Petrol

Govt abolishes windfall tax on crude oil, ATF, petrol, and diesel exports

The govt has withdrawn the Road and Infrastructure Cess on petrol and diesel exports to ease financial pressure on the oil sector

Petrol, diesel consumption rebounds in November on festival demand

India's petrol and diesel consumption soared in November as the festive season reversed a fall in demand witnessed in previous months, preliminary data of state-owned firms showed on Friday. While petrol sales had shown a year-on-year increase, diesel has been a laggard since monsoon and November was the first month that saw positive growth in consumption. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, soared 8.3 per cent to 3.1 million tonnes in November compared to 2.86 million tonnes of consumption in the same month last year. Diesel demand was up 5.9 per cent to 7.2 million tonnes. Petrol and diesel sales have been tepid during the monsoon months as rains reduced vehicular movement and demand for the agriculture sector. Petrol demand however soared once rains eased but diesel consumption lagged year-on-year. Month-on-month petrol sales were up 4.7 per cent when compared to 2.96 million tonnes of consumption in October. Diesel demand was

Petrol sales rebound in festival season, diesel demand continues to drop

India's petrol consumption soared 7.3 per cent in October on the back of increased demand from the start of festive season but diesel sales were down 3.3 per cent, preliminary data of state-owned firms showed on Friday. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, rose to 3.1 million tonnes during October when compared to 2.87 million tonnes of consumption in the same month last year. Diesel demand dropped 3.3 per cent to 6.7 million tonnes. While petrol sales were up mostly due to an increase in use of personal vehicles as the festive season kicked in, diesel demand dropped due to lower demand from the agriculture sector owing to the extended rainy season. Petrol and diesel sales have been tepid during the last few months as monsoon rains reduced vehicular movement and demand for the agriculture sector. Month-on-month petrol sales were up 7.8 per cent when compared to 2.86 million tonnes of consumption in September. Diesel demand was howe

Headroom to slash petrol, diesel prices by Rs 2-3 per litre: Icra

A reduction in crude oil prices in recent weeks has improved margins on retail auto fuels, providing state-owned firms a headroom to cut petrol and diesel prices by Rs 2-3 per litre, rating agency Icra said on Thursday. The price of a basket of crude oil India imports averaged USD 74 per barrel in September, down from about USD 83-84 a barrel in March when petrol and diesel prices were last cut by Rs 2 per litre. In a note, Icra said the marketing margins on retail sales of auto fuels for the Indian Oil Marketing Companies (OMCs) have improved in recent weeks with the reduction in crude prices. The rating agency anticipates that there is headroom for the downward revision of retail fuel prices if crude prices remain stable at current levels. Girishkumar Kadam, Senior Vice President and Group Head, Corporate Ratings, ICRA, said: "ICRA estimates that the OMCs' net realisation was higher by Rs 15 per litre for petrol and Rs 12 a litre for diesel vis--vis international product prices i

India gets an 'A' for its focus on solving the malnutrition problem: Bill Gates

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

Punjab govt raises fuel VAT, ends power subsidy to tackle fiscal crisis

The Punjab government increased VAT increase on petrol and diesel, raising the tax by 61 paise per litre for petrol and 92 paise per litre for diesel

Govt cuts windfall tax on crude to Rs 2,100/tonne; scraps diesel, ATF levy

India began imposing a windfall tax on crude oil producers in July 2022 and extended it to include the export of gasoline, diesel, and aviation fuel

Pak Prime Minister slashes petrol prices by Rs 8.47, diesel by Rs 6.7

The price of petrol is now Rs 260.96 per litre, while HSD stands at Rs 266.07 per litre. The reduction came ahead of Pakistan's Independence Day celebrations

India only country where petrol, diesel prices declined: Petroleum min Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said India is the only country where rates of petrol and diesel have come down between November 2021 and April 2024. Replying to various queries during Question Hour in Rajya Sabha, the minister also informed that the government is encouraging dialogue between Oil Marketing Companies (OMCs) and dealers regarding margins for the latter. Puri noted that petrol and diesel were deregulated during the UPA government. Deregulation means that prices of the commodity in the market are not set by the government, he added. "Prices here being high and elsewhere being low. It's exactly the opposite. In India today, the prices are the lowest and is the only country where prices have actually come down," Puri said. He attributed this to very bold, ambitious and farsighted decisions taken by the Prime Minister. "The prices in the world, I am giving you a two-year reference period between November 2021 and April 2024. Why I'm

Bajaj Auto to unveil world's first CNG bike: What we know so far

Bajaj Auto is set to launch its latest motorbike with dual-fuel capability, which will run on both petrol and CNG, thereby cutting the running costs by half

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

Hike in fuel prices will ensure funding essential services: CM Siddaramaiah

Karnataka Chief Minister Siddaramaiah on Sunday defended the hike in petrol and diesel prices saying that it will ensure funding essential public services and development projects. With the opposition BJP and its ally JD(S) coming down heavily on the Congress government for increasing the petrol and diesel prices by Rs 3 and Rs 3.5 per litre respectively, Siddaramaiah said even after the hike, taxes on fuel remains low compared to most southern states. "The Government of Karnataka has increased VAT on petrol to 29.84 per cent and on diesel to 18.44 per cent. Even after this hike, our state's taxes on fuel remain lower than most South Indian states and similar economy-sized states like Maharashtra," the Chief Minister said in a statement. According to him, the VAT on petrol is 25 per cent plus Rs 5.12 additional tax, and on diesel in Maharashtra it is 21 per cent. Karnataka's revised rates are still more affordable, he pointed out. "Karnataka's VAT adjustment ensures we can fund ...

