Generally, there is a price difference of around Rs 100,000 between petrol and diesel cars.
Maruti Suzuki India has hiked prices of its diesel cars by up to Rs 10,000 with effect from Monday on account of higher input costs and appreciation of Japanese yen.
DaimlerChrysler India, which has a jatropha bio-diesel programme in place, said it would test its cars using the alternate fuel in Leh and other regions of the Himalayas.
After a spike, losses on sale of diesel have fallen by nearly a rupee to Rs 2.49 per litre as international oil rates have moderated.
Diesel likely to get cheaper in New Delhi
Almost one and a half year after tying up with Reliance Brands, a unit of Mukesh Ambani's Reliance Industries, Diesel opened its first store in Mumbai in April this year.
With the latest diesel price rise, coming after a rollback of most of the earlier proposals for a passenger fare increase, Indian Railways' operational surplus is expected to come down by 24 per cent, to Rs 11,707 crore (Rs 117.07 billion) in 2012-13 as against the Rs 15,557 crore (Rs 155.57 billion) anticipated at the beginning of the financial year.
The fire broke out in an area near the Visakhapatnam Container Terminal and an Indian Oil Corporation facility where fishing boats were anchored.
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
IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely
Petrol price had been cut 10 times since August 2014.
The movement of prices in the international oil market and rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes
The Union oil ministry is considering a proposal to adopt differential pricing for diesel, under which industrial users like power utilities, will be charged market prices and retail consumers continue to be subsidised.
This car is touted to be Chevrolet's next big thing in India.
The Supreme Court on Tuesday upheld a December ruling that temporarily banned the sale of large diesel cars in New Delhi to combat toxic smog in India's capital.
Giving a quiet burial to the decision to dismantle Administered Pricing Mechanism for petroleum products, the government on Thursday said it will control the pricing of sensitive products like LPG, kerosene and diesel.
The government is preparing a national hydrogen road map and will launch a national mission on bio-diesel next month as part of efforts to encourage use of alternate fuels, the Lok Sabha was informed on Tuesday.
Petrol now costs Rs 59.99 per litre as against Rs 59.03 a litre previously.
In 2010, the govt had taken an "in-principle" decision to deregulate diesel prices, but could not implement it due to political pressure.
Finance ministry officials said the issue had been raised several times before, but this time it was serious in the wake of huge differential between the two fuel options.
A top oil ministry official said it will be "suicidal" to even think of raising prices of diesel, LPG or kerosene just before Parliament is to meet.
Although diesel vehicles currently account for 30 per cent of the 1.2 million sold in India, the share is expected to climb to 45 per cent of the projected 2 million market by 2010.
After a spike in crude oil and gas prices in October following the Hamas terror attack, prices eased down 9 per cent month-on-month in November. The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices. The best guess here is that crude prices (currently at $75/barrel, or bbl) will not likely cross significantly above $80, and gas prices are also likely to remain subdued unless there's a further escalation in the Israel-Hamas conflict.
Petrol price may be reduced by about Re 1 per litre while diesel price may be hiked by 40-50 paisa a litre from March 15/16.
