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Lower petrol and diesel consumption, make transportation sustainable in India: Experts As the enterprises strive to embed the environmental, social, and governance (ESG) framework into their core business model, industry experts on Tuesday said they are trying to make transportation in India more sustainable by lowering the consumption of petroleum and diesel.  India has been seeing record petrol and diesel consumption in vehicle sales, while electric vehicles are yet to make a mark. According to the Petroleum Ministry, though electric vehicle sales are getting traction...
Lower petrol and diesel consumption, make transportation sustainable in India: Experts
Lower petrol and diesel consumption, make transportation sustainable in India: Experts
Source: IANS
2024-11-06 11:13:51 am
Petrol, jet fuel, LPG sales surge as economy picks up pace India's petrol, aviation turbine fuel, and LPG consumption shot up in October this year compared to the same month last year, reflecting the rising demand for these fuels in a growing economy.  While petrol sales have gone up by 7.3 per cent, LPG consumption surged by 7.5 per cent and jet fuel demand increased 2.5 per cent year-on-year during the festive season, according to data released by the public sector oil companies on Friday. However, diesel sales declined by 3.3 per ce...
Petrol, jet fuel, LPG sales surge as economy picks up pace
Petrol, jet fuel, LPG sales surge as economy picks up pace
Source: IANS
2024-11-02 09:04:48 am
Indian petrochemicals sector to reach $300 billion by 2025: Hardeep Puri The market size of the Indian chemicals and petrochemicals sector is expected to grow to approximately $300 billion by 2025, up from its current market size of $220 billion, Union Petroleum Minister Hardeep Singh Puri said on Friday.  Addressing the ‘Roundtable on Petrochemical’ during the ‘India Chem 2024’, the minister said the demand for chemicals is predicted to nearly triple and the petrochemicals industry in India may reach $1 trillion by 2040. The che...
Indian petrochemicals sector to reach $300 billion by 2025: Hardeep Puri
Indian petrochemicals sector to reach $300 billion by 2025: Hardeep Puri
Source: IANS
2024-10-19 08:51:19 am
Petrol, diesel likely to see Rs 2-3 per litre cut if crude prices remain stable  Healthy marketing margins on auto fuels could spur price reductions of Rs 2-3 per litre in petrol and diesel prices in the country if crude prices remain stable, leading rating agency ICRA said on Thursday.  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 crud...
Petrol, diesel likely to see Rs 2-3 per litre cut if crude prices remain stable
Petrol, diesel likely to see Rs 2-3 per litre cut if crude prices remain stable
Source: IANS
2024-09-26 01:43:16 pm
Petrol, diesel prices may see a cut after October 5 Petrol and diesel prices may be reduced after October 5, according to CLSA, which has based its report on speculation after comments by Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, suggesting a cut last month.  The prices have not changed since March 2024. Jain had said that the state-run oil marketing companies (OMCs) may consider reducing petrol and diesel prices if international crude prices stay low for an extended period, as per media reports. The CLSA in its...
Petrol, diesel prices may see a cut after October 5
Petrol, diesel prices may see a cut after October 5
Source: IANS
2024-09-25 03:05:10 pm
India considers cutting prices of petrol, diesel, India Today says India is considering cutting the prices of petrol and diesel, broadcaster India Today TV said on Friday, citing sources. The finance ministry did not immediately respond to a request for comment on the report.
India considers cutting prices of petrol, diesel, India Today says
India considers cutting prices of petrol, diesel, India Today says
Source: Reuters
2024-09-06 12:59:21 pm
India’s aim to blend 20% ethanol in petrol by 2025 will need more sugarcane utilisation: CRISIL CRISIL Ratings in its latest report has said that India’s aim to blend 20 per cent ethanol in petrol by Ethanol Supply Year (ESY) 2025 or around 990 crore litre annually, will require effective utilisation of both grain and sugarcane feedstock to increase its supply. This will also help optimise sugar inventory, particularly considering the high carry-over stock expected at the end of the current season owing to the government restriction on diversion for ethanol production and exports....
India’s aim to blend 20% ethanol in petrol by 2025 will need more sugarcane utilisation: CRISIL
India’s aim to blend 20% ethanol in petrol by 2025 will need more sugarcane utilisation: CRISIL
Source: Accord Fintech
2024-08-20 12:53:19 pm
India cuts windfall tax on petroleum crude The Indian government has cut the windfall tax on petroleum crude to 3,250 Indian rupees ($38.90) per metric ton from 5,200 rupees, effective June 15, according to a notification issued on Friday. The tax, which is revised every fortnight, remained unchanged at zero for diesel and aviation turbine fuel. India on June 1 cut the windfall tax on petroleum crude to 5,200 rupees per metric ton from 5,700 rupees. From July 2022, India started taxing crude oil production and exports of gaso...
India cuts windfall tax on petroleum crude
India cuts windfall tax on petroleum crude
Source: Reuters
2024-06-15 10:04:41 am
`Petrol cheaper in Assam than West Bengal`: CM Sarma defends hike A day after Lok Sabha poll results were declared, the Assam government hiked taxes on petrol and diesel. Chief Minister Himanta Biswa Sarma claimed that the prices of fuel are cheaper in Assam by at least Rs 7 compared to Opposition-ruled states like West Bengal. The Assam government has hiked VAT on petrol and diesel and as a result, petrol gets costlier by Rs 1.01 while the price of diesel has been increased by Rs 1.02 in the state since Thursday midnight. People have expressed their ...
`Petrol cheaper in Assam than West Bengal`: CM Sarma defends hike
`Petrol cheaper in Assam than West Bengal`: CM Sarma defends hike
Source: IANS
2024-06-06 04:47:30 pm
Oil & gas stocks index down 2 pc after petrol and diesel price cut  The oil and gas stocks index witnessed major selling on Friday, and was down 2 per cent after the OMCs slashed petrol and diesel prices by Rs 2 per litre, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services. Among the index constituents, HPCL was down 6 per cent, IOC was down 5 per cent, while the BPCL was down 3 per cent. The OMCs have finally announced price cuts in auto fuels (Rs 2/litre in retail price), following a series of cuts announced earl...
Oil & gas stocks index down 2 pc after petrol and diesel price cut
Oil & gas stocks index down 2 pc after petrol and diesel price cut
Source: IANS
2024-03-16 09:16:32 am
India defers $602 million plan to fill parts of strategic petroleum reserve India has deferred a 50-billion-rupee ($601.78 million) plan to fill parts of its strategic petroleum reserve, keeping in mind emerging trends in oil markets, the finance ministry said on Saturday. In the federal budget for 2023-24, the government had outlined a plan to purchase crude oil worth 50 billion rupees for caverns in the southern cities of Mangalore and Visakhapatnam. India, the world's third-biggest oil importer and consumer, imports over 80% of its oil needs and has buil...
India defers $602 million plan to fill parts of strategic petroleum reserve
India defers $602 million plan to fill parts of strategic petroleum reserve
Source: Reuters
2024-01-21 09:39:36 am
Government likely to cut petrol, diesel prices ahead of LS polls The government is likely reduce the petrol and diesel prices ahead of the Lok Sabha polls as crude oil prices have also come down in the international market which will enable the oil marketing companies to bear the burden. As per sources, the Ministry for Petroleum and Natural Gas has worked out various combinations and permutations on the price cuts ranging from Rs 4 to Rs 10 per litre in the two fuels and the impact it will have on the oil companies. The government is also looking at...
Government likely to cut petrol, diesel prices ahead of LS polls
Government likely to cut petrol, diesel prices ahead of LS polls
Source: IANS
2023-12-29 04:01:57 pm