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India fuel sales slow due to monsoon rains Indian state retailers' gasoline and diesel sales fell in the first half of August from the previous month and a year ago, preliminary sales data showed on Wednesday, as industrial activity and mobility was hit due to monsoon rains. 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. State retailers sold 1.19 million metric tons of g...
India fuel sales slow due to monsoon rains
India fuel sales slow due to monsoon rains
Source: Reuters
16/08/2023 11:19:40 AM
Centre hikes windfall tax on crude, diesel and jet fuel  The government on Monday raised the windfall tax on domestically-produced crude, diesel and aviation turbine fuel (ATF) or jet fuel. The windfall tax on crude oil will increase from Rs 4,250 to Rs 7,100 per tonne, according to a gazette notification issued on Monday. It has also increased the levy on diesel from Rs 1 to Rs 5.50 per litre and on jet fuel from nil to Rs 2 per litre. The new rates will be applicable from August 15 onwards, the notification said. India had first...
Centre hikes windfall tax on crude, diesel and jet fuel
Centre hikes windfall tax on crude, diesel and jet fuel
Source: IANS
15/08/2023 9:45:26 AM
Heavy rains dampen India`s gasoil, gasoline sales in July Indian state retailers' gasoline and diesel sales fell in July from the previous month as monsoon rains reduced mobility and construction work, according to preliminary sales data. 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. Monthly gasoil sales in absolute terms in July fell about 13.7% to 6.15 million tonnes while gasoline ...
Heavy rains dampen India`s gasoil, gasoline sales in July
Heavy rains dampen India`s gasoil, gasoline sales in July
Source: Reuters
1/08/2023 12:49:16 PM
Government hikes windfall tax on crude petroleum, diesel; applicable from August 1 Government has hiked the Special Additional Excise Duty (SAED) or windfall tax on crude petroleum from Rs 1,600 per tonne to Rs 4,250 per tonne. It has also increased the windfall tax on diesel to Re.1 per litre from zero. According to a gazette notification, these changes will come into effect from August 1 onwards. The windfall tax on petrol however will continue to be at ‘nil’, the notification said. Similarly, SAED on jet fuel or aviation turbine fuel (ATF) will al...
Government hikes windfall tax on crude petroleum, diesel; applicable from August 1
Government hikes windfall tax on crude petroleum, diesel; applicable from August 1
Source: IANS
1/08/2023 10:10:30 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
India`s Reliance sells diesel at cheaper rates than state retailers - dealers India's Reliance Industries Ltd, operator of the world's biggest refining complex, is selling diesel at a cheaper rate than state fuel retailers, several petrol pump dealers said on Tuesday, helping boost local sale of its fuel. The retail fuel joint venture of Reliance and BP is selling diesel at about 1 rupee a litre lower than that of state-run Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum, at least six dealers who operate fuel stations under the Jio-BP brand sa...
India`s Reliance sells diesel at cheaper rates than state retailers - dealers
India`s Reliance sells diesel at cheaper rates than state retailers - dealers
Source: Reuters
16/05/2023 3:02:32 PM
India cuts windfall tax on petroleum crude India has cut windfall tax on petroleum crude to zero from 4,100 rupees ($50.13) per tonne, effective May 16, according to a government notification. It left the windfall tax on petrol, diesel and aviation turbine fuel (ATF) unchanged at zero. On May 1, the levy on petroleum crude was lowered to 4,100 rupees per tonne from 6,400 rupees per tonne. India last July had imposed the windfall tax on crude oil producers and extended the levy on exports of gasoline, diesel and ATF after priv...
India cuts windfall tax on petroleum crude
India cuts windfall tax on petroleum crude
Source: Reuters
16/05/2023 9:00:20 AM
India government panel proposes ban on diesel 4-wheeler vehicles by 2027 India should ban the use of diesel-powered four-wheeler vehicles by 2027 and switch to electric and gas-fuelled vehicles in cities with more than a million people and polluted towns in order to cut emissions, an oil ministry panel is recommending. India, one of the biggest emitters of green house gases, wants to produce 40% of its electricity from renewables to achieve its 2070 net zero goal. "By 2030, no city buses should be added which are not electric...diesel buses for city tra...
