News

India raises windfall tax on petroleum crude The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect 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. The windfall tax on petrol and aviation turbine fuel has been left unchanged. Earlier this month, the government raised the windfall tax on petroleum crude to 1,600 Indian rupees per tonne from zero....
India raises windfall tax on petroleum crude
India raises windfall tax on petroleum crude
Source: Reuters
1/08/2023 9:21:03 AM
Punjab hikes petrol, diesel prices Cash-strapped Punjab government on Sunday increased petrol price by 92 paisa per litre and diesel price by 88 paisa. This is the second time this year that the prices have been increased. The cost of one litre of petrol in the state will now be Rs 98.65 while diesel prices will be Rs 88.95 per litre. With the hike in price, the state aims to generate Rs 600 crore per annum as revenue, said officials. They said despite the increase in prices, diesel in Punjab would be cheaper than ...
Punjab hikes petrol, diesel prices
Punjab hikes petrol, diesel prices
Source: IANS
11/06/2023 11:59:21 AM
90% cash of Rs 2,000 notes, say fuel bunks in Punjab Before the announcement of withdrawal of Rs 2,000 banknotes, petrol pump owners in Punjab used to receive just 10 per cent of the daily cash of this denomination. After the decision to withdraw the currency, almost 90 per cent of the cash received is of Rs 2,000 notes, the Punjab Petroleum Dealers Association said on Thursday. Asking the Reserve Bank of India (RBI) to issue guidelines to the banks for providing enough small denomination notes, the association said the decision to withdr...
90% cash of Rs 2,000 notes, say fuel bunks in Punjab
90% cash of Rs 2,000 notes, say fuel bunks in Punjab
Source: IANS
25/05/2023 10:53:12 AM
EVs to replace all government vehicles by 2030: CM Yogi Adityanath Uttar Pradesh Chief Minister Yogi Adityanath said that all state government vehicles will be gradually replaced with EVs by 2030. To meet this target, departments have been told that purchase of EVs can be done without tendering, on the basis of nomination and that if required, more than the maximum limit set for purchase of EVs can also be spent. A government spokesperson explained that the two provisions have been made because EVs are currently more expensive than diesel and petrol ve...
EVs to replace all government vehicles by 2030: CM Yogi Adityanath
EVs to replace all government vehicles by 2030: CM Yogi Adityanath
Source: IANS
20/04/2023 11:30:43 AM
Government confident of providing petrol blended with 20% ethanol by 2025: Hardeep Singh Puri Petroleum Minister Hardeep Singh Puri on Monday expressed confidence that the government will meet the target of providing petrol blended with 20 per cent ethanol by 2025, five years earlier than the deadline of 2030. Addressing a conference on biofuels, Puri said he was confident that government will be able to supply 20 per cent ethanol blended petrol by next financial year. In February, petrol blended with 20 per cent ethanol was rolled out at selective pumps in 11 states, to promote...
Government confident of providing petrol blended with 20% ethanol by 2025: Hardeep Singh Puri
Government confident of providing petrol blended with 20% ethanol by 2025: Hardeep Singh Puri
Source: IANS
18/04/2023 9:25:22 AM
Bharat Petroleum Corporation trades higher on the BSE Bharat Petroleum Corporation is currently trading at Rs. 354.35, up by 2.90 points or 0.83% from its previous closing of Rs. 351.45 on the BSE. The scrip opened at Rs. 351.45 and has touched a high and low of Rs. 357.60 and Rs. 350.30 respectively. So far 174282 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 398.60 on 21-Apr-2022 and a 52 week low of Rs. 288.20 on 20-Oct-2022. Last one week high and low of the...
Bharat Petroleum Corporation trades higher on the BSE
Bharat Petroleum Corporation trades higher on the BSE
Source: Accord Fintech
20/03/2023 11:22:02 AM
BPCL shines on raising Rs 935.61 crore through NCDs Bharat Petroleum Corporation is currently trading at Rs. 357.00, up by 5.55 points or 1.58% from its previous closing of Rs. 351.45 on the BSE. The scrip opened at Rs. 351.45 and has touched a high and low of Rs. 357.60 and Rs. 350.30 respectively. So far 125294 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 398.60 on 21-Apr-2022 and a 52 week low of Rs. 288.20 on 20-Oct-2022. Last one week high and low of the...
