India’s diesel export falls by 11%, petrol by 4.5% in July 2022 on levy of windfall profit tax

India’s diesel exports fell by 11 per cent in July and overseas shipment of petrol dropped by 4.5 per cent after the government slapped a windfall profit tax on such sales, official data showed. Diesel exports dropped to 2.18 million tonnes in July from 2.45 million tonnes a month back, data from the Oil Ministry’s Petroleum Planning and Analysis Cell (PPAC) showed. […]

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Rising CNG prices put spanner in the vehicles segment growth: Motilal Oswal report

Rising prices of compressed natural gas (CNG) are likely to dent the sales of CNG-powered vehicles. Moreover, these vehicles could face competition from their electric counterparts. According to a Motilal Oswal report, the Indraprastha Gas management has admitted that the introduction of electric vehicles can slash the demand for CNG vehicles long-term. Delhi-based Indraprastha Gas is making plans […]

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IOC, HPCL, BPCL post Rs 18,480 crore loss in Q1 on restrained fuel prices

State-owned Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) posted a combined loss of Rs 18,480 crore on holding petrol and diesel prices despite a rise in cost. According to stock exchange filings by the three fuel retailers, the losses were due to erosion in the marketing margin on petrol, diesel and […]

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