India government panel proposes ban on diesel 4-wheeler vehicles by 2027
India government panel proposes ban on diesel 4-wheeler vehicles by 2027
Source: Reuters
8/05/2023 2:21:10 PM
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
India plans to extend fuel export curbs beyond March India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources with direct knowledge of the matter said. The extension of rules may discourage some Indian refiners, mainly private companies, from buying Russian fuels for re-exports to countries including those in Europe that have stopped purchases of refined products from Russia due to its invas...
India plans to extend fuel export curbs beyond March
India plans to extend fuel export curbs beyond March
Source: Reuters
20/03/2023 1:56:09 PM
Vietnam cuts retail fuel prices slightly Vietnam has cut retail prices of gasoline and other oil products by up to 3.5 per cent due to recent decreases in global oil prices, the Ministry of Industry and Trade said. Diesel prices were down by 3.5 per cent to 20,806 Vietnamese dong ($0.87) per litre while kerosene lowered 3.46 per cent to 20,846 Vietnamese dong, the Ministry said in a statement on Tuesday. Gasoline prices inched down by between 1.36 and 1.43 per cent to 23,443 Vietnamese dong per litre for RON95 bio-fuel, and 22...
Vietnam cuts retail fuel prices slightly
Vietnam cuts retail fuel prices slightly
Source: IANS
22/02/2023 9:52:37 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
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
Diesel launches new smartwatch with Snapdragon Wear 4100+ in India Diesel, a portfolio brand of Fossil Group, on Monday launched its new smartwatch powered with Snapdragon Wear 4100+ and the latest version of Wear OS by Google in the country. The 'Griffed Gen 6' smartwatch is priced at Rs 25,995 and is available at Dieselindia.com and in select Diesel stores, the company said in a statement. The new smartwatch comes with a new 'Companion' application which offers a better experience for browsing and customising watch faces, and viewing ...
Diesel launches new smartwatch with Snapdragon Wear 4100+ in India
Diesel launches new smartwatch with Snapdragon Wear 4100+ in India
Source: IANS
26/12/2022 2:11:04 PM
India`s e-bus ambition hits financing speed bump Indian banks are reluctant to lend to electric-bus makers for supply to ailing state transport operators over concerns on recovery of dues, hurting the country's goal of curbing vehicle emissions, said banking, industry and government sources. The lack of funding is limiting the ability of e-bus makers to participate in federal government tenders to supply to states, the sources told Reuters, threatening to slow the electrification of major public transport now reliant on diesel. In...
India`s e-bus ambition hits financing speed bump
India`s e-bus ambition hits financing speed bump
Source: Reuters
17/12/2022 3:21:02 PM
India cuts windfall tax on crude, aviation fuel India has cut windfall tax on crude oil and aviation turbine fuel (ATF) and reduced export tax on diesel, according to a government order dated Dec. 15. It cut the tax on locally produced crude oil steeply to 1,700 rupees ($20.52) per tonne from 4,900 rupees, effective Friday, the order said. The federal government also cut export tax on diesel to 5 rupees per litre from 8 rupees, while slashing the windfall tax on ATF to 1.5 rupees per litre from 5 rupees, the document showed. The m...
India cuts windfall tax on crude, aviation fuel
India cuts windfall tax on crude, aviation fuel
Source: Reuters
16/12/2022 9:19:26 AM
Oil prices rise after OPEC+ keeps output cut targets, China eases COVID curbs Oil prices edged up on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude. At the same time, in a positive sign for fuel demand, more Chinese cities eased COVID-19 curbs over the weekend, though the partial easing in policies sowed confusion across the country on Monday. While prices rose as much as 2% earlier in the day, both the Brent and U.S. West Texas Intermediate (WTI) contracts have since pared som...
Oil prices rise after OPEC+ keeps output cut targets, China eases COVID curbs
Oil prices rise after OPEC+ keeps output cut targets, China eases COVID curbs
Source: Reuters
5/12/2022 9:17:12 AM
Government slashes windfall tax on locally produced oil, diesel exports  The Government on Thursday announced reduction in windfall tax on locally produced oil, which has been brought down to Rs 4,900 per tonne. In addition to this, it also cut export tax on diesel to Rs 6.5 per litre. These rates would come into effect from December 2, 2022. Windfall tax, which is also known as special additional excise duty, was brought in by the government on July 1 this year to tax the industry on extraordinary profits, which it earned through sale of refined crude...
