India slowly gets rid of subsidy on kerosene by gradual smaller price hikes

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The government of India has eliminated subsidy on poor man’s fuel, kerosene through small fortnightly price increases. Kerosene sold through the public distribution system (PDS) is now priced at market rates. The Union Budget for 2021-22 makes no provision for payment of subsidy on kerosene in the fiscal year beginning April, according to budget documents […]

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Successive hikes in taxes on petrol and diesel in 2020 increases India’s excise duty collection by 48%

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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 […]

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India’s domestic natural gas output falls by 13 per cent in April-September

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According to data available with state-sponsored Petroleum Planning and Analysis Cell (PPAC) India’s domestic natural gas production fell by 12.9 per cent year-on-year (y-o-y) to 13,939 million metric standard cubic metre (mmscm) in the first half of the fiscal. The fall was mainly attributed to operations becoming increasingly unviable for energy production companies with government […]

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Sale of diesel in India during August 2020 declined by 12% over July 2020: PPAC

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India’s consumption of diesel in August 2020 was 12 per cent lower than the levels recorded in July 2020, indicating a definite slowdown of economy as lockdown curbs in many areas has slowed industrial and commercial consumption. On a year-on-year basis, diesel consumption was down 20.7 per cent to 4.9 million tonnes in August. Diesel […]

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Less demand and low crude prices may cut India’s oil bill by 40% this year

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The severe demand squeeze due to the pandemic prompted lockdowns and low global crude prices has helped India in reducing its crude import bill. Declining consistently since April, India’s oil imports fell about 29 per cent (YoY) to around 13.44 million tonnes in June, the lowest since October 2011. In value terms, the June oil imports stood at $4.93 billion (Rs […]

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In India, storage of fuel is not a cause of concern yet, say oil executives

Demand for petrol and diesel is now at one-third because of the 21-day national lockdown leading to fast filling of product tankage facilities across the country despite production cuts. Oil executives, however, said any extension of the lockdown period — which ends on April 14 — will not be a cause for concern, reports Business Standard. Oil executives said […]

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India’s July 2019 petrol imports surges highest in 8 years

India’s petrol imports rose to 230,000 tonnes in July 2019, the highest in last eight years according to data from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC). However, July 2019 crude oil imports declined from a year earlier, while petrol imports climbed to their highest since at least April 2011. Crude oil imports into the world’s third-largest […]

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