Consumption of petroleum products fell to 17 million tonnes last month in April 2021, the lowest recorded since September, 2020. The re-imposition of lockdown curbs with the second wave of the coronavirus in many areas has slowed industrial and commercial consumption. India’s fuel demand slumped by 9.4 per cent in April when compared to the […]
After a brief lull of around a fortnight, prices of petrol and diesel were hiked for the third consecutive day. Petrol in Delhi now costs Rs 90.99 per litre, an increase of 25 paise since the previous day. Diesel price was increased by 30 paise to Rs 81.42 per litre. Prices were first hiked earlier this week […]
India has been reporting record high numbers of new daily COVID-19 cases. Mumbai, the largest city has been put on lockdown, potentially threatening fuel demand and crude oil imports in the world’s third-largest oil importer. The new strict measures in India’s financial center and most populous city are now set to further impact oil consumption and […]
India’s Finance Minister Nirmala Sitharaman said she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council, following a huge outcry on high taxes on motor fuel. Less than a week ago she had ruled out […]
India’s tax collections on petrol and diesel have jumped over 300 per cent in the last six years as excise duty on the two fuels was hiked, the Lok Sabha was informed. The collections on petrol and diesel rose to Rs 2.94 lakh crore in the first 10 months of the current fiscal (2020-21), according […]
Despite record-high fuel prices, India’s Finance Minister Nirmala Sitharaman said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST). “At present, there is no proposal to bring crude petroleum, petrol, diesel, ATF and natural gas under GST,” Sitharaman […]
Price of domestic cooking gas, LPG has doubled to Rs 819 per cylinder in the last seven years while the increase in taxes on petrol and diesel has fattened collections by over 459 per cent, Oil Minister Dharmendra Pradhan said in Parliament. In written replies to a spate of questions on rising fuel prices in […]
India’s finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices. A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at gas stations in India. Retail prices of petrol and diesel are hovering near Rs […]
India’s fuel consumption is likely to rise by nearly 10 per cent in the fiscal year beginning April 1, as a reflating economy drives petrol and diesel demand, according to Oil Ministry’s projections. Petroleum product consumption in 2021-22 could hit 215.24 million tonnes, compared to the revised estimate of 195.94 million tonnes consumption of the […]
The new LNG policy draft has recommended liquefied natural gas (LNG) as the fuel of the future for heavy transport as well. The policy targets to convert 10 per cent of long haul heavy duty trucks to ply on LNG. The timeline to achieve the target, however, has not been specified in the draft document. […]
