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. […]
The Centre will earn Rs 1.87 lakh crore in FY21 from the Rs 13-16/litre additional cess and surcharges imposed on auto fuels in March 2020 and later in the month of May of the same year. Going by the projection of 8% rise in fuel demand in FY22, the Centre’s incremental income from the two […]
While India’s finance minister, Nirmala Sitharaman said in heer budget speech that the imposition of the agriculture infrastructure and development cess on petrol and diesel will not bear any additional burden to the consumers, the public is wary and watchful. Retail price of auto fuels have already reached record highs, as global crude prices have inched higher on […]
The Rajasthan government has reduced value-added tax (VAT) rate by two per cent on petrol and diesel, giving people the much-needed respite from rising fuel prices. The state finance department issued orders which came into effect from Thursday midnight. Chief Minister Ashok Gehlot said that despite the price of crude oil being at the lowest […]
While the pandemic stifled tax collections across the country, India’s excise duty mop-up jumped by 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel. It more than made up for the below-normal fuel sales during the lockdowns. Excise duty collection during April-November 2020, was […]
The Organization for Economic Development (OECD) predicts that while global GDP should rise by around 4.25 per cent by the end of 2021, national bounce-back could be uneven. In its December Economic Outlook, the OECD observes that it is the countries with effective track and trace systems and rapid deployment of vaccines which will perform […]
India’s fuel demand rose for the fourth straight month in December 2020, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning […]
India’s fuel demand rose for the fourth straight month in December 2020 as the resumption of economic activity took consumption to 11-month high, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, […]
Petrol prices in Delhi touched an all-time high of Rs 84.2 per litre after rising by 23 paise today. Earlier, the petrol price had touched an all-time high of Rs 84 on October 4, 2018, in Delhi. Diesel prices, today, were also raised by 26 paise a litre, taking the price to Rs 74.38 a litre. While […]
Despite disruptions in commercial activities due to the COVID-19 crisis, sales of motor spirit and diesel have increased during 2020, which indicates a revival of the economy, Indian Oil Corporation (IOC) said last week. During 2020, sales of motor spirit have increased by 108 per cent and diesel by 96 per cent over the previous year, […]
