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April 05, 2019 08:22 AM IST
A revenue neutral GST for petrol and diesel will be around 40-45 percent, which will not reduce pump prices. Will states agree to a lower GST rate on petrol and diesel, without being assured of other avenues to offset VAT loss on fuels?
March 19, 2019 02:23 PM IST
Fuel consumption in February totalled 17.41 million tonnes as compared to 16.77 million tonnes in the same month last year, data from the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry showed.
March 01, 2019 07:55 AM IST
Surging diesel consumption in India, the world's third-largest oil user, underscores the country's importance as a driver of global oil demand. Amid increasing concerns that crude demand growth may slip in 2019 because of slowing economic growth, India's burgeoning fuel consumption may help underpin oil and fuel prices.
February 18, 2019 04:30 PM IST
State Finance Minister Manpreet Singh Badal presented the state Budget for FY20 with a total outlay of Rs 1,58,493 crore with no new taxes.
January 11, 2019 02:26 PM IST
Petrol in Delhi now costs Rs 69.07 per litre - the highest this month - up from Rs 68.88 per litre rate of Thursday, according to price notification issued by state-owned oil firms.
January 02, 2019 03:47 PM IST
In October, India's finance ministry had cut its production tax on the two fuels by 1.50 rupees a litre and had asked state-owned fuel retailers to reduce their marketing margins by 1 rupee a litre to insulate consumers from a surge in global oil prices at the time.
January 01, 2019 02:40 PM IST
The price of Aviation Turbine Fuel (ATF) -- used to power airplanes -- was slashed by Rs 9,990 per kilolitre, or 14.7 percent, to Rs 58,060.97 per kl, according to price notification issued by state-owned oil firms.
December 31, 2018 08:07 PM IST
India saw oil consumption rise from 197.8 MT in 2015 to 217.1 MT in 2016 and 222.1 MT in 2017, he said.
December 26, 2018 02:16 PM IST
Uttaresh Venkateshwaran is in conversation with Moneycontrol's Swaraj Baggonkar to find out how Maruti Suzuki, one of India's most iconic carmakers, intends to refurbish its model range to stay ahead of the curve.
December 11, 2018 07:52 AM IST
There is a good economic explanation or fiscal explanation for why it is not easy. Because if you put petroleum products in to GST, naturally you will have a loss of revenues," Subramanian said at an interactive session at 'Mathan', a platform for thought leaders, here.
November 22, 2018 05:52 PM IST
The 180,00 barrels per day SAPREF refinery, South Africa's largest, is a 50:50 venture between Royal Dutch Shell and BPSA, a subsidiary of British oil major BP. The plant is located in the east coast city of Durban.
November 15, 2018 03:01 PM IST
When fuel prices started to rise on the back of a spurt in international oil rates and depreciation in rupee value against the US dollar in August, demand marginally dipped by 0.3 percent to 16.5 MT. In the following month, when petrol and diesel prices continued their upward trend, consumption rose by just 1 percent to 16.51 MT.
October 21, 2018 10:05 AM IST
Fuel prices have been declining since Thursday as oil companies factored in softening of international rates. In four days, petrol price has been cut by Rs 1.09 per litre and diesel by 50 paise
October 11, 2018 04:50 PM IST
While oil marketing companies will continue to enjoy marketing freedom, upstream oil producers like ONGC would not be asked to share fuel subsidy burden, he said.
October 09, 2018 03:27 PM IST
Also, the earning of public sector oil marketing companies (OMCs) would be "negatively affected" as they also absorbed Rs 1 per litre cut in their pricing, Moody's said.
October 08, 2018 06:51 PM IST
We believe the approaching November deadline for Iranian sanctions could provide some clarity over the global geopolitical moves and would be one point in the timeline to watch out for. Till then prices are expected to remain volatile and news flows could have significant impact on the prices in both directions
October 08, 2018 04:29 PM IST
When asked if his state would cut taxes on petrol and diesel, Tamil Nadu Chief Minister K Palaniswami highlighted the requirement of funds for various welfare measures.
October 08, 2018 03:42 PM IST
Speaking at The Energy Forum here, he said international oil prices touching a four-year high of USD 85 per barrel is a "challenge" that has resulted in fuel prices continuing to rise despite a one-off excise duty cut and public sector units (PSUs) subsidising fuel.
October 07, 2018 12:14 PM IST
Centre had on October 4 announced a Rs 2.5 per litre cut in petrol and diesel prices. Finance Minister Jaitley had also appealed state governments to cut sales tax or VAT on petrol and diesel by a similar amount
October 05, 2018 05:09 PM IST
The Congress earlier said that the rise in petrol and diesel prices were due to "excessive taxes" imposed by the central and state governments.
October 04, 2018 03:59 PM IST
The BMW X1 sDrive20i is locally produced at the company's plant in Chennai and can be ordered from BMW dealerships from Thursday onwards, the company said in a statement.
October 04, 2018 01:29 PM IST
The two ministers met last evening amid concerns of high fuel prices adding to farmers' distress, particularly in the upcoming Rabi crops season, sources said.
October 03, 2018 01:07 PM IST
PMK's founder leader Dr S Ramadoss will preside over the protest at Tindivanam and party president GK Mani will lead the stir here, a party release said.
October 02, 2018 08:16 AM IST
The prices of petrol and diesel in Chennai hit Rs 87.18 and Rs 79.57 per litre respectively after a rise of 13 paise and 17 paise respectively
September 30, 2018 10:03 AM IST
Petroleum Minister Dharmendra Pradhan said higher fuel prices are a matter of concern and that his government is finding ways to offer some relief to the public
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