BPCL shines on raising Rs 935.61 crore through NCDs
BPCL shines on raising Rs 935.61 crore through NCDs
Source: Accord Fintech
20/03/2023 10:34:38 AM
Hindustan Petroleum`s Barmer greenfield refinery to reduce India's import reliance : Hardeep Puri Petroleum Minister Hardeep Puri on Tuesday said that the greenfield refinery cum petrochemical complex at Rajasthan's Barmer will turn out to be a "jewel of the desert", as it would help in job creation in the region. The minister, who was in Barmer on a visit to the refinery complex, said that it will process 9 metric million tonnes per annum of crude and produce more than 2.4 million tonnes of petrochemicals, which will reduce import bill on account of petrochemicals. Th...
Hindustan Petroleum`s Barmer greenfield refinery to reduce India's import reliance : Hardeep Puri
Hindustan Petroleum`s Barmer greenfield refinery to reduce India's import reliance : Hardeep Puri
Source: IANS
21/02/2023 5:23:18 PM
BPCL trades in green on planning to raise funds up to Rs 1,500 crore through debentures Bharat Petroleum Corporation is currently trading at Rs. 327.25, up by 1.25 points or 0.38% from its previous closing of Rs. 326.00 on the BSE. The scrip opened at Rs. 326.00 and has touched a high and low of Rs. 328.65 and Rs. 325.85 respectively. So far 36653 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 398.60 on 21-Apr-2022 and a 52 week low of Rs. 288.20 on 20-Oct-2022. Last one week high and low of the ...
BPCL trades in green on planning to raise funds up to Rs 1,500 crore through debentures
BPCL trades in green on planning to raise funds up to Rs 1,500 crore through debentures
Source: Accord Fintech
21/02/2023 10:56:47 AM
Oil falls after industry data points to jump in U.S. crude stocks Oil prices slipped in early Asian trade on Wednesday after falling by more than $1 a barrel in the previous session as industry data pointed to a much bigger-than-expected surge in U.S. crude inventories. Brent crude futures lost 20 cents to $85.38 per barrel by 0111 GMT, while U.S. West Texas Intermediate (WTI) crude futures shed 19 cents to $78.87. U.S. crude inventories rose by about 10.5 million barrels in the week ended Feb. 10, according to market sources citing American Petroleum...
Oil falls after industry data points to jump in U.S. crude stocks
Oil falls after industry data points to jump in U.S. crude stocks
Source: Reuters
15/02/2023 9:14:46 AM
India's fuel demand slips in January from nine-month peak India's fuel demand slipped in January after hitting a nine-month peak in December, hit by lower mobility due to cold weather in parts of the country and a slowdown in industrial activity. Consumption of fuel, a proxy for oil demand, was about 4.6% lower than the previous month at 18.7 million tonnes in January, data from Indian oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed on Wednesday. Sales of diesel fell 7.6% in January from a month ago to 7.18 million to...
India's fuel demand slips in January from nine-month peak
India's fuel demand slips in January from nine-month peak
Source: Reuters
9/02/2023 9:52:35 AM
Petroleum Ministry inks pact with IEA on data sharing The Indian government on Tuesday signed a pact with the Paris-based International Energy Agency (IEA) for strengthening cooperation in the field of data and research and for enhancing global energy security, stability, and sustainability. The Statement of Intent (SoI) was signed in the presence of Petroleum and Urban Affairs Minister Hardeep Puri, by P Manoj Kumar, Director General of Petroleum Planning and Analysis Cell (PPAC) and Fatih Birol, Executive Director of IEA, on the sidelines o...
