Fuel Pricing

China issues 19 mn metric tons of fuel under 2025 1st batch export quota

China manages its refined oil exports via a strict quota system, using exports as a tool to balance and ensure the domestic market is sufficiently supplied

India may cut petrol, diesel prices as global oil prices reach 2024 lows

The government last cut petrol and diesel prices by Rs 2 per litre, ahead of the general elections in March 2024

GST on crude oil, petrol and diesel boils down to revenue concerns

Despite Constitutional provisions, inclusion of petrol and diesel under GST framework remains a distant dream

Interim Budget 2024-25: Food, fertiliser subsidy pegged lower in FY25

The government had rolled out PMUY in May 2022 to make clean cooking fuel, such as LPG, available to the rural and deprived households

BPCL Q3 results: Net profit jumps 82% on higher refining, sales margins

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Monday reported an 82 per cent jump in its December quarter net profit on the back of higher-than-expected refining margins and a rise in margins on fuel sales. Its consolidated net profit of Rs 3,181.42 crore in October-December - the third quarter of the current fiscal year, stated on April 1, 2023 - compares to Rs 1,747.01 crore earnings in the same period of the previous financial year, according to a company statement. Its profit was, however, lower than Rs 8,243.55 crore earnings in the preceding quarter (July-September 2023). The continuing freeze in fuel prices, which is now 21 months old, despite a fall in input raw material (crude oil) prices helped raise marketing margins. BPCL earned an estimated USD 13.3 on turning every barrel of crude oil into fuel like petrol and diesel during October-December. Pre-tax earnings from fuel marketing soared to Rs 4,372.93 crore in the third quarter from Rs 2,618.95 crore a year ba

ATF price cut by 4%; commercial LPG rate down Rs 1.5 per cylinder

Jet fuel or ATF price on Monday was cut by 4 per cent, the third straight monthly reduction, and commercial cooking gas (LPG) rates were marginally lowered by Rs 1.50 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG -- used in household kitchens for cooking purposes -- remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 4,162.5, or 3.9 per cent, in the national capital to Rs 101,993.17 per kl, according to price notifications of state-owned fuel retailers. This is the third straight monthly reduction in jet fuel prices. ATF price was cut by almost 6 per cent (Rs 6,854.25 per kl) in November and by Rs 5,189.25, or 4.6 per cent, in December. The three rounds of reduction have wiped away almost 45 per cent of the Rs 29,391.08 per kl increase in rates effected in four monthly tranches starting July 1. The reduction in the price of jet fuel, which makes up for 40 per cent of an airline's operatin

India's fuel subsidies fourth largest in the world, shows IMF data

India's per capita fuel subsidies was much lower at $245 compared to Saudi Arabia ($6996), South Korea ($3120), Russia ($2982), Japan ($2498), US ($2243) and China ($1568)

How fuel price mirage has eroded India's credibility among investors

Lack of oil pricing reform is yielding supernormal profits for state-owned companies but hindering global majors from investing

Will end monopoly on petrol supplies: Nigeria's NNPC after tripling prices

Nigeria's state owned oil company NNPC will soon end its monopoly on petrol supplies, its chief executive told local television, a day after it nearly tripled prices at its fuel stations countrywide

Petrol, diesel prices remain largely unchanged, check prices in your city

It is important to note that Oil Marketing Companies review and decide the fuel prices every day at 6 am in the morning

Reliance sells diesel at a cheaper rate than state fuel retailers: Dealers

Fuel JV of Reliance, BP is selling diesel at about Rs 1 a litre lower than state-run Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum, 6 fuel station dealers under Jio-BP brand said

World's most-crucial fuel diesel heads for shortage touching everything

Within the next few months, almost every region on the planet will face the danger of a diesel shortage

India saved $4 bn in fuel costs via solar power in first 6 mnths: Report

India saved USD 4.2 billion in fuel costs through solar generation in the first half of 2022 and 19.4 million tonnes of coal that would have further stressed an already strained domestic supply, according to a new report released on Thursday. The report by energy think tank Ember, the Centre for Research on Energy and Clean Air and the Institute for Energy Economics and Financial Analysis also analysed the growth of solar power over the last decade and found that five of the top 10 economies with solar capacity are now within Asia, including China, Japan, India, South Korea and Vietnam. The contribution of solar generation in seven key Asian countries -- China, India, Japan, South Korea, Vietnam, the Philippines and Thailand -- avoided potential fossil fuel costs of approximately USD 34 billion from January to June 2022, the report said. This is equivalent to 9 percent of total fossil fuel costs during this period, it added. "In India, solar generation avoided USD 4.2 billion in fu

Fuel sales soar 22%-26% in Oct on festive season demand: Industry data

India's fuel sales soared in the first half of October with an across-the-board surge in transportation fuel demand on the back of the economic activity picking up as festival season kicked in, preliminary industry data showed. Petrol and diesel sales jumped 22-26 per cent year-on-year while also rising month-on-month in the first half of October. Petrol sales soared 22.7 per cent to 1.28 million tonne during October 1-15 when compared to 1.05 million tonne of consumption in the same period last year. Sales were 31 per cent higher than COVID-marred first half of October 2020 and 33.4 per cent more than pre-pandemic October 1-15, 2019. Demand was 1.3 per cent higher than the first half of September 2022. Diesel, the most used fuel in the country, posted a near 27 per cent rise in sales in the first fortnight of October to 3.08 million tonne when compared to the same period last year. Consumption was up 16 per cent over October 1-15, 2020 and 26.6 per cent higher than pre-COVID 2019

Oil falls as China demand concerns fuel recession fears

Economic slowdown in China, world's second-largest oil consumer, adds to rising concerns about possible global recession triggered by numerous central banks raising interest rates to combat inflation

India's fuel demand slips to 10-month low in September: Government data

India's monthly fuel demand in September was at the lowest since November 2021, government data released on Friday showed

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

Small traders to gain in GST relief for e-commerce sellers, transport

For the transport sector, the council lowered GST to 5 per cent from 18 per cent on ropeways, renting of goods carriage, including fuel cost

Huge rush for refilling vehicles in Kashmir amid rumours of fuel shortage

Massive queues of vehicles could be seen at fuel stations in Kashmir on Thursday as people scrambled to fill up the tanks in the wake of rumours that the country is facing shortage of fuel

Petrol pump dealers not to buy from OMCs today to demand higher commission

Petrol Pump Dealers Association said its members in 22 states will join the protest