Page 4 - Petrol

Petrol doped with 20% ethanol goes on sale in 11 states/UTs to cut emission

Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per cent ethanol, 90 per cent petrol) and the government is looking to double this quantity by 2025. Prime Minister Narendra Modi launched the higher 20 per cent ethanol blended petrol two months ahead of the planned rollout in April, at the India Energy Week (IEW) 2023 here. "We have increased ethanol blending in petrol from 1.5 per cent (in 2014) to 10 per cent and are now progressing towards 20 per cent blending," Modi said. In the first phase, 15 cities will be covered and in the next two years it will be expanded throughout the country. India saved as much as Rs 53,894 crore in forex outgo from 10 per cent blending besides benefiting the farmers. E-20 (petrol with 20 per cen

Punjab cabinet imposes 90 paise per litre cess on sale of petrol, diesel

The Punjab Cabinet on Friday gave its approval for a marginal increase in the VAT rates levied on the sale of petrol and diesel in the state

Kerala budget 2023: Opposition fumes as petrol, diesel, liquor get costlier

Kerala FM KN Balagopal presented the Pinarayi Vijayan 2.0 government's second budget proposing a Rs 2 cess on petrol and diesel in addition to a Rs 20 hike on Indian Made Foreign Liquor (IMFL)

Pakistan hikes petrol, diesel prices by Rs 35 amid economic crisis

With today's hike, petroleum will now cost Rs249.80 per litre, while diesel Rs 262.80 per litre, kerosene oil Rs 189.83 per litre and light diesel oil Rs 187 per litre

Petrol stocks may dry up in Pakistan as banks refuse to open, confirm LCs

The Petroleum Division has warned the State Bank of Pakistan (SBP) that the stocks of petroleum products may dry up as banks are refusing to open and confirm Letters of Credit (LCs) for imports

Ethanol blending in petrol rose to 10.17% in July 2022: Petroleum Minister

"India has increased the ethanol blending in petrol from 1.53 per cent in 2013-14 to 10.17 per cent in July 2022," an official statement quoted Puri as saying

Petrol blended with 20% ethanol from April 1, says Hardeep Singh Puri

Says India will contribute 25% to global ethanol demand by 2040

Sugar firms may seek govt nod to retail green fuel from their own premises

The plan is to convert sugar factories into full-scale 'green energy hubs'

Petrol, diesel sales surge in Dec as economy picks up momentum, shows data

India's petrol and diesel demand soared in December as increased consumption in agriculture sector helped build on the momentum generated by the festive season, preliminary industry data showed on Sunday. Petrol sales soared 8.6 per cent to 2.76 million tonnes in December, as compared to 2.54 million tonnes of consumption in the same month last year. Sales were 13.3 per cent higher than in COVID-marred December 2020 and 23.2 per cent more than in pre-pandemic December 2019. Month-on-month, the demand was up 3.7 per cent on the high base festive season created since October. Diesel, the most used fuel in the country, posted a 13 per cent rise in sales in December to 7.3 million tonnes, as compared to the same month last year. Consumption was up 14.8 per cent over December 2020 and 11.3 per cent higher than pre-COVID 2019. Diesel sales, however, dipped marginally by 0.5 per cent when compared with November 2022. Petrol and diesel sales were the highest since June. Industry source

CAG says 3 state-owned oil firms ignoring own software for logistics

National auditor says state-owned companies make monthly adjustments that aren't best for saving costs, efficiency

OMC marketing margins improve in December after extended period of decline

Lower global crude prices, higher gross refining margins have driven overall marketing margins upwards

Petrol, diesel sales see double-digit growth in November as demand rises

Petrol and diesel sales in India saw a double-digit year-on-year growth in November as increased demand from the agriculture sector helped build on the momentum generated by the festive season, preliminary industry data showed on Thursday. Petrol sales soared 11.7 per cent to 2.66 million tonnes in November, as compared to 2.38 million tonnes of consumption in the same month last year. Sales were 10.7 per cent higher than in COVID-marred November 2020 and 16.2 per cent more than in pre-pandemic November 2019. Month-on-month, the demand was up 1.3 per cent on the high-base festive season created in October. Diesel, the most used fuel in the country, posted a 27.6 per cent rise in sales in November to 7.32 million tonnes, as compared to the same month last year. Consumption was up 17.4 per cent over November 2020 and 9.4 per cent higher than pre-COVID 2019. The fuel has seen a rise in sales month-on-month since September. It rose by a massive 17.1 per cent when compared with 6.25 .

