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Diesel Prices
Nayara Energy, India's largest private fuel retailer, on Thursday raised petrol prices by Rs 5 per litre and diesel by Rs 3 a litre, passing on part of the recent surge in global oil prices following the war in the Middle East, sources said. Fuel marketing companies in India have been under strain as retail petrol and diesel prices remained frozen despite a nearly 50 per cent surge in international oil prices since February 28, when the United States and Israel launched military strikes against Iran, triggering sweeping retaliation from Tehran. Nayara Energy, which operates 6,967 of India's 102,075 petrol pumps, has decided to pass on part of the increase in input costs to consumers, two sources with direct knowledge of the matter said. A company spokesperson did not immediately offer any comment on the story. Jio-bp, the fuel retailing joint venture of Reliance Industries and BP Plc that owns 2,185 outlets, has, however, so far not raised prices despite incurring heavy losses on s
Karnataka government has hiked the sales tax on diesel to 21.17 per cent with effect from Tuesday, as a result of which there will be an increase of Rs 2 per litre, bringing the sale price to Rs 91.02. An official statement highlighted that the Karnataka Sales Tax rate on diesel was at 24 per cent prior to November 4, 2021, and the sale price per litre was Rs 92.03. On June 15, 2024, the Karnataka state government issued a notification revising the tax rate on diesel to 18.44 per cent. "After the approval of the Competent Authority, the Karnataka Sales Tax rate on diesel has been increased to 21.17 per cent, effective from 01-04-2025. As a result, there will be an increase of Rs 2 per litre, bringing the sale price to Rs 91.02," the statement said. However, even after this increase, the revised sales price in the state will continue to be lower compared to the neighbouring states, it stated. As on March 31, 2025, the diesel price in Bengaluru is Rs 89.02, whereas in Hosur (Tamil Na
Commission paid to petrol pump dealers on sale of petrol and diesel has been hiked without change in retail price but rates will go down in several places in states such as Odisha, Chhattisgarh, and Himachal Pradesh on account of intrastate freight rationalisation. Commission on sale of petrol has been hiked by 65 paise a litre and that on diesel by 44 paise per litre. Alongside, the state-owned firms also rationalised intrastate tariffs which could lead to a reduction in rates of up to Rs 4.5 a litre in some parts. Indian Oil Corporation (IOC) -- the state-owned market leader -- on October 29 wrote to dealers informing of an increase in dealer margin for all categories. "Considering the hardship of retail outlets selling less than Rs 170 per kilolitre per month, special care has been taken to alleviate the same," it said. "You will be entitled to an upward revision of dealer margin of approximately Rs 0.65 per litre for petrol and Rs 0.44 a litre of diesel." This is the first ...
Congress leader Priyanka Gandhi Vadra on Saturday slammed the Centre over high prices of petrol and diesel, alleging that the government's priority was only to fill the pockets of a few billionaires. In a post in Hindi on 'X', the Congress general secretary said crude oil has become cheaper by 29 per cent in the international market in the last 19 months. "Oil companies have earned Rs 1.32 lakh crore profit in six months. The burden of their huge earnings is being passed on to the people of the country," she alleged. Inflation is at its peak in the country due to the high prices of petrol and diesel, Gandhi said. "Poor and middle-class people are not able to run their families but they have not got any relief. The government's priority is only to fill the pockets of a few billionaires," she alleged.
State-owned fuel marketing companies are likely to revert to daily revision in prices of petrol and diesel only when international oil prices stabilise below USD 80 per barrel on a sustained basis, industry officials said. Three state-owned fuel retailers -- Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 20th month in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in the first half of 2022-23 fiscal year before easing rates propelled them to profitability. "There is considerable volatility in the international oil market and prices fluctuate wildly," an official said. "Oil companies can cut prices by Re 1 per litre and everyone will applaud. But when international oil prices go up, will they be allowed to raise rates remains in doubt." India is the