Explore Business Standard
Don’t miss the latest developments in business and finance.
India's petrol and diesel consumption soared in December 2024 as holiday travel boosted demand, reversing the fall witnessed in previous months, preliminary data of state-owned fuel retailers showed on Wednesday. While petrol sales had shown a year-on-year increase in recent months, diesel has been a laggard since monsoon. November was the first month that saw growth in diesel consumption and the trend continued into December. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, soared 9.8 per cent to 2.99 million tonne in December compared to 2.72 million tonne of consumption in the same month last year. Diesel demand during the month was up 4.9 per cent to 7.07 million tonne. This is the second straight month of auto fuels posting handsome increase in consumption. Petrol demand was up 8.3 per cent year-on-year in November and diesel consumption rose 5.9 per cent. Road trips as well as air and rail travel during the holiday season in the second h
Toyota Kirloskar Motor is temporarily suspending the dispatch of its three models -- Innova Crysta, Fortuner and Hilux -- in the country after "irregularities" were found in the certification tests for the diesel powertrain. Toyota Industries Corporation (TICO), a company affiliated with Toyota Motor Corporation (TMC), on January 29, 2024, announced that irregularities in horsepower output certification tests were found on three diesel engine models. In case of India, such engines are used in Innova Crysta, Fortuner and Hilux. "The irregularities concern the smoothing of power and torque curves but did not lead to any over-stating or over-claims on horsepower, torque or other powertrain related values," a Toyota Kirloskar Motor (TKM) spokesperson said in a statement when contacted over the issue. The issue does not have any impact on the emissions or safety of the affected vehicles, the company stated. "Toyota is working with relevant authorities to re-confirm the data used for th
The Central government on Thursday lifted a ban on non-essential construction work and plying of BS-III petrol and BS-IV diesel four-wheelers in Delhi-NCR amid a progressive improvement in air quality in the region. The Commission for Air Quality Management (CAQM) noted a significant improvement with an AQI of 316 at 2 pm, well below the threshold for invoking Stage-III actions under the air pollution control plan called the Graded Response Action Plan. Preventive measures are in place and the forecast suggests further improvement, said the statutory body responsible for forming air pollution reduction strategies for the region and their implementation. However, Stage I to Stage II actions remain in effect to prevent a shift to the 'severe' category. The Stage III restrictions were activated on Sunday after air quality plummeted to 'severe plus' levels. The curbs include a ban on non-essential construction work and the plying of BS-III petrol and BS-IV diesel four-wheelers in the .
Indian Oil Corporation (IOC) has begun producing specialised 'reference' petrol and diesel, which are used for testing automobiles, for the first time in India, sources said. These fuels, which have higher specifications, are critical for calibrating and testing by automobile manufacturers and testing agencies like the International Centre for Automotive Technology (ICAT) and the Automotive Research Association of India. For decades, India relied on imports to meet the demand for these specialised fuels. But now, IOC has indigenously developed products that will replace imports, ensuring a reliable supply at a much lower cost for vehicle manufacturers and testing agencies, sources said. Fuel retailers like IOC sell petrol and diesel of primarily two kinds - regular and premium, through their fuel station network. The biggest difference between the normal and premium fuel lies in the octane number. The regular fuel boasts an octane number of 87, but premium fuel has an octane number
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday asked vehicle manufacturers to discourage production and sale of diesel engine vehicles, and urged them to promote other technologies. Addressing industry body SIAM's annual convention virtually, Gadkari said the government is committed to delivering vehicles with flex engines that give the users an option to run a vehicle on either 100 per cent petrol or 100 per cent bio-ethanol. "I appeal the vehicle manufacturers to discourage the production and sale of diesel engine vehicles. Diesel-based pollution is extremely hazardous to the environment and human health. "The industry must promote alternative fuel technologies and fund R&D (research and development) for alternative fuels," he said. The minister said he is looking forward to the industry for quick roll-out of E20-compatible vehicles. E20 is a blend of 20 per cent ethanol and 80 per cent petrol. "This will be immensely helpful in cutting our import bill an
Leading automaker Hyundai India on Wednesday said that skyrocketing prices of fuel in the country is increasing the demand for diesel models for the company. Director (sales and marketing) of Hyundai India Tarun Garg said diesel models are 30 per cent more fuel-efficient than the petrol versions which is causing the rise in demand in favour of the former. Speaking to reporters at Domjur in Howrah district, Garg said "Hyundai is concerned about the rise in fuel prices. But since diesel models are 30 per cent more fuel-efficient than petrol versions, there is a hike in demand for the former". He said though 2021 faced the second wave of the pandemic, sales are now back to normal to pre-Covid levels. However, the company is wary of a possible third wave, the official said Garg said that demand for SUVs is going up and Hyundai's share of this category to overall sales is 47 per cent. According to him, Hyundai's market share last year was 17.4 per cent, the highest ever in the company