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Petrol

Petrol is a transparent, petroleum‑derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines. It is one of the main products, which is consumed heavily worldwide to fuel vehicles – the other is diesel. A derivative product of crude oil or petroleum, it is derived during the fractional distillation process. Although, its primary use is to fuel motor vehicles, it is not used for this purpose in its crude form. To use it as fuel for passenger vehicles, different additives are added to it like ethanol. Petrol price differs in every part of the world. A major driver of petrol prices is crude oil prices, which is one of the most important macroeconomic indicators for the world. In India, petrol prices differ from state to state depending on the incidence of local taxes such as value-added tax (VAT) and freight charges. Currently, the petrol price in the country has not changed for over 100 days – the longest freeze in the price since daily fuel price revision was adopted in June 2017 -- which comes during the assembly elections in states like Uttar Pradesh and Punjab. Prior to this, the second-longest pause of 82 days was between March 17, 2020, and June 6, 2020. More

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  • Petrol, diesel sales soar in May June 01, 2023 03:29 PM IST

    Petrol, diesel sales soar in May

    Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, soared 9.3 per cent to 7.46 million tonne in May compared to the year-ago period.

  • After Reliance-bp, Nayara Energy sells petrol, diesel at Re 1 less than PSUs May 30, 2023 12:27 PM IST

    After Reliance-bp, Nayara Energy sells petrol, diesel at Re 1 less than PSUs

    While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers.

  • Windfall tax on crude oil down to nil from Rs 4,100 per tonne May 16, 2023 06:53 AM IST

    Windfall tax on crude oil down to nil from Rs 4,100 per tonne

    Windfall tax, also referred to as the special additional excise duty, was already nil on aviation turbine fuel (ATF), petrol and diesel. The same has been left unchanged.

  • Proposal to ban diesel cars by 2027: What’s the need? Central Govt yet to accept the suggestion May 12, 2023 02:50 PM IST

    Proposal to ban diesel cars by 2027: What’s the need? Central Govt yet to accept the suggestion

    The Energy Transition Advisory Committee (ETAC), headed by former petroleum secretary Tarun Kapoor has submitted a report recommending that India should ban the use of diesel-powered four-wheelers by 2027 in cities with over 10 lakh population and switch to electric and gas-fuelled vehicles. But why? Watch to find out.

  • Fuel prices on May 11 : Petrol, diesel rates unchanged in major cities May 11, 2023 09:31 AM IST

    Fuel prices on May 11 : Petrol, diesel rates unchanged in major cities

    Petrol and diesel rates remained unchanged in major metro cities across the country.

  • Fuel prices on May 8: New Delhi, Chennai, and others May 08, 2023 10:01 AM IST

    Fuel prices on May 8: New Delhi, Chennai, and others

    Petrol rates and diesel rates have been steady over the last eleven months.

  • Fuel prices on May 6: Petrol and diesel prices remain unchanged across major cities May 06, 2023 07:35 AM IST

    Fuel prices on May 6: Petrol and diesel prices remain unchanged across major cities

    The prices of petrol and diesel have been steady over the last eleven months in all major metropolitan cities of India.

  • Fuel prices on May 4: Petrol and diesel prices remain unchanged across major cities May 04, 2023 09:15 AM IST

    Fuel prices on May 4: Petrol and diesel prices remain unchanged across major cities

    At present, petrol in Delhi is being sold at Rs 96.72 a liter while diesel is being sold at Rs 89.62 a litre

  • Piyush Goyal says India will achieve target of 20% ethanol-blended petrol by 2025; maize to play important role May 03, 2023 12:12 PM IST

    Piyush Goyal says India will achieve target of 20% ethanol-blended petrol by 2025; maize to play important role

    Addressing a national seminar on maize to ethanol, Goyal said ethanol is a "sunrise sector" and asked the industry to set up factories for manufacturing of this green fuel which can operate on dual feed stock (sugarcane and food grains).

  • Fuel prices on April 30: Petrol and diesel rates remain unchanged across major metros April 30, 2023 07:29 AM IST

    Fuel prices on April 30: Petrol and diesel rates remain unchanged across major metros

    The oil ministry expects crude oil prices to remain volatile going ahead on account of China's reopening and weak economic activity in the West,

  • Fuel Prices on April 22 : Petrol, diesel rates unchanged in metros; other cities see fluctuations April 22, 2023 08:07 AM IST

    Fuel Prices on April 22 : Petrol, diesel rates unchanged in metros; other cities see fluctuations

    Petrol is costliest in Andhra Pradesh at Rs 110.48 a litre and cheapest in Uttarakhand at Rs 95.28.

