US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi's continued buying of Russian oil.
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.
A graphic showing how the average prices for petrol and diesel have moved over the last ten years.
After Indian Oil Corporation, state-run Bharat Petroleum Corporation is planning to take over petrol stations in Sri Lanka, company chairman and managing director S Behuria said on Friday.
The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.
Here is another sign that the economy is slowing. The growth rate of diesel and petrol consumption is down sharply, though it is still in the positive territory.Year-on-year growth in diesel consumption in December 2008 was down to a mere 1.5 per cent as against 10.7 per cent growth in December 2007. Consumption of petrol grew 5.5 per cent in the month compared with 9.5 per cent in December 2007.Preliminary data for January showed that diesel consumption grew only 2 per cent.
One litre of petrol now costs Rs 64.76 while the diesel price is Rs 54.70 a litre in Delhi
Petrol price was on Saturday cut by Rs 0.50 per litre but there will be no change in rates of diesel.
It all depends on many kilometres would you clock in a month.
India's ambitious programme to cut oil import dependence by mixing ethanol in petrol has reached the national capital, with Vice President Bhairon Singh Shekhawat formally launching the environment friendly fuel on Tuesday.
The share of diesel vehicles sold in 2014-15 was 37 per cent.
This is the second hike in diesel price this month.
This will be the sixth consecutive price cut for petrol since August.
Movement of prices in international oil market and rupee-USD exchange rate will be monitored
What's driving consumers to petrol cars? Ajay Modi finds out.
Cooking oil is often discarded after being used for frying at home or in restaurants. However, a refinery of IndianOil has now won a certification to use the same oil to produce sustainable aviation fuel (SAF), the company chairman Arvinder Singh Sahney said.
Billionaire Mukesh Ambani's Reliance Industries Ltd is estimated to have earned 724 million euros (about Rs 6,850 crore) from exporting fuel made from Russian crude oil to the US in one year, an European think tank said in a report. "From January 2024 to the end of January 2025, the US imported EUR 2.8 billion of refined oil from six refineries in India and Turkey that process Russian crude.
The government on Tuesday increased the windfall profit tax on crude oil produced in the country and reduced the levy on exports of diesel. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil was increased to Rs 9,800 per tonne from Rs 9,050 a tonne, according to an official notification. SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on jet fuel or ATF to nil from Rs 1, the notification said.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
India's consumer price index (CPI)-based retail inflation rate is likely to have cooled further in June, thus remaining below the 4 per cent target of the Reserve Bank of India (RBI) for a fifth consecutive month, giving the central bank wiggle room to focus on growth. Economists reckon that the decline is on account of easing prices in various categories of goods, especially food items, and a favourable base effect.
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.
India, the world's third largest oil importing and consuming nation, is likely to save as much as Rs 1.8 lakh crore on import of crude oil and LNG if the trend of softening international energy rates continues, Icra said Wednesday. India, which meets over 85 per cent of its crude oil needs through imports, spent $242.4 billion on buying crude from overseas in the fiscal year ended March 31, 2025.
The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned Oil and Natural Gas Corporation (ONGC) and exports of fuels done by companies like Reliance Industries Ltd.
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 iconic brand is considering petrol powertrains for its entire Indian portfolio, which includes the Jeep Compass, Meridian, Grand Cherokee and Wrangler.
The retail selling price of petrol at Delhi would come down by Rs 1.82 a litre.
'In the luxury car segment, the adoption of EVs is almost double compared to the mass market.'
Several carmakers, including car market leader Maruti Suzuki India pulled the plug on diesel models citing higher costs for BSVI variants leaving buyers with limited options.
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.
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.
Soaring fuel prices give birth to a jugaad system in Bihar's border towns abutting Nepal with residents smuggling in India-supplied cheaper petrol and diesel from the mountain kingdom.
From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
United States President Donald Trump has said India is 'very close' to China in terms of its purchases of Russian oil and will pay tariffs of 50 per cent as he indicated that 'you are going to see so much secondary sanctions'.
"India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump said in a social media post on Monday.
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.
This is the third increase in two months
Preventive measures are in place and the forecast suggests further improvement, said the statutory body responsible for forming air pollution reduction strategies for the region and their implementation.
"The UPA government showed its anti-people stance by increasing the prices of essential goods," said former AP chief minister Chandrababu Naidu.
Dominic Xavier offers his take on the Petrol and diesel prices which surged to highest levels in seven years on Tuesday.
There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances