Page 2 - Petrol

Petrol, diesel prices cut by Rs 2 across India, says oil minister

The Ministry of Petroleum and Natural Gas said in a post on X that Oil Marketing Companies (OMCs) have informed that they have revised petrol and diesel prices across the country

Nation first policy helped manage oil prices despite global conflicts: Puri

The Union Minister for Petroleum and Natural Gas said 85 per cent of India's crude requirements are met by imports, with the price of crude in the international market being the benchmark

Truckers' protest: Long queues at fuel pumps in T'gana amid shortage fear

Long queues were witnessed at petrol pumps in several parts of Hyderabad on Tuesday as people thronged them fearing shortage of fuel amid a protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists. As a large number of motorists gathered at the fuel outlets for petrol and diesel, the queues spilled over to the main roads, resulting in traffic jams at several places for some time, though it was brought under control by evening, police officials said. "(Fuel) availability is there. People are apprehensive that due to the agitation by truck drivers, it may not be available and they are going to petrol pumps in large numbers, following which queues were formed and subsequently spilled over to the roads resulting in traffic jams initially," a senior police official said. A petrol retail outlet owner told a TV channel that fuel supply to petrol pumps in the city was indeed hit by to the truck drivers' protest since ...

Chandigarh imposes temporary restriction on sale of petrol, diesel

The Chandigarh administration stated that this measure is a precautionary step to manage the current situation until normalcy is restored

Pakistan slashes petrol price by PKR 14, high-speed diesel by PKR 13.5

It reported citing a notification from the Pakistan Ministry of finance, the new prices of petrol are PKR 267.34 and PKR 276.21 for HSD

Petrol, diesel price revision only when oil price stabilises below $80

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

Rajasthan polls: Petrol to come down by Rs 11.80 per litre, claims Puri

Union Minister Hardeep Singh Puri alleged that the price of petrol in Rajasthan was the highest in the country because of the additional cess imposed by the Congress government in the state.

Centre cuts windfall tax on crude oil to Rs 6,300/tonne, halves for diesel

Windfall tax: The levy on the export of jet fuel and petrol will continue to be zero

Wants to bring petrol under GST: Sitharaman slams Cong on double standards

Finance Minister Nirmala Sitharaman on Friday said the Union government wants to bring petrol and diesel under the ambit of the Goods and Services Tax (GST), but the Congress is adopting "double standards" on the issue. The Bharatiya Janata Party and the central government have been in favour of bringing petroleum products under the GST regime from the beginning as it will benefit the people, she told reporters here. "Who are the people who are stopping petrol and diesel from being brought under GST? If Priyanka is in favor of bringing petrol and diesel under GST, she should ask every state government of Congress to agree to it in the GST Council, the minister said. The media should question the Congress on its "double standards", she added. Congress general secretary Priyanka Gandhi Vadra has been targeting the BJP governments at the Centre and in Madhya Pradesh over inflation during her campaign rallies ahead of November 17 assembly elections in the state. Asked about the impa

Petrol, diesel consumption jumps in Oct as festive spending surges: Report

Petrol and diesel consumption rose in October as festive spending reversed the initial decline in sales, buoying growth, preliminary data of state-owned firms showed on Wednesday. Auto fuel sales declined in the first half of October but rose sharply in the second compared to the year-ago priod, helping companies post a decided growth rate for the month. Petrol sales by three state-owned fuel retailers rose 3 per cent in October to 2.87 million tonnes while diesel consumption was up 5 per cent at 6.91 million tonnes. Consumption of petrol had fallen 9 per cent year-on-year in the first half of October and diesel sales by 3.2 per cent. But the start of Navratri/Durga Puja celebration helped reverse the trend. Last year, Durga Puja/Dussehra as well as Diwali fell in October. This year the festival season, when consumption picks up, started in the second half of October. Petrol consumption in the first half of October was 1.17 million tonnes and in the second half, it was 44 per cent

