Page 2 - Diesel Prices

Govt reduces windfall profit tax on domestic crude oil, diesel, ATF

The government reduced tax on domestically-produced crude oil to Rs 10,500 per tonne from Rs 13,300 per tonne

Top Headlines: Gyanvapi verdict today, Russia's discounted oil, and more

In a bid to counter the growing clamour among the G7 nations to enforce a price cap on Russian oil, Moscow told New Delhi it is willing to provide petroleum at even lower rates than before to India

Petrol, diesel prices regulated by election dates, not global rates: Cong

The Congress on Sunday alleged that petrol and diesel prices were regulated by the election dates and not due to the global rates

Oil prices at 7-month low, but no change in petrol, diesel prices in India

International oil prices have hit a seven-month low but there is no change in retail selling price of petrol and diesel in India as state-owned fuel retailers recoup losses incurred for holding rates for a record five months despite rising cost. International benchmark Brent crude fell below USD 90 per barrel last week for the first time since early February as recession fears weigh on demand. It has since recovered and is trading at USD 92.84 per barrel, the lowest in six months. Prices fell despite bullish developments, including Russia keeping the North Stream pipeline offline and producers cartel OPEC and its allies (OPEC+) cutting production. But this has not led to any revision in retail petrol and diesel prices in India and they continue to be on freeze for a record-setting 158 days. Responding to reporters' questions on no change in fuel prices, oil minister Hardeep Singh Puri had on Friday sought to link the no revision to losses state-owned fuel retailers incurred in keep

Loss on petrol ends; continue to incur loss on diesel sales: BPCL chairman

A moderation in international oil prices has helped Indian fuel retailers to break even on petrol and domestic cooking gas LPG but they continue to lose money on diesel, the most used fuel in the country, an official said on Monday. State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) did not raise petrol and diesel prices for almost five months now despite rising international oil prices. This is because international oil prices were highly volatile, rising or falling by USD 5-7 per barrel on a single day, BPCL chairman and managing director Arun Kumar Singh told reporters. "Our ability to pass on this kind of volatility is simply not there. No marketer can transfer this kind of volatility," he said, adding, "It is our deep desire to absorb volatility. We don't pass on sharp increase or fall in prices." And so the oil companies decided to absorb "some losses with hope that we can make up for

Fuel price: What is windfall gain tax and how it affects fuel prices?

What is windfall gain tax? How does it impact petrol-diesel prices? Which countries impose it? Read this detailed article to know everything about fuel and its relation to windfall gain tax

Fuel prices today: Check the prices of petrol, diesel in your city

Crude oil showed a declining trend, and prices are still stable in India. Petrol in Delhi is available at Rs 96.72, while Mumbai is selling at Rs 106.31 per litre. Check out fuel rates in your city

India's petrol, diesel sales fall in July as monsoon sets in: Data

Petrol and diesel sales in the country fell in July over the previous month as the onset of monsoon chipped away demand in some sectors and restricted mobility, preliminary industry data showed. Diesel, the most widely used fuel in the country, saw consumption drop 13.1 per cent to 6.44 million tonnes from 7.39 million tonnes of demand in June. The arrival and intensity of monsoon weigh heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June. Rains restrict mobility and demand from the farm sector, which uses diesel in irrigation pumps and trucking, also drops with the onset of rains. Diesel demand in July was, however, 17.1 per cent higher year-on-year, supported by strong economic growth and a relatively low baseline for the same period in 2021 when the second wave of COVID-19 had impacted the economy. Consumption of diesel was 32.4 per cent higher than the 4.84 million tonnes demand during July 2020 and 5 per cent more

Oil stocks surge as govt cuts windfall tax on fuel exports, RIL up 4%

Petrol and diesel prices are down by $40-50 per barrel from month-ago levels

Fuel demand in India declines in July so far adding to oil's gloom: Report

The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period in June, according to refinery officials with knowledge of the matter

Focus on windfall tax review leads to oil stocks ending in the green

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

Indian crude oil basket hits 10-yr high; petrol, diesel prices unchanged

The basket of crude oil that India buys has hit a decade high of $121 per barrel, but retail selling prices of petrol and diesel continue to remain frozen

Freight rates in May fall but transporters defer fleet expansion plans

Customers pay less after six months for but transport companies feel the pinch of inflation.

HPCL, BPCL, IOC: Will OMC stocks remain under pressure on excise duty cut?

According to the current chart structures, shares of OMCs needs to hold their relevant support levels to stay afloat.

Centre reduces excise duty on petrol by Rs 8 and on diesel by Rs 6/litre

The move will have revenue implication of around Rs 1 trn for the govt, says FM Sitharaman; also, the govt will give Rs 200/cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year

Fearing closure of petrol pumps, RIL-BP drafting a rescue plan: Report

Earlier in 2008, RIL had compensated dealers when it shut retail outlets due to high crude oil prices and lack of support from the government

Petrol prices up again; rise by Rs 4.80 per litre in eight days

In Chennai too, they were increased. Petrol there now costs Rs 105.94 and diesel Rs 96 per litre

Petrol, diesel prices hiked by 80 paise a litre for second day in a row

Petrol and diesel prices on Wednesday were hiked by 80 paise a litre each for the second day in a row since the ending of an over four-and-half month hiatus in rate revision. Petrol in Delhi will now cost Rs 97.01 per litre as against Rs 96.21 previously while diesel rate has gone up from Rs 87.47 per litre to Rs 88.27, according to a price notification of state fuel retailers. A record 137-day hiatus in rate revision ended on March 22 with an 80 paise per litre increase in rates. Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab - a period during which the cost of raw material (crude oil) soared by USD 30 per barrel. Oil companies are now recouping the losses. According to CRISIL Research, a hike of Rs 15-20 per litre is required to fully pass the increase in international oil prices. India is 85 per cent dependent on imports to meet its oil needs.

Diesel price for bulk users hiked Rs 25/litre; pvt retailers fear closure

The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40% rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said

Aviation turbine fuel prices climb to record high after 5.2% hike

ATF price was hiked by Rs 4,481.63 per kilolitre or 5.2 per cent to Rs 90,519.79 per kl in the national capital, according to a price notification of state-owned fuel retailers