They said refiners should prepare for a future in which petrol, their biggest source of revenue, will be much less of a cash cow.
It has been three years since the NDA-led government came to power. It is time to take stock. The government deserves credit for taming runaway lentil prices, but stands guilty of denying cheaper petrol and diesel to millions of consumers.
From changes in way one pay's taxes to ban of red beacons, a lot of new rules will be implemented from May 1.
Petrol and diesel prices will be revised on a daily basis from today in select towns in sync with international rates, much like it happens in most advanced markets.
The hike, which will be effective from today, comes on the back of Rs 1.39 per litre increase in petrol and Rs 1.04 a litre raise in diesel rates effected from April 16.
The limited edition, Polo GT Sport will be available across both petrol and diesel variants of Polo GT, Volkswagen Groups Sales India said in a statement.
About 350 million people come to fuel stations every day, it said. Annually 25 billion rupees (USD 387.00 million) worth of transactions takes place at fuel stations.
The six petrol variants are priced between Rs 5.38 lakh and Rs 7.51 lakh while the five diesel trims are tagged between Rs 6.28 lakh and Rs 8.41 lakh.
Petrol and diesel prices are soon going to be revised every day, in sync with international market rates.
State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), which own over 95 per cent of nearly 58,000 petrol pumps in the country, will launch a pilot for daily price revision in five select cities from May 1 and gradually extend it to all over the country.
"All 156 petrol pumps in Patna will be shut from 6 am to 6 pm today to protest against the lack of security, growing vandalism and loot," Patna Petroleum Dealers Association (PPDA) president Bijendra Kumar Sinha said.
The Consortium of Indian Petroleum Dealers has threatened to close fuel pumps on Sundays if their demand for an increase in dealer’s commission is not fulfilled by the central government.
Consumption of fuel, a proxy for oil demand, totalled 17.36 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
State-owned and India's biggest oil marketing company Indian Oil Corp Ltd and its two smaller peers Bharat Petroleum and Hindustan Petroleum are considering ways to roll out the plan to review petrol and diesel prices daily, executives from the firms told the daily.
The current trend in India is to change fuel rates every fortnight. A shift to daily change would mean that prices don't drop or rise sharply, as prices may only change by a few paise everyday and will not lead to shock to customers.
The petrol variants of the car are priced between Rs 5.36 lakh and Rs 9.09 lakh while the diesel trims are tagged between Rs 6.66 lakh and Rs 8.51 lakh.
The company, which is marking 10 years of operations in India this year, is also looking to double its overall sales of 60,000 units that it has achieved in the last decade at a much faster pace.
The Connoisseur's Edition is available in both S 350d and S 400 variants priced at Rs 1.21 crore and Rs 1.32 crore, respectively (ex-showroom, Pune), Mercedes-Benz India said in a statement. While the S 350d is powered by a 3-litre V6 diesel engine, the S 400 has a 3-litre V6 petrol engine.f
S N Barman, Vice President Sales, of the company said that the company has ensured that the vehicle reaches to customers without any waiting period.
The meeting of Monetary Policy Committee scheduled on April 5 and 6 will be closely watched by the Street. Majority expect status quo this time despite encouraging retail inflation data.
The MoU was signed between senior officials of the two companies in the presence of TSRTC Managing Director G V Ramana Rao at Bus Bhavan here, an official release said.
The Tigor is available in eight variants stretching across petrol and diesel engines with the top-end petrol variant costing Rs 6.19 lakh and the top-end diesel variant costing Rs 7.09 lakh (ex-showroom, Delhi). The sedan comes in six colours.