Diesel sales down 3% in September, petrol up 5.4% amid receding monsoon

Diesel sales in India fell 3 per cent in September as a receding monsoon continued to dampen demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year, petrol sales rose in September. Consumption of diesel, the most consumed fuel in the country -- accounting for about two-fifths of the demand, fell to 5.81 million tonnes in September from 5.99 million tonnes demand in the same period a year ago. Demand dipped by over 5 per cent in the first half of September, and consumption picked up in the second half as rains receded. Month-on-month sales were up 2.5 per cent when compared to 5.67 million tonnes of diesel consumed in August. Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector, which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements. Consumption of diesel had soa

Diesel sales fall in September amid rains, petrol consumption up in India

Diesel sales in India fell for the second straight month in September as rains dampened demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year in the first half of September, petrol sales were up marginally. Consumption of diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 5.8 per cent to 2.72 million tonnes between September 1 and 15, compared to the year-ago period. Consumption had fallen by a similar proportion in the first half of August. Month-on-month sales were up 0.9 per cent, when compared with 2.7 million tonnes of diesel consumed in the first half of August. Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements. Consumption of diesel had soared 6.7 per

Pakistan caretaker government increases price of petrol, high-speed diesel

Pakistan's Ministry of Finance said that the decision was taken due to the increasing trend of petrol prices in the international market

Petrol, diesel prices unlikely to change in India as oil nears $90 in 2023

Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year. For a nation that is more than 85 per cent dependent on imports for its oil needs, the surge in prices means India will have to shell out more and the prospect of returning to market-driven petrol and diesel prices in the near future diminished further. Brent crude prices surged around 6.5 per cent over the past week after Saudi Arabia, which leads the expanded OPEC+ cartel with Russia, decided to keep its one million barrels a day reduction in supplies to the global market until the end of December. Russia has added its own voluntary export cuts in recent months. The move has led to Brent rising above USD 90 a barrel for the first time this year on Tuesday. On Wednesday, it was trading at USD 89.67 per barrel. The basket of crude oil that India imports has averaged USD 89.81 per barrel this month, up from USD 86.43 in

Carbon dioxide to ethanol: Chennai-based Ramcharan springs another surprise

The company has already tied up in this regard with Nikhil Gadkari-led Manas Agro and Infrastructure on Monday to convert various effluents discharged into energy and value-added products

Heavy rains dampen Indian retailers' gasoil, gasoline monthly sales in July

Fuel demand in India, the world's third-biggest oil importer and consumer, typically falls during the four-month monsoon season beginning in June as parts of the country are affected by heavy floods

Govt hikes windfall tax on petroleum crude to Rs 4,250 per tonne from Aug 1

A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday

China's petrol demand to peak as electric vehicle sales soar: Analysts

With gasoline consumption having topped out in the U.S., the world's top gas guzzler, in 2019 and China set to peak around next year, global gasoline markets could move into a surplus from 2025

DEEFCC secy asks employees to discard petrol, diesel vehicles once a week

The Department of Environment, Forest and Climate Change (DEFCC) of Bihar government on Tuesday asked its all officials to discard the use of petrol/diesel vehicles at least once in a week in their official work. DEFECC secretary Bandana Preyashi in a circular to officials requested them to use electric vehicles, bicycles or rickshaws at least once in a week in their official work. "Keeping the rising level of vehicular pollution in mind, we must take the initiative to save the environment. All officials and employees of the department are requested to use fuel-efficient vehicles at least once in a week for official work from August. We must discard the use of 'petrol/diesel vehicles' at least once in a week for our official work. We should use electric vehicles, bicycles, rickshawsor if possiblewe can walk to our offices also," Preyashi said in a circular to all employees of the department. Talking to PTI, Preyashi said "We have collectively decided to discard use of 'petrol/diesel

Oil, petrol sales of state retailers decline in July amid heavy rains

Demand from the agriculture sector also gets affected in this period due to fewer irrigation-related requirements