Petroleum Ministry inks pact with IEA on data sharing
Petroleum Ministry inks pact with IEA on data sharing
Source: IANS
8/02/2023 10:36:48 AM
Chennai Petroleum Corporation trades higher despite reporting 38% fall in Q3 consolidated net profit Chennai Petroleum Corporation is currently trading at Rs. 233.45, up by 4.05 points or 1.77% from its previous closing of Rs. 229.40 on the BSE. The scrip opened at Rs. 232.05 and has touched a high and low of Rs. 243.70 and Rs. 231.90 respectively. So far 244780 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 417.95 on 08-Jun-2022 and a 52 week low of Rs. 94.65 on 24-Feb-2022. Last one week high and low of the...
Chennai Petroleum Corporation trades higher despite reporting 38% fall in Q3 consolidated net profit
Chennai Petroleum Corporation trades higher despite reporting 38% fall in Q3 consolidated net profit
Source: Accord Fintech
27/01/2023 2:00:54 PM
Indias fuel demand hits nine-month high in December India's fuel demand reached a nine-month high in December, helped by strong industrial activity and a rise in gasoline consumption due to an uptick in passenger vehicle sales. Consumption of fuel, a proxy for oil demand, was about 4% higher than the previous month, and rose 3.1% year-on-year to 19.60 million tonnes in December, data from Indian oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed on Monday. "Demand in India, the third largest consumer, was grow...
Indias fuel demand hits nine-month high in December
Indias fuel demand hits nine-month high in December
Source: Reuters
10/01/2023 8:44:59 AM
Petrol export by OMCs rose 142% between 2020-21 and 2021-22 Export of petrol by Indian oil marketing companies (OMCs) rose 142 per cent in a year between 2020-21 and 2021-22, while there was a miniscule rise of less than 1 per cent in export of diesel during the same period. According to official figures, the OMCs exported 668 thousand metric tonnes (TMT) of petrol in 2021-22, which was 142 per cent more than 276 TMT of petrol exported by the country in 2020-21. In 2020-21, the OMCs exported 1,985 TMT of diesel, while in 2021-22, it exported 1,9...
Petrol export by OMCs rose 142% between 2020-21 and 2021-22
Petrol export by OMCs rose 142% between 2020-21 and 2021-22
Source: IANS
2/01/2023 5:29:14 PM
India basket of crude rose 102% between October 2020-October 2022 Even as the average price of Indian basket of crude oil increased by 102 per cent (from $43.34 to $87.55) between October 2020 and October 2022, the retail prices of petrol and diesel have increased in India by only 19.3 per cent and 27.1 per cent, respectively, during this period, sources said. According to Petroleum Ministry sources, petrol prices stood at Rs 81.06 per litre in October 2020, however by October 2022, they had risen only 19.3 per cent to Rs 96.72 per litre. Similarly di...
India basket of crude rose 102% between October 2020-October 2022
India basket of crude rose 102% between October 2020-October 2022
Source: IANS
29/12/2022 9:55:37 AM
Centre holds review meeting on 12% ethanol blending with petrol for 2022-23 The Central government plans to achieve 12 per cent ethanol blending with petrol in 2022-23. Top officials from the food and public distribution as well as petroleum ministries held a meeting on Monday to review the progress of the target. Secretaries from both the ministries and oil marketing companies and chairman of Food Corporation of India (FCI) were also present in the meeting. Ethanol industry showed confidence to supply sufficient ethanol to meet the targets, sources said. ...
Centre holds review meeting on 12% ethanol blending with petrol for 2022-23
Centre holds review meeting on 12% ethanol blending with petrol for 2022-23
Source: IANS
27/12/2022 12:58:47 PM
Oil prices rise but China`s COVID surge limits gains Oil prices rose on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising COVID-19 cases in top oil importer China. Brent crude futures were up 50 cents, or 0.65%, at $80.30 a barrel by 1035 GMT, adding to a 76 cent gain in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose $1, or 1.31%, to $76.19 after climbing 90 cents on Monday. Oil prices have been buoyed by U.S. ...