Government slashes windfall tax on locally produced oil, diesel exports
Government slashes windfall tax on locally produced oil, diesel exports
Source: IANS
2/12/2022 10:33:35 AM
India raises windfall tax on crude oil India has raised a windfall tax on crude oil to 10,200 Indian rupees ($125.22) per tonne from 9,500 rupees per tonne, a government order said on Wednesday. India has also cut export tax on diesel to 10.50 rupees per liter from 13 rupees per liter, the order said. ($1 = 81.4570 Indian rupees)
India raises windfall tax on crude oil
India raises windfall tax on crude oil
Source: Reuters
17/11/2022 9:00:08 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
Indian Oil offers first diesel export since mid-September - sources Indian Oil Corp has offered one diesel cargo to be loaded in early December, its first export in almost three months, three sources who reviewed the tender document said on Thursday. "The availability could be because of supply resumption after the end of a turnaround at one of the company's Paradip refinery in mid- to second half September," one of the sources said. The tender to sell up to 16,460 tonnes of diesel loading from Paradip will close on Nov. 11, with bids to r...
Indian Oil offers first diesel export since mid-September - sources
Indian Oil offers first diesel export since mid-September - sources
Source: Reuters
10/11/2022 4:32:55 PM
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
Government cuts windfall tax on domestic crude oil, hikes levy on jet fuel In its fortnightly review of windfall tax, the government on Tuesday slashed the levy on domestically produced crude oil, though it hiked the tax on export of diesel and jet fuel or ATF in sync with high international prices. Tax on domestically produced crude oil was brought down to Rs 9,500 per tonne from Rs 11,000, effective November 2, a notification said. Windfall tax on jet fuel was increased to Rs 5 per litre, from Rs 3.50 per litre. The government also hiked the levy on expor...
Government cuts windfall tax on domestic crude oil, hikes levy on jet fuel
Government cuts windfall tax on domestic crude oil, hikes levy on jet fuel
Source: IANS
2/11/2022 9:42:44 AM
Festive demand drives up Indian state refiners gasoil sales in October Indian state fuel retailers' diesel sale in October surged from the previous month, preliminary sales data shows, indicate a pick up in industrial activity during the peak festive season. Fuel demand in India- a proxy for oil demand in Asia's third-largest economy- typically rises during the month long festival season as diesel-guzzling trucks hit the roads to deliver goods. State-refiners' average daily gasoil sales last month rose 6.2% from September and was 12% higher tha...
Festive demand drives up Indian state refiners gasoil sales in October
Festive demand drives up Indian state refiners gasoil sales in October
Source: Reuters
1/11/2022 3:48:54 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
White House Planning Oil Reserve Release Announcement This Week - Gasoline, Diesel Export Limits Decision Could Come In November White House Planning Oil Reserve Release Announcement This Week - Gasoline, Diesel Export Limits Decision Could Come In November
White House Planning Oil Reserve Release Announcement This Week - Gasoline, Diesel Export Limits Decision Could Come In November
White House Planning Oil Reserve Release Announcement This Week - Gasoline, Diesel Export Limits Decision Could Come In November
Source: investmentguruindia
18/10/2022 9:27:52 AM
India cuts windfall tax on crude oil output, diesel exports The Indian government has cut a windfall tax on domestically produced crude oil to 8,000 rupees per tonne from 10,500 rupees per tonne from Sunday, after a decline in global oil prices. India has also scrapped an export tax on jet fuel and halved export duties on diesel to 5 rupees per litre from Sunday, a government notification said.
India cuts windfall tax on crude oil output, diesel exports
India cuts windfall tax on crude oil output, diesel exports
Source: IANS
2/10/2022 9:06:03 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 August fuel demand steady m-o-m, diesel consumption drops India's August fuel consumption was little changed from the previous month, government data released on Wednesday showed, even as diesel demand dropped to the lowest this year during monsoon season in the world's No. 3 oil consumer. Fuel consumption, a proxy for oil demand, rose 16.3% to 17.81 million tonnes from August 2021, but was up only marginally from 17.61 million tonnes in July, data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed. "In...
