A surge in international oil prices may translate into an increase in the retail selling price of petrol and diesel in India as oil companies face extreme margin squeeze, sources said. Petrol and diesel prices have remained unchanged for 12 days but now the international rate surge is exerting pressure. Current prices of petrol and […]
India’s state-run oil marketing companies (OMCs) – Indian Oil, Bharat Petroleum, Oil India, and HPCL – were prompt in raising retail prices of petrol and diesel since early May this year to “match the rise in global crude rates”, they have been less than forthcoming to the softening of crude oil since mid-July. The base […]
Domestic cooking gas LPG price has been increased by Rs 25 per cylinder – the second straight month of increase in rates. Subsidised LPG now costs Rs 859 per 14.2-kg cylinder in Delhi, according to a price notification of oil companies. This is the second straight month of a price increase. Rates were hiked by […]
Presenting his maiden budget to the state assembly, Tamil Nadu finance minister Palanivel Thiaga Rajan, said the government has decided to cut tax on petrol by Rs 3 per litre. “I am happy to inform the house that this government has decided to reduce the effective rate of tax on petrol by Rs 3 per […]
In an effort to check the rising prices and boost the domestic supply of lentils, the central government has reduced the import duty on masur dal to zero and also halved the Agriculture Infrastructure Development Cess on the lentil to 10 per cent. A notification for the same was tabled in both houses of the […]
The country’s crude oil import bill has increased 190.6% year-on-year to $24.7 billion in Q1FY22 with rising prices of the commodity in the international market and higher procurement volumes with demand for auto fuels increasing. The volume of crude oil imported in the quarter, at 51 million tonne, was 14.7% higher than the same period […]
Union Minister Nitin Gadkari on Thursday said excise duty collected from petroleum products are being used for infrastructure development and other development items. The road transport and highways minister said this in the Lok Sabha while replying to a question on the impact of rising fuel prices on the logistics cost of transportation in the […]
On Friday, 16 July, crude oil prices headed for their biggest weekly drop since May this year as expectations of more supplies spooked investors. In India, however, the price of petrol and diesel touched record highs. Mumbai’s petrol cost is the highest across metro cities, standing at a staggering Rs 107.54 per litre. Diesel in the […]
The Chamber of Trade and Industry (CTI) has asked the government to bring petrol and diesel under the ambit of GST to bring down the fuel rates. Petrol rates have exceeded Rs 100 a litre in many parts of the country, with diesel prices also coming close to Rs 100 a litre mark. It also […]
India’s fuel demand rebounded in June after slumping to a nine-month low in the previous month as restrictions to curb the spread of the pandemic were eased, helping economic activity and mobility to pick up. Fuel consumption rose 1.5 per cent to 16.33 million tonnes in June from a year earlier and by 8 per […]