Oil prices rise but China`s COVID surge limits gains
Oil prices rise but China`s COVID surge limits gains
Source: Reuters
20/12/2022 9:04:01 AM
Malaysia`s exports up 15.6% in November Malaysia's exports rose by 15.6 per cent year on year to 130.24 billion ringgit ($29 billion) in November, official data revealed on Monday. Export expansion was underpinned by strong exports of electrical and electronic (E&E) products, liquefied natural gas (LNG), petroleum products as well as crude petroleum, the Ministry of International Trade and Industry (MITI) said in a statement. According to the statement, E&E products, valued at 53.16 billion ringgit and accounted f...
Malaysia`s exports up 15.6% in November
Malaysia`s exports up 15.6% in November
Source: IANS
19/12/2022 2:58:59 PM
Maruti Suzuki seeks clarity on emission norms Maruti Suzuki India on Monday said it has sought correct accounting of greenhouse gas (GHG) emission benefits of ethanol under the Corporate Average Fuel Economy or CAFE. For promotion of ethanol and flex-fuel, auto industry body SIAM has requested the Road Transport Ministry to make some changes in the policy. Maruti Suzuki India's Managing Director and CEO Hisashi Takeuchi said at an industry event that the company has sought correct accounting of GHG emission benefits of ethanol ...
Maruti Suzuki seeks clarity on emission norms
Maruti Suzuki seeks clarity on emission norms
Source: IANS
14/12/2022 10:45:46 AM
India needs to promote flex-fuel vehicles to deal with fluctuations in crude oil prices : Nitin Gadkari Addressing an event organised by the Society of Indian Automobile Manufacturers (SIAM), Union Road, Transport and Highways Minister Nitin Gadkari has said that the country needs to promote vehicles running on more than one fuel (flex-fuel vehicles) and e-vehicles to tide over the problems created by wide fluctuations in crude oil prices in the international market. The SIAM in New Delhi on Monday organised a technology demonstration conceptualised on adoption of ethanol and use of flex-fue...
India needs to promote flex-fuel vehicles to deal with fluctuations in crude oil prices : Nitin Gadkari
India needs to promote flex-fuel vehicles to deal with fluctuations in crude oil prices : Nitin Gadkari
Source: IANS
13/12/2022 9:29:50 AM
Petrol and diesel can come under GST if all states agree: Hardeep Singh Puri Petroleum Minister Hardeep Puri on Monday said that if states are ready, then the Centre can bring petrol and diesel under the GST regime. Puri, who was in Srinagar, told media persons that for bringing petrol and diesel under GST, the states need to have a consensus. So if the states are ready, then the Centre would also be prepared as it has been ready for it all along, he added, as per reports. At the same time though, he noted that how would be implemented, is another issue altogeth...
Petrol and diesel can come under GST if all states agree: Hardeep Singh Puri
Petrol and diesel can come under GST if all states agree: Hardeep Singh Puri
Source: IANS
15/11/2022 10:04:00 AM
India`s October fuel demand rises on festive season boost India's fuel consumption, a proxy for oil demand, rose to its highest in four months in the festival month of October, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Monday. Consumption in October was 6.7% higher than the previous month, while also up 3.4% year-on-year at 18.37 million tonnes, the data showed. The data indicates that "the negative impact of the monsoon season is now coming to an end," Refinitiv analyst Ehsan Ul Haq ...
India`s October fuel demand rises on festive season boost
India`s October fuel demand rises on festive season boost
Source: Reuters
8/11/2022 10:26:31 AM
Government cuts windfall tax on domestically produced crude oil The government has cut the windfall tax on domestically produced crude oil to Rs 9,500 per tonne from Rs 11,000 per tonne earlier, while increasing the rate on export of diesel and jet fuel (ATF) in line with rise in international oil prices. In the fortnightly revision of windfall tax, the government has hiked the rate on export of diesel to Rs 13 per litre from Rs 12 per litre. The levy on jet fuel too was increased to Rs 5 a litre, from Rs 3.50. The levy on diesel includes Rs 1.50 per l...
