Saudi energy minister blames lack of investment for surge in fuel prices Posted on May 9, 2022 by cngpump The minister did not give comparative figures. But, as an example, the average refining margin for energy major BP was 18.9 per cent in the first quarter of this year compared with 8.7 per cent in the first quarter of 2021. Related posts: Petroleum Minister Hardeep Singh Puri defends govt in Lok Sabha over fuel price hike In the season of record high crude price, oil companies to garner profitability World needs extra $1.3 trln energy investment by 2030: JP Morgan Euro zone in trade deficit for third month as energy costs surge Chevron profit nearly quadruples as oil prices surge World shares, oil decline as EU energy ministers to meet Fuel prices driven by global factors: Hardeep Singh Puri EU countries mull deal on emergency rules to fill gas storage Oil companies continue to suffer loss of marketing margins on high crude prices WPI inflation hits 4-month high of 14.55 pc in Mar as crude, commodity prices spike