India`s August fuel demand steady m-o-m, diesel consumption drops
India`s August fuel demand steady m-o-m, diesel consumption drops
Source: IANS
8/09/2022 8:55:34 AM
Union Labour Ministry extends public utility service status for three industries Ministry of Labour and Employment has extended the public utility service status of three industries: industries engaged in the manufacture or production of mineral oil (crude oil), motor and aviation spirit, diesel oil, kerosene oil, fuel oil, diverse hydrocarbon oils and their blends including synthetic fuels, lubricating oils; industries engaged in food stuffs; and the iron and steel industry. These industries are covered under the first schedule of the Industrial Disputes Act, 1947 (14 of...
Union Labour Ministry extends public utility service status for three industries
Union Labour Ministry extends public utility service status for three industries
Source: IANS
1/09/2022 11:10:20 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
Bihar government to give subsidy on diesel to woo farmers  While "Muft Ki Rewdi" (freebies) has become a political issue in the country, Bihar's Nitish Kumar government on Thursday decided to give subsidy on diesel for agriculture purpose for the next three months. State Agriculture Minister Amrendra Pratap Singh said that the farmers can avail subsidy of Rs 600 for one acre per month, subject to a ceiling of 8 acres. "We have taken the decision to help farmers with low-cost irrigation. A large part of Bihar comes under...
Bihar government to give subsidy on diesel to woo farmers
Bihar government to give subsidy on diesel to woo farmers
Source: IANS
29/07/2022 9:03:52 AM
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
India cuts windfall tax on local crude sales, fuel exports India has cut a windfall tax on oil producers and refiners and exempted gasoline from an export levy, less than three weeks after it imposed the two charges. Shares in oil companies that will benefit from the move rose. Reliance Industries jumped 4.3%, Oil India 8.8%, Oil and Natural Gas Corp 6.8% and Vedanta 4.3%.The government said in a statement an export tax of 6 rupees a liter no longer applied to gasoline. It had also reduced duty on diesel and aviation-fuel exports by 2 rupees a lit...
India cuts windfall tax on local crude sales, fuel exports
India cuts windfall tax on local crude sales, fuel exports
Source: Reuters
20/07/2022 8:47:19 AM
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
India`s export curbs, tax hike to exacerbate global diesel, gasoline shortage  India's latest measures aimed at boosting domestic oil supplies could reduce its diesel and gasoline exports in the second half of the year, keeping global supplies tight and underpinning prices, traders and analysts said. The world is grappling with tight gasoline and diesel supplies as Western sanctions have reduced exports from Russia while demand has surged in a post-pandemic recovery. India's curbs follow similar measures taken by China that have reduced oil product e...
India`s export curbs, tax hike to exacerbate global diesel, gasoline shortage
India`s export curbs, tax hike to exacerbate global diesel, gasoline shortage
Source: Reuters
6/07/2022 1:59:41 PM
`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
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 diesel sales rise 48% in first two weeks of June NEW DELHI  - India's gasoil demand rose at a rapid pace during the first two weeks of June, preliminary data released on Wednesday showed, and long queues appeared at some fuel stations as concerns grew over supply. State-controlled retailers sold 3.4 million tonnes of gasoil from June 1 to 14, up 47.8% from the same period a year earlier and 12% from the same period last month, the data showed. Sales of gasoline were 1.28 million tonnes, up 54.2% year-over-year. The government...
India diesel sales rise 48% in first two weeks of June
India diesel sales rise 48% in first two weeks of June
Source: Reuters
15/06/2022 9:04:38 PM
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
Freight rates come down in May as transporters passed on benefit of lower diesel prices: Crisil Credit rating agency Crisil in its latest report has said that freight rates have come down in May 2022 as transporters passed on the benefit of the lower diesel prices due to a cut in excise duty. It noted that cement and mining applications saw a flattish trajectory in freight rates in May owing to the high base of April, while for the auto-carriers, agri-products, container, FMCG/FMCD, petroleum tankers, textile and steel, these rates saw a lower single-digit drop. The report said CRISF...
Freight rates come down in May as transporters passed on benefit of lower diesel prices: Crisil
Freight rates come down in May as transporters passed on benefit of lower diesel prices: Crisil
Source: Accord Fintech
3/06/2022 12:18:44 PM