Government cuts windfall tax on domestically produced crude oil
Government cuts windfall tax on domestically produced crude oil
Source: Accord Fintech
2/11/2022 1:56:35 PM
Petrol, Diesel prices to be cheaper from today The prices of petrol and diesel have been slashed by 40 paise per litre. The new prices will be effective from 6 a.m. on Tuesday. On Monday, the cost of petrol in the national capital was Rs 96.72, Rs 106.03 in Kolkata, Rs 106.31 in Mumbai and Rs 102.63 in Chennai. The drop in prices was expected as international crude oil prices dropped and have remained stable for some time. The crude oil price has remained below 95 dollars per barrel for some time now. The drop in fuel prices come...
Petrol, Diesel prices to be cheaper from today
Petrol, Diesel prices to be cheaper from today
Source: IANS
1/11/2022 9:40:33 AM
India`s August crude imports fall m/m on monsoon demand lull India's crude oil imports fell more than 13% in August month-on-month, government data showed on Monday, as monsoon rains restricted activity and slowed consumption in the world's third-biggest oil consumer. Crude oil imports last month fell to 17.55 million tonnes from July, data from the website of the Petroleum Planning and Analysis Cell showed. But, imports in August were up 0.9%, compared with the corresponding period last year. Demand for industrial fuel such as diesel typ...
India`s August crude imports fall m/m on monsoon demand lull
India`s August crude imports fall m/m on monsoon demand lull
Source: Reuters
19/09/2022 4:09:27 PM
Botswana gets first fuel price fall in 2022  Botswana witnessed its first-ever drop in fuel prices in 2022, said the country's energy authorities. According to a press release from Botswana Energy Regulatory Authority, pump prices for petrol, diesel and illuminating paraffin will decrease by 1 pula ($0.076), 0.23 pula and 0.08 pula per liter, respectively, Xinhua news agency reported. The authority said the decrease was necessitated by the fall in oil prices over the past two months. Brent Crude averaged $97.74 per barre...
Botswana gets first fuel price fall in 2022
Botswana gets first fuel price fall in 2022
Source: IANS
12/09/2022 10:01:10 AM
Excise duties on petrol, diesel zoomed up despite crude staying below $80 Excise duty on petrol went up by a huge 194 per cent while on diesel it rose by a stupendous 512 per cent between 2014-15 and 2021-22 even as crude oil prices remained below $80 per barrel between 2015-16 and 2021-22, thus burdening the common man. The government's revenue generation through levy of excise duty saw a growth of 126 per cent between 2014-15 and 2021-22. The income growth was 186 per cent during the same period. According to official data provided by the Petroleum Mini...
Excise duties on petrol, diesel zoomed up despite crude staying below $80
Excise duties on petrol, diesel zoomed up despite crude staying below $80
Source: IANS
11/09/2022 9:45:05 AM
India`s July fuel demand rises 6.1% year-on-year India's fuel demand in July rose 6.1% year-on-year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Monday. Consumption of fuel, a proxy for oil demand, totalled 17.62 million tonnes in July, down 5.7% from 18.68 million tonnes in June. "India's fuel demand outlook is improving as the economy is poised for a strong bounce back in consumption and continued momentum for the services sector," said Edward Moya, senior analyst with OA...
India`s July fuel demand rises 6.1% year-on-year
India`s July fuel demand rises 6.1% year-on-year
Source: Reuters
9/08/2022 9:21:55 AM
Bangladesh hikes fuel prices to highest in history Bangladesh's retail fuel prices have been hiked to levels not seen since the country's independence in 1971. The Bangladeshi government on Friday night hiked the fuel prices by up to 51.7 per cent with effect from Saturday, reports Xinhua news agency. According to a price notification from the Ministry of Power, Energy and Mineral Resources, a liter of octane now costs 135 taka ($1.43), which is 51.7 per cent higher than the previous rate of 89 taka. The prices of diesel and ...
Bangladesh hikes fuel prices to highest in history
Bangladesh hikes fuel prices to highest in history
Source: IANS
6/08/2022 1:19:08 PM
India eases windfall tax on petrol, diesel, aviation fuel, crude oil The government on Wednesday (20 July 2022) slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates. It reduced the windfall tax on diesel and aviation turbine fuel (ATF) by Rs 2 a litre and scrapped a Rs 6 per litre tax on export of petrol. The tax on ATF has now been cut to Rs 4 a litre from Rs 6 and on diesel to Rs 11 from Rs 13 per litre. Further, the Rs 23,250 per tonne additional tax on crude oil produced domestically has been cut ...