Centre ready to bring petrol and diesel under GST: Hardeep Singh Puri

The Centre is ready for bringing petrol and diesel under the GST regime but it is unlikely that the states will agree to such a move, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday. For bringing the petrol and diesel under the GST, the states have to agree. If the states make the move, we are ready. We have been ready all along. That's my understanding. It is another issue how to implement it. That question should be addressed to the finance minister, Puri told reporters here. The minister, however, pointed out that it is unlikely that the states will agree to such a move as liquor and energy are revenue generating items for them. It is not difficult to understand, they (states) get revenue out of this. One who is getting revenue, why would he leave it? Liquor and energy are two things that generate revenue. It is only the Central government which is worried about inflation and other things, he added. The Union minister said the Kerala High Court had suggested

Festive season propels petrol, diesel demand to highest in four months

Petrol and diesel sales in India jumped to a four-month high in October, as the festive season brought back demand that had been quelled by extended monsoon rains, preliminary industry data showed on Tuesday. Petrol sales soared 12.1 per cent to 2.78 million tonnes in October, as compared to 2.48 million tonnes of consumption in the same month last year. Sales were 16.6 per cent higher than in COVID-marred October 2020 and 21.4 per cent more than in pre-pandemic October 2019. Demand, which had dipped 1.9 per cent month-on-month in September, was up 4.8 per cent higher. Diesel, the most used fuel in the country, posted a 12 per cent rise in sales in October to 6.57 million tonnes, when compared to the same month last year. Consumption was up 6.5 per cent over October 2020 and 13.6 per cent higher than pre-COVID 2019. The fuel, which had seen a near 5 per cent drop in sales in August, when compared to the previous month of July, saw demand rise 9.7 per cent month-on-month. Petrol

Petrol, diesel prices may not fall despite 30% dip in global crude price

In a bid to recover past losses the state-run oil companies may not immediately lift the six-month-long freeze on daily pricing of automobile fuel rates despite a nearly 30% decline in prices

Centre aiming to replace petrol, diesel-powered fleet with EVs soon: Report

CESL, the agency that handles the acquisition of EVs for the centre and the state governments, said that it has received an order of 3,500 EVs

Fuel sales jump in Sep as economy activity picks up before festival season

Petrol and diesel sales in India jumped in September as economic activity picked up with the nearing festival season and the ending of the monsoon raised the demand, preliminary industry data showed. Petrol sales soared 13.2 per cent to 2.65 million tonnes in September when compared to 2.34 million tonnes of consumption in the same month last year. Sales were 20.7 per cent higher than Covid-marred September 2020 and 23.3 per cent more than pre-pandemic September 2019. Demand was, however, 1.9 per cent lower than the previous month of August 2022. Diesel, the most used fuel in the country, posted a handsome 22.6 per cent rise in sales in September to 5.99 million tonnes when compared to the same month last year. Consumption was up 23.7 per cent over September 2020 and nearly 15 per cent higher than pre-Covid 2019. The fuel, which had seen a near 5 per cent drop in sales in August when compared to the previous month of July, saw demand rise 1.3 per cent month-on-month. Industry sour

Top headlines: GST collections rise 26%, 5G launch in India and more

From Airtel to roll out 5G services nationwide by March 2024 to Tata Motors' achieving its highest ever domestic monthly sales of passenger vehicles, here are the top headlines this evening

Govt defers Rs 2/litre additional excise duty on petrol, diesel by a month

The government has put off by one month the levy of an additional Rs 2 per litre excise duty on petrol and diesel that is not doped with ethanol and bio-diesel in a bid to give the industry more time to implement the measure. The finance ministry, in a Gazette notification issued late on Friday (September 30), stated that the additional excise tax will now be levied from November 1, 2022. Union Finance Minister Nirmala Sitharaman had in her Budget for the fiscal year beginning April 2022 brought a Rs 2 per litre additional levy on petrol and diesel that is not blended with ethanol and bio-diesel, respectively. This duty was to be applicable from October 1, 2022, but now has been differed to November 1. Presently, 10 per cent ethanol, extracted from sugarcane or surplus foodgrain, is blended or mixed in petrol (meaning 10 per cent of ethanol mixed with 90 per cent of petrol) with a view to cutting oil import dependence and providing farmers with an additional source of income. But .

Oil ministry says windfall profit tax response to dynamic situation

The oil ministry on Tuesday said the levy of windfall profit tax was a response to a dynamic situation and its design provides for recalibration based on market inputs and feedback. "Crude oil prices have witnessed extreme volatility in 2022. This has resulted in very high prices for end consumers at petrol pumps. "Countries around the world have implemented various measures to mitigate the adverse impacts on consumers. 'Windfall tax' is one of the measures which helps in dealing with the situation," the ministry said in a statement. India first imposed windfall profit tax on July 1, joining a growing number of nations that tax super normal profits of energy companies. While duties were slapped on the export of petrol, diesel and jet fuel (ATF), a Special Additional Excise Duty (SAED) was levied on locally produced crude oil. "The extent of its applicability, reference period, amount of cess/ tax/ duty, the incidence of tax liability, a mechanism for review are integral to such a .