Minister of Petroleum Resources can grant, amend, renew, extend or revoke any licence or lease required for petroleum or production, pursuant to the provisions of the Act or any other enactment. The bill also proposed that when the commission is created, it shall be vested with all assets, funds, resources and other movable and immovable property, which immediately before the commencement of operation of the new commission, were held by the PI, DPR and PPPRA. In the bill, more powers will be vested on the commission, as the President or the Minister of Petroleum Resources, who hitherto had such powers, would no longer have same. The bill has significantly reduced the powers of the President and the Minister of Petroleum Resources in exercising control over the oil and gas sector. The newly passed bill would help promote transparency and accountability in the administration of petroleum resources of Nigeria as well as foster a conducive business environment for petroleum industry operations. The Senate is expected to pass two more bills to further regulate the oil and gas sector. Already, the Host Communities’ Bill, which has passed first reading in the Senate, is expected to be passed into law before the end of 2017. Thereafter, the Senate will also commence moves to pass another tranche of the bill that would deal with the fiscal aspect of the oil and gas sector. Corrupt practices’ll be reduced —Saraki In his remarks after the passage, Senate President, Bukola Saraki, who presided over yesterday’s plenary, noted that the Bill was not only for Nigerians but also investors. He said with the passage of bill, corrupt practices in the oil and gas sector would be reduced to the barest minimum, adding that the inefficiency currently associated with the sector would also be done away with. Saraki said: “The bill will stimulate the oil and gas industry; it will reduce the area of corruption and inefficiency in the oil and gas sector.” The bill will now be sent to the House of Representatives for concurrence before being transmitted to the President for assent.
Views: 578 Oak TV
Goods transporters up fares following hike in petrol price
Goods transporters decided to up fares following hike in petroleum product prices in Pakistan.
Operator Pessimistic Of Passage Of Petroleum Industry Bill -- 26/06/15
An operator in the oil and gas sector in Nigeria has expressed pessimism that the bill will be passed by the two chambers of the National Assembly. He said that there were new realities, as regards the pricing of petroleum product, have made some sections of the PIB irrelevant. For more information log on to http://www.channelstv.com
Views: 176 Channels Television
Petrol, Diesel On A High: Why Does India Export Cheaper Fuel?
For the first time in 10 days, diesel and petrol prices did not go up on Tuesday. This came as a welcome relief to citizens who have seen their day-to-day expenses spiral up as fuel prices shot through the roof. While petrol is being sold at nearly Rs 87 a litre in Mumbai, India actually exports refined fuel, petrol and diesel to 15 countries at just Rs 34 a litre. Taxes, in other words the excise duties, dealer commissions and VAT continue to be a nightmare. These taxes in Delhi, very recently, were actually more that the cost of the fuel itself. On the show tonight, we discuss: Shouldn't the centre and states do more to help citizens cope with the fuel price hike? NDTV is one of the leaders in the production and broadcasting of un-biased and comprehensive news and entertainment programmes in India and abroad. NDTV delivers reliable information across all platforms: TV, Internet and Mobile. Subscribe for more videos: https://www.youtube.com/user/ndtv?sub_confirmation=1 Like us on Facebook: https://www.facebook.com/ndtv Follow us on Twitter: https://twitter.com/ndtv Download the NDTV Apps: http://www.ndtv.com/page/apps Watch more videos: http://www.ndtv.com/video?yt
Views: 5471 NDTV
Rise of Petrol and Diesel Prices major Challenge for 2019
Rise of Petrol and Diesel Prices major Challenge for 2019 Like * Comment * Share - Don't forget to Subscribe The Channel For More Updates - https://bit.ly/2MMqBRA Follow Us On - Website : - https://jkmedia.net/ Facebook Page : - https://bit.ly/2wjWWVu Google+ :- https://plus.google.com/112447179878700060639 Twitter :- https://bit.ly/2LtI9gy Instagram:- https://bit.ly/2MvSY7s About Us – JK Media Official is an Official News Channel which covers all the latest news updates and breaking news of Jammu and Kashmir. We are the fastest, credible and authentic source of News from Jammu and Kashmir. No one matches us when it is about quality and not the quantity of information. We bring Up to date news from all the corners of J&K in all the languages. https://jkmedia.net/ - This is our official news website where you can find current news, breaking news, News Headlines, Viral News, Video News, Trending News and much more.
CJP Takes Notice of Undue Taxes on Petroleum Products
Abbtakk delivers the latest headlines news and information on the latest top stories from Pakistan and around the world on weather, business, entertainment, politics, sports and more. For in-depth analysis on news visit website www.abbtakk.tv OR watch at live.abbtakk.tv
Views: 343 Abbtakk
Fuel Scarcity PPPRA Explains Cause Of Product Shortage
The Executive Secretary, Petroleum Product Pricing Regulatory Agency (PPPRA), Mr Farouk Ahmed, on Tuesday blamed the scarcity of fuel on the inability of petroleum marketers to get letters of credit from commercial banks to enable them import fuel. He also blamed two rounds of naira devaluation carried out by the Central Bank of Nigeria. For more information log on to http://www.channelstv.com
Views: 288 Channels Television
No sales tax on petrol and diesel
There will be no sales tax on RON95, RON97 and diesel fuels for now, but the situation may change if fuel prices fall, Royal Malaysian Customs Department director-general Subromaniam Tholasy announced today. During a briefing on the sales and services tax (SST) scheme that is to be implemented on Sept 1, Subromaniam said oil refineries will nonetheless be required to register with the department.
Views: 456 KiniTV
PPPRA ignorant of volume of petroleum in private tanker
PPPRA ignorant of volume of petroleum in private tanker
Views: 123 Channels Television
Towards a Vibrant Downstream Oil & Gas Sub sector II
This Documentary provides insight into the programs, policies and goals of Nigeria's Petroleum Products Pricing Regulatory Agency, PPPRA.
Nigerian govt spent N2.4bn daily on fuel subsidy in May - PPPRA - Daily Post Nigeria
The Federal Government’s subsidy on fuel has risen to N2.4 billion daily in May, from N774 million in March 2018. This rise in subsidy payment is as a result of the high price of crude oil in the international market. Unlike in March, this year, when the price of crude oil hovered at $66 per barrel, it hovered between $75 and $80 per barrel since last month, thus pushing up landing cost of the refined product in the domestic markets for finished product importers like Nigeria. According to a report released yesterday by the Petroleum Products Pricing Regulatory Agency, PPPRA, without the government subsidy, the price of petrol could have been as high as N205 per litre in the domestic market. PPPRA stated, “the price of the commodity appreciated by 8.47 per cent from N189 per litre recorded in April 25, 2018 to N205 per litre as at May 16, 2018.” The PPPRA report disclosed that during the week under reference, between May 11 and May 16, 2018, oil prices continued to soar, stating that the average price for Brent Dated was $77.92 per barrel; Nigeria’s Bonny Light was $78.08 while West Texas Intermediate, WTI, was $60.27 per barrel. Price of petrol is still fixed at a maximum of N145 per litre, meaning that the NNPC is currently paying N60 as under recovery for a litre of the commodity.
Views: 7 ALY NEWS

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