  • Fuel Prices on April 21: Petrol, diesel rates unchanged in metros; other cities see fluctuations April 21, 2023 10:25 AM IST

    Fuel Prices on April 21: Petrol, diesel rates unchanged in metros; other cities see fluctuations

    Petrol is costliest in Andhra Pradesh at Rs 111.76 a litre and cheapest in Andaman and Nicobar at Rs 84.10

  • McExplains: How your fuel prices are dictated by international crude oil prices? April 14, 2023 06:09 PM IST

    McExplains: How your fuel prices are dictated by international crude oil prices?

    India imports a majority of its crude oil requirements from Middle-Eastern countries, Saudi Arabia and Iraq. Now lately, Russia has joined the fray.

  • World oil demand to grow at 2.3 million barrels per day in 2023: OPEC April 13, 2023 09:37 PM IST

    World oil demand to grow at 2.3 million barrels per day in 2023: OPEC

    Oil demand in India for 2023 will be driven by air travel recovery, supported by healthy mobility and steady industrial activity, said Organisation of Petroleum Exporting Countries (OPEC).

  • Oil marketing companies may skid deep into red amid fears of crude hitting $100 a barrel April 14, 2023 07:25 AM IST

    Oil marketing companies may skid deep into red amid fears of crude hitting $100 a barrel

    Crude oil prices are at the breakeven price range of $85-$88 per barrel for India’s oil companies, which have less room to pass on the hike to end-consumers, according to analysts.

  • ONGC shares rise over 2% as Centre scraps windfall tax on crude production April 05, 2023 10:15 AM IST

    ONGC shares rise over 2% as Centre scraps windfall tax on crude production

    As of today, only diesel carries a windfall tax while crude oil, aviation turbine fuel and petrol are exempted from any such levies.

  • Sri Lanka slashes fuel prices in welcome relief amid crisis March 29, 2023 03:30 PM IST

    Sri Lanka slashes fuel prices in welcome relief amid crisis

    Minister of Power and Energy Kanchana Wijesekara told reporters different categories of petrol and diesel will be sold at prices from 8% to 26% lower starting Wednesday midnight.

  • Fuel Prices today: Check petrol, diesel rates in Delhi, Mumbai and other cities March 22, 2023 10:36 AM IST

    Fuel Prices today: Check petrol, diesel rates in Delhi, Mumbai and other cities

    Petrol and diesel are priced at Rs 102.63 and Rs 94.24 in Chennai and at Rs 106.03 and Rs 92.76 in Kolkata, respectively.

  • Honda’s new SUV likely to be positioned in C segment March 21, 2023 11:13 AM IST

    Honda’s new SUV likely to be positioned in C segment

    Honda Cars is in the middle of restructuring its entire model lineup wherein some models will be discontinued and some reintroduced. It has already announced that it will stop selling the fourth-generation City mid-size sedan, WR-V crossover and Jazz premium hatchback from the end of this month.

  • Fuel Prices on March 21: Check petrol, diesel rates in Delhi, Mumbai and other cities March 21, 2023 10:00 AM IST

    Fuel Prices on March 21: Check petrol, diesel rates in Delhi, Mumbai and other cities

    The Centre reduced windfall gains tax on domestic production of crude petroleum to Rs 3,500 per tonne from Rs 4400 per tonne, it said late on March 20.

  • Centre reduced excise duty on petrol, diesel to provide relief to consumers: Puri March 14, 2023 07:32 PM IST

    Centre reduced excise duty on petrol, diesel to provide relief to consumers: Puri

    The Oil Minister Hardeep Singh Puri said OMCs did not pass on the high fuel costs to consumers.

  • This Punjab petrol pump is viral for its AP Dhillon link. Watch March 14, 2023 09:47 AM IST

    This Punjab petrol pump is viral for its AP Dhillon link. Watch

    Known for his Punjabi rap songs, AP Dhillon is massively popular in the state, especially among the youth.

  • Oil marketing firms see a profit as domestic prices freeze, global rates soften March 04, 2023 10:25 AM IST

    Oil marketing firms see a profit as domestic prices freeze, global rates soften

    According to the brokerage, businesses have so far lost Rs 1.2 per litre on the sale of fuel during the current quarter. Nonetheless, the brokerage claims that a profit of Rs 6.8 per litre on petrol has made the combined margin for the two fuels positive.

  • Petrol, diesel sales surge in February after winter lull March 01, 2023 01:11 PM IST

    Petrol, diesel sales surge in February after winter lull

    Petrol sales of state-owned fuel retailers jumped 12 per cent to 2.57 million tonne in February, as compared to 2.29 million tonne of consumption in the same period of last year.

  • Pumps in Pakistan's Punjab region run out of petrol, disrupts normal life February 10, 2023 02:23 PM IST

    Pumps in Pakistan's Punjab region run out of petrol, disrupts normal life

    In spite of assurances that there is an adequate supply of gasoline and government threats to clamp down on hoarders, there is still a shortage of gasoline in Punjab.