Electioneering is at its peak but diesel sales slide, petrol almost flat

India's diesel sales continued to slide in May while petrol consumption was almost flat despite election campaigns for the general elections hitting a peak, preliminary data of state-owned firms showed on Thursday. Electioneering for general elections traditionally has led to a surge in fuel demand as candidates extensively use automobiles to reach voters. But the trend in sales by PSUs so far does not reflect that. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, at 1.367 million tonnes in the first half of May was almost the same as 1.36 million tonnes of fuel consumed in the same period last year. Month-on-month consumption however soared 11 per cent. Diesel sales dropped 1.1 per cent to 3.28 million tonnes during May 1 to 15. The demand for the nation's most consumed fuel had fallen 2.3 per cent in April and 2.7 per cent in March. Besides electioneering, the summer harvest season is also the scorching summer that increases the demand for ai

Two trains with petrol, diesel head to Tripura on Saturday amid fuel crisis

Two trains with petrol and diesel headed to Tripura on Saturday amid a fuel crisis due to disruption in railway freight services in Assam's Dima Hasao, an official said. Goods train services have been disrupted on the line since April 26, following the derailment of a freight train in Jatinga area of Dima Hasao. However, passenger train services remained normal. "Two trains carried petrol and diesel today. Three-four days back, we had sent another freight train with essential commodities like sugar and edible oil," North East Frontier Railway spokesperson Sabyasachi De told PTI. One of the trains has 49 wagons and is heading to Dharmanagar in Tripura, he said. The other train has 50 wagons, of which 25 were meant for Dharmanagar and 25 for Silchar in Assam, he added. De said work on the restoration of the tracks was underway. "We could send the two trains today as there was no rain for the last two-three days. The restoration work depends on how the weather is. We are trying our

Tripura government imposes restrictions on sale of petrol and diesel

A massive landslide in Assam's Jatinga region has disrupted the goods train movement to Tripura

Petrol sales up 12.3%, diesel sales continues to decline in April

India's petrol consumption soared 12.3 per cent in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on Wednesday. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, rose to 2.97 million tonnes in April compared to 2.65 million tonnes of consumption in the same period last year. Diesel demand dropped 2.3 per cent to 7 million tonnes. Demand for the nation's most consumed fuel had fallen 2.7 per cent in March. This is despite India going into general elections where automobiles largely driven on diesel are used extensively for campaigning. While petrol sales were up mostly due to an increase in the use of personal vehicles on the back of a price cut, crop harvesting season and the onset of summer, which will increase the demand for air conditioning in cars as well as the electioneering holds out hope for reversing the trend in diese

April sees 7% rise in petrol use, diesel sales fall 9.5% as summers start

India's petrol consumption soared 7 per cent in the first half of April but diesel sales were down 9.5 per cent ahead of the onset of a harsh summer season that is set to crank up fuel demand, preliminary data of state-owned firms showed on Tuesday. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, rose to 1.22 million tonnes during April 1 to 15 when compared to 1.14 million tonnes of consumption in the same period last year. Diesel demand dropped 9.5 per cent to 3.14 million tonnes. While petrol sales were up mostly due to an increase in use of personal vehicles on the back of a price cut, crop harvesting season as well as the onset of summer which will increase the demand for air conditioning in cars is likely to reverse the trend in diesel demand. Petrol and diesel prices were last month reduced by Rs 2 per litre, ending a nearly two-year-long hiatus in rate revision. Month-on-month petrol sales dropped 3.6 per cent when compared to 1.27 ..

Climate concerns take a backseat as India's petrol use doubles in a decade

The Petroleum and natural gas ministry's data indicated that between FY14 and FY24, annual petrol consumption skyrocketed by 117 per cent, diesel by 31 per cent, aviation turbine fuel by 50 per cent,

Rajasthan reduces VAT on petrol, diesel; hikes DA of employees by 4%

The Rajasthan government on Thursday announced a 2 per cent reduction in VAT on petrol and diesel and a 4 per cent hike in dearness allowance of employees and pensioners ahead of the general elections. The decisions will become effective from Friday morning. The government announced a 4 percentage point hike in dearness allowance of employees and pensioners on the lines of the Centre. The decisions were taken in the state cabinet meeting held here on Thursday evening. Speaking with reporters after the meeting, Chief Minister Bhajanlal Sharma said, "There were discrepancies regarding the prices of diesel and petrol in Rajasthan. We have removed this anomaly and have reduced the VAT rate by two per cent." He said that due to two per cent reduction in VAT on petroleum products and steps taken by oil marketing companies, the prices of petrol and diesel will come down in the state. The Chief Minister said that the reduced prices on petrol and diesel will be applicable from 6 am on Fri