Looks like Deepika will finally make her Hollywood debut!
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
The latest round of petrol and diesel price increase, on Thursday, met with opposition from many corners.
'Those who feared that I would have run one hell of a campaign targeting the most powerful people in India snatched away my democratic right from me.' 'I will expose these democracy-killers.'
One litre of petrol now costs Rs 64.76 while the diesel price is Rs 54.70 a litre in Delhi
Developed in-house, the 1.5-litre engine comes mated with six-speed transmission and offers improved performance.
Ford India said on Thursday it will launch the diesel variant of the mid-size Ford Fusion by the third quarter of this fiscal, even as it forecast demand for vehicles softening due to steep interest rates and possible revision in annual sales target.
Under interim measures, there will be no renewal of registration of diesel vehicles which are more than 10 years old.
The price of petrol is expected to come down to Rs 84.71 a litre and diesel to Rs 77.98
Normal or unbranded diesel currently attracts basic excise duty of Rs 1.46 a litre and an additional excise duty of Rs 2 per litre.
At one end the petrol motors have been criticised for consuming high fuel while on the other the diesel motors have also been condemned for being noisy and low powered.
The first diesel car from Maruti Suzuki, Celerio diesel is pitted against Hyundai Grand i10, Ford Figo and Chevrolet Beat.
The demand for diesel cars, which account for 58 per cent of passenger vehicle sales in India every month, has seen a steep rise, as manufacturers continue to introduce variants that have diesel engines.
With Brent crude oil prices dipping below $100 per barrel, petrol prices may be cut by Re 1 a litre and there is also a likelihood of first reduction in diesel rates in seven years.
This is perhaps the first time that retail prices in India are higher than the global rates
From the November 2014 price of $106 per barrel crude oil prices dipped to as low as $26 per barrel in January 2016 and remained flat for much of the year. Did the fuel prices reflect that?
If diesel subsidy can be confined to the running of public transport vehicles and agricultural pump sets, then it will stop benefiting private car owners and sundry other unintended recipients.
Jet fuel or ATF price on Tuesday was hiked by a steep 8.5 per cent - the second increase in a month, while commercial cooking gas rate was cut by Rs 100 per cylinder in line with divergent trends in international benchmarks. Aviation turbine fuel (ATF) price was increased by 7,728.38 per kilolitre, or 8.5 per cent, in the national capital to Rs 98,508.26 per kl, according to a price notification of state-owned fuel retailers. Rates, which vary from state to state depending on the incidence of local sales tax or VAT, have been increased on firming up of global rates that followed four months of decline.
Diesel price was on Monday hiked by 50 paise per litre, excluding VAT, with effect from midnight tonight.
The company powered its ecoDemonstrator 787 flight test airplane on December 2 with a blend of 15 per cent green diesel and 85 per cent petroleum jet fuel in the left engine.
With the losses incurred by oil marketing companies (OMC's) on selling regulated fuels below their market prices (under-recoveries) reaching alarming levels, an urgent corrective action, like hiking the price of diesel, has become imperative, says a Crisil study.
Petrol price is to go up by 30 paisa per litre, diesel by 18 paisa as government decides to hike petrol pump dealers commission.
At a time when diesel-powered vehicles have been driving sales in the country's otherwise sluggish automobile market, the industry has been hit by a double whammy.
Delhi's 24-hour average air quality index (AQI) stood at 248 on Saturday.
While the technology developed by the University of Exeter, with support from Shell, still faces many significant commercialisation challenges, the diesel, produced by special strains of E coli bacteria is almost identical to conventional diesel fuel.
Diesel price hike is a tough decision and we need lot of tough decisions to get to 8 per cent growth rate," Planning Commission Deputy Chairman Montek Singh told reporters.
Petrol and diesel prices were on Wednesday hiked by 24-25 paise per litre, the steepest increase since July 5 Union Budget, as a fallout of turmoil in global oil markets following drone attacks on Saudi Arabian crude oil facilities.
OMCs are currently incurring daily under-recovery of Rs 230 crore.
Diesel is 40 per cent cheaper than petrol and some of the diesel cars are 30 per cent more fuel efficient as compared to their petrol variant.
Amongst cars sold in the mid-size category (domestic sales) between April 2007 and March 2008, diesel variants outsold petrol car models roughly in the ratio of 7:3. That means over 70 per cent of the over 1,79,493 mid-size cars sold in the domestic markets were diesel models. Diesel mid-size cars on an average are priced 15.5 per cent more than the petrol variant. Overall, the mid-size category, petrol and diesel models included, grew by 14.6 per cent.
Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
Country's largest car maker Maruti Udyog Ltd today said it would come out with a diesel variant of one of its existing models by the end of next year equipped with engine from its diesel plant in Maneshar in Haryana.
The Finance Ministry on Thursday expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
Lower fuel subsidy payouts might restrict gross fiscal deficit in FY15.
This is the second hike in diesel price this month.
The government on Monday hiked special additional excise duty on crude petroleum to Rs 7,100 per tonne with effect from August 15. In the last fortnightly review, windfall tax on domestically produced crude oil was set at Rs 4,250 per tonne.
The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
Industry experts said the scandal could hit VW hard, just as it was emerging from a damaging leadership battle.
The ongoing Hamas-Israel conflict has disrupted India's efforts to gain from a recent fall in crude oil prices. Since Hamas' invasion of southern Israel on October 7, petroleum has become costlier by around $5 per barrel, threatening to stoke prices and impact growth. Brent crude was trading at $89.8 per barrel on October 9 (9.15 pm IST), up over 4 per cent, thwarting India's anticipation of a period of declining oil prices - after the leading global petroleum benchmark declined by around 11 per cent last week.
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