Fuel

Nitin Gadkari says he will double the speed of building roads and highways in India. Exclusive on impact of tariffs, Bihar elections, GST rationalisation and more.

Karnataka: Diesel price to increase as state government hikes sales tax

The tax rate will rise to 21.17 percent from April 1, increasing the price by Rs 2 to Rs 91.02

The organic route to energy security

Ethanol blended petrol in India is here to stay, with the proportion of ethanol reaching 14.6 percent in 2023-24. Government estimates that a decade of ethanol blended petrol has resulted in a savings of over Rs 1 lakh crore. The initial results show that doubling down on biofuels will not only lower energy import dependence but also help the country meet its climate obligations 

MRPL issues expression of interest to sell jet fuel term supplies

The state-owned refiner is looking to sell at least one 40,000-60,000 ton cargo per month from September to February, the sources said, adding that the buyer would have to offload the cargo between the 1st and 28th of each month.

IndianOil launches high-speed car racing fuel STORM-X

The firm's refinery at Paradip in Odisha has started producing STORM-X - a high-octane petrol specifically formulated for racing cars, the firm said in a statement.

Amid limited revenue options, states may resist fuel inclusion in GST

Jet fuel and natural gas are more likely to be included under GST than petrol and diesel, given their minimal revenue impact on states.

Fuel inclusion under GST not on agenda for June 22 Council meet: Official

There have been repeated calls to bring fuel under GST’s scope to create uniform pricing of key energy commodities, but several states have opposed the move earlier, citing the potential risk of losing hefty revenues that they derive from the fuel tax.

Karnataka: Petrol, diesel prices rise by Rs 3 as state government increases sales tax on fuel

In Bengaluru, price of petrol has increased to Rs 102.86 per litre, while diesel is now Rs 88.94 per litre after the revision on June 15.

India's April fuel use rises 6.1% year-on-year

India's fuel consumption, a proxy for oil demand, rose by 6.1% year-on-year to 19.858 million metric tons in April, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Tuesday.

India's fuel demand hits new FY record, up about 5%

Total consumption, a proxy for oil demand, totalled 21.09 million metric tons (4.99 million barrels per day) in March, down from 21.22 million tons (5.02 mbpd) last year, preliminary data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Saturday.

How India can move towards dynamic fuel pricing: A global perspective

India's journey towards integrating its fuel prices with global market dynamics involves navigating economic, infrastructural, and socio-political landscapes. While the managed pricing regime has its merits, evolving towards a market-driven model could enhance efficiency and global economic alignment. Integrating with GST framework is key 

E-commerce firms breathe a sigh of relief as truck drivers call off strike

Even as strike was called off, several industry stakeholders feared that going back to normal would take time since these strikes, across regions had already resulted in supply chain disruptions in the e-commerce industry.

OMCs hike ethanol procurement prices by Rs 6.87/litre: Oil ministry

The latest price hike takes the price to Rs 56.28 per litre, higher than the previous season's Rs 49.41 per litre announced last year.

Saudi Arabia, China And Russia: The fateful triangle that decides the future of oil prices

The slowdown in China and the clouds of recession over the global economy are pushing Putin and the Saudi crown prince together

Can easing bond yields, oil prices impress Dalal Street? | Market Minutes

In this episode of Market Minutes, Lovisha Darad discusses if moderating bond yields and cooling oil prices can support rally for domestic equities on November 8. Dalal Street will continue to react to a slew of July-September quarter results. Companies like Tata Power, Oil India, and Lupin are set to report Q2 scorecard on Wednesday. Also, catch Mukesh Kochar of AUM Capital on Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, key data points, and developing trends.

Festive relief on fuel prices unlikely as oil simmers amid conflict

Reversing last week’s downward trend, oil prices jumped more than 4 percent on October 9 on fears that clashes between Israel and Hamas could spread beyond Gaza. But crude prices had already been hovering at over $90 per barrel for the last few months, with Saudi Arabia and Russia extending cuts and stoking concerns over tight supply.

India's September fuel demand rises 7.6% year on year

That compares with 18.57 million tons reported in the previous month.

Diesel sales fall in September, petrol consumption up

While diesel sales by three state-owned fuel retailers fell year-on-year in the first half of September, petrol sales were up marginally.

Hydrogen is futuristic fuel; MP will become leading state in production: Nitin Gadkari

The Minister of Road Transport & Highways also said farmers would not just remain “annadatas” (food grain producers) but would become “urjadatas” (energy producers) in a big way.

Even in the age of Tesla, European gasoline demand is booming

Consumer behavior shows a collision of old and new trends that may keep fuel consumption surging for a while

Ather Energy ties up with BPCL to expand charging infrastructure

Through the collaboration, Ather will gain access to BPCL’s network of over 21,000 fuel stations across the country, facilitating the installation of Ather’s public fast-charging grid.

Sri Lanka to slap maximum retail price for fuel

The move of the Sri Lankan government comes ahead of a top Chinese energy company is set to enter the retail fuel market of the island nation of the first time in August.

Oil companies to turn profitable on fuel marketing in FY24: Fitch

The rating agency expects India’s petroleum product demand to grow by mid-single digit percentage in the medium term, supported by forecast that the GDP will grow by 6-7 per cent in the next few years, the government’s increasing spending on infrastructure and a pick-up in industrial activity.

China’s gas deals with Qatar are powering it as a swing trader

The deals with Qatar, coupled with overland pipelines, are giving China considerable power over a vital transition fuel—natural gas

Fuel, jewellery, grocery top 3 preferred items for people offloading Rs 2,000 notes: Survey

In about two weeks, almost half of the Rs 2,000 currency notes in circulation, worth around Rs 1.8 lakh crore, came back to the banking system, the RBI informed recently.