The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
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.
The demand for diesel is rising at 25 per cent annually, while the crude oil refiners are capable of catering to only 12-15 per cent growth.
The demand for buses largely remained robust in 2023, driven by the increasing need for public mobility and replacement. Ashok Leyland Limited (ALL) recorded a 64 per cent year-on-year increase in sales of medium and heavy commercial vehicle (MHCV) buses during the April-to-December period of 2023 to 11,216 units. Volvo Eicher Commercial Vehicles (VECV) posted 24.7 per cent sales growth between April and December for light and medium-duty buses, and 36.9 per cent growth for heavy-duty buses.
After today's reduction, petrol price has been cut by Rs 12.27 per litre cumulatively since August.
Under-recovery or the gap between retail selling price and the cost of import, this month dipped to an all-time low of 8 paise a litre, helped by the monthly increases and softening in international oil rates.
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This is Union Health Minister Mansukh Mandaviya's maiden Lok Sabha election, but political experts and voters feel he can easily win Porbandar seat in his home state Gujarat, despite the electorate facing some key issues like unemployment.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
A graphic showing how the average prices for petrol and diesel have moved over the last ten years.
Movement of prices in international oil market and rupee-USD exchange rate will be monitored
The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
Honda Motors has developed its own diesel power-trains.
One of the challenges on diesel engine is refinement.
Move to be aimed at reducing subsidies on the fuel.
Toyota Kirloskar Motors Limited has launched the diesel version of Toyota Corolla Altis in the country recently.
The best way to really take in the English countryside is to go narrowboating.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
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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.
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It all depends on many kilometres would you clock in a month.
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 government on Monday said it would not free diesel prices from its control in hurry as the move would lead to sharp rise in price of fuel most used in the transport sector.
The government had in June deregulated the prices of petrol but did not take a decision on diesel, which is used by various industries and the transport sector.
Pitting itself directly against Maruti Swift Diesel, Tata Motors plans to launch a 1.3 litre diesel variant of its small car Indica with a common rail direct injection (CRDi) engine developed in-house in the next few months.
Allies and opposition parties tonight attacked the government over the hike in diesel prices saying it will further hit the common man and demanded an immediate rollback.
This will be the sixth consecutive price cut for petrol since August.
They definitely need a ramp of their own.
India Inc has said the decision to hike in diesel price was "inevitable" and this would help in fiscal consolidation.
Petrol and diesel prices across the country will increase by 9-13 paise a litre with effect from Tuesday midnight, after the government decided to increase the commission to petrol pump dealers.
The auto industry, however, said any such step to impose additional taxes on the sector will not 'make sense'.
State-owned oil companies have virtually stopped producing premium or branded petrol and diesel as sales have plunged due to huge differential in rates when compared with non-branded or ordinary fuel.
If you opt for a petrol variant, you will need to reapply for loan.
Public sector oil marketing companies currently lose Rs 11.65 per litre on diesel.
Hyundai Motors India, the country's second-largest car firm, launched the diesel version of its top-end sedan Sonata Embera tagged at an introductory price of Rs 14.75 lakh (ex-showroom Delhi).
'If petro products are brought into GST, then there will be minor impact on the incidence of tax... and minor impact on prices. The price of petrol, diesel will continue to be driven by global factors'
The government had in January authorised state-owned oil firms to hike diesel prices by small doses of up to 50 paisa per litre every month.