India eases windfall tax on petrol, diesel, aviation fuel, crude oil
India eases windfall tax on petrol, diesel, aviation fuel, crude oil
Source: Dion Global Solutions Ltd
20/07/2022 3:10:09 PM
Assam to be completely fossil fuel free by 2031, says CM Assam Chief Minister Himanta Biswa Sarma on Tuesday claimed that there will be no usage of fossil fuels by 2031 in the state. Speaking at a function after inaugurating a solar plant in Assam's Udalguri district, he said: "The complete elimination of the use of petrol, diesel in Assam will happen by 2031. The electric vehicles will be used in the substitute of fossil fuel." According to a senior government official, Assam is looking forward to producing 50,000 MW of solar p...
Assam to be completely fossil fuel free by 2031, says CM
Assam to be completely fossil fuel free by 2031, says CM
Source: IANS
19/07/2022 8:54:36 PM
Sri Lanka reduces fuel prices amid shortage Sri Lanka's state-owned Ceylon Petroleum Corporation (CPC) and the Lanka Indian Oil Corporation (LIOC) have reduced the retail price of fuel. The two state-owned oil companies reduced the retail price of fuel from Sunday evening, Xinhua news agency reported. The price of a litre of Octane 92 petrol will be reduced by Rs 20, and the new retail price will be Rs 450 ($1.25). Octane 95 petrol will sell for Rs 540 per litre, down by Rs 10. The diesel price will be slashed by Rs 20 ...
Sri Lanka reduces fuel prices amid shortage
Sri Lanka reduces fuel prices amid shortage
Source: IANS
18/07/2022 8:50:53 AM
Maharashtra cuts petrol rate by Rs 5/litre, diesel Rs 3/litre  In a relief, the Maharashtra government has slashed VAT on petrol and diesel by Rs 5 per litre and Rs 3 per litre respectively, Chief Minister Eknath Shnde announced here on Thursday. This would entail a burden of Rs 6,000 crore on the state exchequer but will lead to reducing the inflation, Shinde said, after a cabinet meeting. Deputy Chief Minister Devendra Fadnavis said the move to cut petrol-diesel rates was in tune with the new government's commitment to public welfare an...
Maharashtra cuts petrol rate by Rs 5/litre, diesel Rs 3/litre
Maharashtra cuts petrol rate by Rs 5/litre, diesel Rs 3/litre
Source: IANS
14/07/2022 4:38:25 PM
Time to review windfall tax on oil The fall in the crude oil prices as well as the refining margin for diesel, petrol and aviation turbine fuel, raises the question whether the Indian government should continue with its windfall tax, said CLSA Ltd in a report. The last two weeks have seen a massive crash in the refining spreads of diesel, gasoline and aviation fuel coinciding with a cool-off in crude prices from their respective peaks seen in June, the report said. Given this situation, CLSA wondered whether there is a n...
Time to review windfall tax on oil
Time to review windfall tax on oil
Source: IANS
13/07/2022 2:11:34 PM
India`s June fuel demand rises 17.9% year-on-year India's fuel consumption in June rose by 17.9% from a year earlier, government data showed on Friday, as demand in the world's No.3 oil consumer headed back towards pre-pandemic levels. Global oil prices have surged in response to concerns about tight supplies and disruption linked to oil producer Russia's invasion of Ukraine, but Indian consumers have to an extent been sheltered as Indian refiners have bought cheaper Russian fuel the West has shunned. Consumption of fuel, a...
