Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
Targeting Modi over inflation, Priyanka called him a "mehengai" man.
No casualty or damage to property has been reported, they said and added that an inquiry has been ordered into the incident that took place between 7.25 am and 9 am.
Petrol price on Saturday breached the Rs 83 per litre-mark in Delhi for the first time in more than two years after a rally in international oil prices forced a 13th increase in rates in the last fortnight. Petrol price on Saturday was raised by 27 paise per litre and diesel by 25 paise, according to a price notification of oil marketing companies. Petrol price in Delhi rose to Rs 83.13 per litre from Rs 82.86. Diesel rates went up from Rs 73.07 to Rs 73.32 per litre.
If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
In the first reduction in rates in over a year, petrol price on Wednesday was cut by 18 paise per litre and diesel by 17 paise a litre as international oil prices tumbled to the lowest since early February.
'In April, we saw a 10 per cent growth in our own volumes.'
Total fuel subsidies accounted for less than 1 per cent of GDP and under 3 per cent of total government expenditures in FY14.
The satta market is accepting bets on how many times Modiji will mention Nehru at his election rallies, says A Ganesh Nadar with a wink.
The price differential between diesel and petrol has narrowed. But there are still enough reasons to opt for the diesel variant.
Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 6,854.25, or 5.79 per cent, in the national capital to Rs 111,344.92 per kl from Rs 118,199.17, according to a price notification of state-owned fuel retailers.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
Petrol pumps in many cities witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists.
The company, which unveiled its compact multi-purpose vehicle Triber in India, is bringing the MPV only in petrol engine option as part of the strategy even as it prepares to introduce electric vehicles in the near future.
The impact of the ban will not be limited to sales.
The Union government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record hike in excise duty on petrol and diesel that has pushed the total incidence of taxation on auto fuels to 70 per cent of the price. Late on Tuesday evening, the government hiked excise duty on petrol by Rs 10 per litre and that on diesel by Rs 13 a litre to mop up gains arising from international oil prices falling to a two-decade low.
Indian Oil Corporation Ltd will start manufacturing fuel used in F1 racing in three months' time.
With deregulation in diesel prices, this variant does not make sense.
Petrol and diesel prices on Thursday climbed to fresh highs in the country as rates were hiked by the most in recent times, even as fuel retailers said the government can cut taxes to ease consumer burden. Petrol and diesel price was hiked by 35 paise per litre each after a gap of a week, according to price notification of state-owned fuel retailers. The increase took petrol prices to a fresh high of Rs 86.65 a litre in Delhi and to Rs 93.20 in Mumbai.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
Oil marketing companies on Friday cut petrol price by 32 paise, and diesel by 85 paise a litre with effect from midnight tonight.
DRDO's failures over the decades have contributed significantly to India becoming the world's biggest weapons importer, points out Lieutenant General Prakash Katoch (retd).
The revision in rates announced by Indian Oil Corp is excluding VAT and the actual change will be higher after considering them
The conversion produces significantly more energy than it requires and results in transportation fuels -- diesel, for example -- that can be blended with existing ultra-low-sulphur diesels and bio-diesels, researchers said.
Honda has taken to diesel and come up with its completely new City sedan. Ranged against it is the new version of the erstwhile segment leader, Hyundai's Verna.
On January 17, when the government decided to allow state-owned oil companies to sell diesel at market price to bulk consumers, companies in the alternative energy space saw the opening of an opportunity.
Fuel rates were last revised on February 1 when petrol price was cut by a marginal 4 paise a litre.
Sitharaman said surcharges on individuals having taxable income of Rs 2 crore to Rs 5 crore; and Rs 5 crore and more have been raised.
But demand has shown signs of pick up in the last 10 days of April after the government allowed resumption of economic activity beyond the urban municipal limit.
Dealers say there's been a 20-25 per cent drop in demand.
Petrol price has been reduced four times since March.
Customers have started to factor in the narrowing gap between petrol and diesel and the premium that needs to be paid for a diesel vehicle.
Amid a shift in mobility trends and people increasingly opting for less polluting energy sources, sales of compressed natural gas (CNG) vehicles increased more than 82 per cent in the past five years. A total of 729,902 CNG vehicles were sold in 2022-23 against 400,825 in 2017-18, according to VAHAN Dashboard. Though the increase in sales of CNG-powered vehicles has been significant, their share in overall vehicle sales remains minuscule as is the case with EVs.
According to a report by rating and research agency CRISIL, it now takes six years to recover the premium-between Rs 100,000 on small cars and Rs 300,000 on luxury sedans-paid for diesel variants.
A truck driver from Kerala tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
The price of liquefied petroleum gas cylinders across all categories, including subsidised LPG, was on Wednesday hiked by Rs 25 per cylinder -- the third straight increase in rates in less than two months.
'Chinese are going bang, bang, bang building 30-35 reactors.' 'We should announce a programme of 50 new reactors and show that we mean business on the ground and not just announcements.'
About 2,000 petrol pumps, mostly in western and northern India, have run out of fuel stocks as the strike by some truckers' associations entered the second day on Tuesday.
A one rupee per litre cut in taxes would result in revenues being hit by Rs 30,000 crore on an annualised basis.
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