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Tag: oil prices

Global Crude Prices Slip on Reports Trump Considering Sales from Strategic Petroleum Reserve | TheStreet

Global Crude Prices Slip on Reports Trump Considering Sales from Strategic Petroleum Reserve | TheStreet

WTI futures for July delivery, the new U.S. pricing benchmark, were marked 0.1% lower from their Monday close at $50.60 while Brent crude contracts for the same month were seen 0.05% lower at $53.38 per barrel. Any decision to sell SPR stocks can be made by the President under the Energy Policy and Conservation Act, […]

Dynamic fuel pricing: Dealers feel heat over increased risk, lower profits | Business Standard News

Dynamic fuel pricing: Dealers feel heat over increased risk, lower profits | Business Standard News

A fortnight into public sector oil companies offering dynamic fuel price change at five cities in the country, oil companies see no red flags, but dealers may be already feeling the heat. State run oil companies have been offering the dynamic fuel price model at five locations-Pondicherry, Chandigarh, Jamshedpur, Udaipur and Vishakhapatnam since May 1. […]

OPEC unlikely to throw in the towel despite losing its pricing power – Commerzbank | Shipping Herald

OPEC unlikely to throw in the towel despite losing its pricing power – Commerzbank | Shipping Herald

OPEC’s limited impact on oil prices since securing a landmark deal to curb oversupply shows its dwindling influence in the energy market, according to the head of commodities research at Commerzbank. “The fairly short-lived effect of production cuts on oil prices shows that OPEC’s market impact via ‘supply control’ is very limited. We have been […]

Petrol: Petrol, diesel prices likely to be slashed by Rs 1.50 per liter on Monday | ET EnergyWorld

Petrol: Petrol, diesel prices likely to be slashed by Rs 1.50 per liter on Monday | ET EnergyWorld

New Delhi: Consumers can expect petrol and diesel prices to be slashed on Monday as fuel prices in the five cities where Indian Oil Corporation has initiated daily fuel prices revisions have fallen by more than Rs 1.50 per litre since 1 May. Revised petrol and diesel prices for Chandigarh, one of the five pilot […]

Consumers lose, margins win when robots set the prices | Wall Street Journal

Consumers lose, margins win when robots set the prices | Wall Street Journal

One recent afternoon at a Shell-branded station on the outskirts of Rotterdam, in The Netherlands, the price of unleaded fuel started ticking higher, rising more than US3.5c by closing time. It didn’t take long for a competing station down the road to raise its price about the same amount. The two stations are among thousands […]

WSJ: Gas Station Prices Constantly Change Due to AI Software | NewsMax

WSJ: Gas Station Prices Constantly Change Due to AI Software | NewsMax

Gasoline retailers reportedly are using artificial-intelligence software to set optimal prices, testing textbook theories of competition. Antitrust officials worry such systems raise prices for consumers. “In economics textbooks, open competition between companies selling a similar product, like gasoline, tends to push prices lower. These kinds of algorithms determine the optimal price sometimes dozens of times […]

Gas price war erupts between Kleenheat and Alinta Energy after discount offer | Perth Now

Gas price war erupts between Kleenheat and Alinta Energy after discount offer | Perth Now

WA’s biggest gas retailer is offering some people up to a quarter off their bills in a bid to win them back as a price war with Wesfarmers-owned Kleenheat intensifies. … It is understood the product will be a type of “capped billing” service that will charge customers a flat price every month and give […]

Steel City welcomes dynamic fuel price | Times of India

Steel City welcomes dynamic fuel price | Times of India

JAMSHEDPUR: New to dynamic pricing of fuel, customers at the filling stations are keeping employees busy with queries on the new daily tariff system. Since May 1, when the dynamic pricing of petrol and diesel came into effect in Jamshedpur, along with four cities —Visakhapatnam, Bharatpur, Chandigarh and Puducherry — the daily revision of prices […]

Aramco Cuts Asia Oil Pricing as Saudis Seen Losing Market Share | Bloomberg

Aramco Cuts Asia Oil Pricing as Saudis Seen Losing Market Share | Bloomberg

Saudi Arabia, the world’s largest crude exporter, cut pricing for June oil exports to Asia as it fights to defend sales in its biggest regional market. The kingdom raised pricing to all other regions. State-owned Saudi Arabian Oil Co., known as Saudi Aramco, lowered its official pricing for Arab Light crude to Asia by 40 […]

Dynamic daily fuel pricing to roll out in Chandigarh, Vizag and 3 other cities from 1 May | First Post

Dynamic daily fuel pricing to roll out in Chandigarh, Vizag and 3 other cities from 1 May | First Post

New Delhi: State-run oil marketers will roll out a dynamic fuel pricing pilot project from 1 May in five cities where the price of transport fuels would be changed daily so as to better cope with volatility in global crude oil prices. Petrol and diesel prices are currently revised on a fortnightly basis. All India […]