India`s June fuel demand rises 17.9% year-on-year
India`s June fuel demand rises 17.9% year-on-year
Source: Reuters
9/07/2022 9:41:35 AM
Maruti Suzuki not to have pure petrol cars in a decade With emission and fuel efficiency norms getting tighter, India's largest car maker Maruti Suzuki India Ltd expects to have only hybrid (mild and strong), flexible fuel, compressed natural gas (CNG), electric, bio-fuel powered vehicles, said a senior official. As a result, pure petrol powered cars may not figure in the company's portfolio of cars in a decade. Already the company has stopped rolling out diesel powered cars. Maruti Suzuki is also focusing on growing its sport utili...
Maruti Suzuki not to have pure petrol cars in a decade
Maruti Suzuki not to have pure petrol cars in a decade
Source: IANS
6/07/2022 11:58:23 AM
`Windfall taxes not to impact RIL majorly, brings windfall for government` The special additional excise duty on exports of crude, petrol, diesel, and aviation turbine fuel announced by the Central government recently will not have any major impact on Reliance Industries Ltd (RIL), said experts. The experts also said the additional duties will more than compensate the government which had cut the excise duty on petrol and diesel in May. "With fuel export tax for refiners being reviewed every fortnight, we see limited impact on RIL's earnings, with abo...
`Windfall taxes not to impact RIL majorly, brings windfall for government`
`Windfall taxes not to impact RIL majorly, brings windfall for government`
Source: IANS
4/07/2022 3:14:17 PM
Sri Lanka won't receive fuel shipments this week and next: Minister Kanchana Wijesekera Amid the ongoing economic crisis in Sri Lanka, Minister of Power and Energy Kanchana Wijesekera said the island nation will not receive shipments of petrol, diesel and crude oil, scheduled for this week and next week. The Minister said that suppliers have informed state-owned fuel importer and distributor Ceylon Petroleum Corporation (CPC) that they will not make the scheduled deliveries due to banking and logistic reasons, reports Xinhua news agency. Wijesekera said public transportati...
Sri Lanka won't receive fuel shipments this week and next: Minister Kanchana Wijesekera
Sri Lanka won't receive fuel shipments this week and next: Minister Kanchana Wijesekera
Source: IANS
26/06/2022 11:00:56 AM
Gasoline prices in Slovenia reach record high Gasoline prices in Slovenia jumped to record high after the government's May decree to cap retail prices expired. THe gasoline prices soared on Tuesday after the Slovenian government decree to cap retail prices expired on Monday, Xinhua news agency reported. On Tuesday, the price for 95-octane petrol on highways reached 1.94 euros per litre, up from the previous record of 1.78 euros on May 10. The price of diesel reached 2.28 euros per litre, up from the previous record of 1.92 euro...
Gasoline prices in Slovenia reach record high
Gasoline prices in Slovenia reach record high
Source: IANS
22/06/2022 8:51:20 AM
Petrol prices in Vietnam spike for 12th time this yr Petrol prices in Vietnam have set another new record after being spiked for the 12th time this year. This is the third time that fuel prices have increased in the country this month, reports Xinhua news agency. From Tuesday, the price of RON95 bio-fuel per litre was raised by 498 Vietnamese dongs ($0.022) to a record-high of 32,873 Vietnamese dongs, reports Xinhua news agency. The price of E5 RON92 petrol rose by 185 Vietnamese dongs and that of diesel oil went up by 999 Vietnamese d...
Petrol prices in Vietnam spike for 12th time this yr
Petrol prices in Vietnam spike for 12th time this yr
Source: IANS
21/06/2022 4:21:41 PM
Can EVs be charged like mobiles? Two MIET students may have the answer Like diesel and petrol vehicles, now electric vehicles will also be able to cover long distances, thanks to the invention of two students of Meerut Institute of Engineering and Technology (MIET). With the innovation of the Wireless Electric Vehicles Charging System by Sagar Kumar and Rohit Rajbhar, the electric vehicles will get charged while driving. They said that electric vehicles are running on the roads to save the environment but due to the limited number of charging points, the v...
Can EVs be charged like mobiles? Two MIET students may have the answer
Can EVs be charged like mobiles? Two MIET students may have the answer
Source: IANS
19/06/2022 10:55:27 AM
India's fuel consumption up 22% in May 2022: S&P Global S&P Global Commodity Insights in a note has said that India's fuel consumption was up 860,000 barrels per day or 22 per cent year-on-year in May 2022 from a low base in 2021. It said the demand for May was some 80,000 barrel higher than its growth forecast, partly due to stronger-than-expected demand for transportation and the government's announcement of a cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre, which provided some support for de...
India's fuel consumption up 22% in May 2022: S&P Global
India's fuel consumption up 22% in May 2022: S&P Global
Source: Accord Fintech
15/06/2022 1:41:03 PM
India's fuel demand jumps 24% year-on-year in May India's fuel consumption jumped 23.8% in May from a year earlier, continuing a recovery from a relatively low base in 2021 when the world's third biggest oil consumer was in the grip of a second wave of COVID-19. Consumption of fuel, a proxy for oil demand, totalled 18.27 million tonnes last month, according to data from the Indian oil ministry's Petroleum Planning and Analysis Cell. Last month's increase was the biggest year-on-year jump since April 2021. Consumption al...
India's fuel demand jumps 24% year-on-year in May
India's fuel demand jumps 24% year-on-year in May
Source: Reuters
11/06/2022 9:20:29 AM
RBI says further cut in state VAT on fuels can soften inflationary pressure, expectations A further reduction of state value added taxes on petrol and diesel across the country would certainly contribute to softening of the inflationary pressures as well as the inflationary expectations, said the Reserve Bank of India Governor Shaktikanta Das on Wednesday. Das said in his remarks while spelling out the outcome of the ongoing monetary policy review meeting that started on Monday. "Our quick survey of urban households undertaken after the excise duty cuts on petrol and di...
RBI says further cut in state VAT on fuels can soften inflationary pressure, expectations
RBI says further cut in state VAT on fuels can soften inflationary pressure, expectations
Source: IANS
8/06/2022 2:30:49 PM
India achieves target to supply 10% ethanol-blended petrol; targets to double it by 2025-26 India has achieved the target of supplying 10 per cent ethanol-blended petrol five months ahead of schedule. This translates into a forex impact of over Rs 41,500 crore, reduced greenhouse gas (GHG) emissions of 27 lakh tonnes and has also led to the expeditious payment of over Rs 40,600 crore to farmers. In order to cut oil import dependence and address environmental issues, the country is aiming to double the blend by 2025-26. The original target for doping 10 per cent ethanol, extracted fr...
India achieves target to supply 10% ethanol-blended petrol; targets to double it by 2025-26
India achieves target to supply 10% ethanol-blended petrol; targets to double it by 2025-26
Source: Accord Fintech
6/06/2022 9:38:56 AM
India achieves target of 10% ethanol blending in petrol ahead of schedule: PM Narendra Modi Prime Minister Narendra Modi on Sunday said that India has achieved the target of 10 per cent ethanol blending in petrol ahead of schedule. Prime Minister Modi was speaking at a programme on 'Save Soil Movement' at Vigyan Bhawan here. 'Save Soil Movement' is a global movement to increase awareness about deteriorating soil health and bring about a conscious response to improve it. The movement was started by Sadhguru in March 2022, who embarked on a 100-day motorcycle jou...
India achieves target of 10% ethanol blending in petrol ahead of schedule: PM Narendra Modi
India achieves target of 10% ethanol blending in petrol ahead of schedule: PM Narendra Modi
Source: IANS
5/06/2022 1:39:16 PM
Petrol prices up for 10th time in Vietnam this year Petroleum prices in Vietnam broke a record after being adjusted up for the 10th time so far this year. From Wednesday, the price of RON95 bio-fuel per liter was raised by 921 Vietnamese dongs ($0.04) to 31,578 Vietnamese dongs, making a new record, reports Xinhua news agency. E5 RON92 petro price rose by 602 Vietnamese dongs and diesel oil was up by 841 Vietnamese dongs. It was the 13th adjustment to petrol prices since the beginning of this year and the fifth consecutive rise since ...
Petrol prices up for 10th time in Vietnam this year
Petrol prices up for 10th time in Vietnam this year
Source: IANS
2/06/2022 10:05:33 AM