The Budget assumes significance as it comes on the back of lower-than-expected growth numbers during the second quarter and geopolitical uncertainty.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
Investors shunned shares of oil marketing companies (OMCs) on Friday as they feared that the government's decision to cut retail prices of petrol and diesel could hurt the companies' profit margins in the near term. On Thursday, the government announced that OMCs will reduce pump prices of petrol and diesel after a record 22 months, making them cheaper by Rs 2 per litre in the national capital. The changes were effective from Friday.
Amid an outcry over record high petrol and diesel prices, Union Finance Minister Nirmala Sitharaman on Saturday said the Centre and state governments will have to together work out a mechanism to bring retail rates to reasonable levels.
Jet fuel prices on Wednesday were cut by 1.3 per cent -- the first reduction after 10 rounds of price hikes -- on softening international crude oil rates. Simultaneously, prices of commercial LPG - used by business establishments such as hotels and restaurants - were reduced by Rs 135 per 19-kg cylinder. The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- has been reduced by Rs 1,563.97 per kilolitre, or 1.27 per cent, to Rs 1,21,475.74 per kl (Rs 121 per litre) in the national capital, according to a price notification of state-owned fuel retailers.
Mark your calendar! On August 7, Tata Motors is unveiling a revolutionary vehicle -- the Curvv, billed as India's first SUV coupe.
From April 2020, manufacturers will have to hike prices of diesel cars sharply to accommodate the costs incurred in the transition to BS VI emission norms, and widening the gap between a diesel and petrol car.
Delhi's air quality plummeted to alarming levels on Tuesday after 24 days, with many areas witnessing a significant spike in pollution despite the strictest measures, including a ban on construction activities and the entry of trucks into the city, coming into force.
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.
The excise duty on unbranded petrol was increased from Rs 5.46 per litre to Rs 7.06 a litre.
Petrol pumps in Mumbai, Nagpur and other parts of the state witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers.
Here is a list of items set to become cheaper and costlier.
With diesel cars set to become costlier from next year with the implementation of stricter BS-VI emission norms, major automakers in India are contemplating about the future of such vehicles in their portfolios.
Bharatiya Janata Party on Monday said it will demand a division of votes on the cut motions to be moved in the Lok Sabha on Tuesday against increase in prices of petrol, diesel and fertiliser.
In four hikes over four days, petrol price has gone up by Rs 2.14 per litre and diesel by Rs 2.23.
Since May 1, the dynamic fuel pricing model has been applied on a pilot basis in 5 cities
The wide-ranging sanctions imposed by the US on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd (BPCL) saying not enough cargoes are available for March.
The diesel variants of the vehicle come with Smart Hybrid technology.
Around 23 per cent of all units sold by the company in the domestic market currently are diesel cars.
Pakistan was ready to buy petroleum products from India if these were offered at "right prices", the country's minister of Petroleum and Natural Resources Asim Hussain said.
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.
This will compete with Ford Ecosport petrol
'We will have multiple engine options -- electric vehicle and internal combustion engine in diesel and petrol.'
According to reports, the price of petrol is expected to go up by Rs 5 and diesel by Rs 6.
Low oil prices drove the growth in states' share faster than expected, says Abhishek Waghmare.
Petroleum Minister Murli Deora on Tuesday said petrol and diesel prices will not be increased "as of now" even as he began consultations with Finance Minister P Chidambaram on ways of mitigating the spurt in global oil prices.
You see the Thar is not just a Car.... It is The Thar.
Amidst a storm over proposal to shut petrol pumps during night to taper fuel demand, Oil Minister M Veerappa Moily on Monday said the government had not made any such proposal and the idea had come from public.
Indian Oil Corporation said on Friday it is losing Rs 10.55 per litre on sale of petrol and Rs 9.88 per litre on diesel due to a government freeze on increasing fuel prices.
22 images that captures glimpses of a most unusual Indian who led the nation for 10 years.
Despite the crash in crude oil prices, Indians still pay a high price for petrol.
Reliance Industries Ltd on Thursday reported a 7.4 per cent rise in its December quarter net profit, as its retail business rebounded and telecom earnings rose. Its consolidated net profit of Rs 18,540 crore, or Rs 13.70 per share, in October-December - the third quarter of April 2024 to March 2025 fiscal (FY25) - compared to Rs 17,265 crore, or Rs 12.76 a share, in the same period a year back, according to a stock exchange filing by the company.
The entire range of Hyundai's diesel cars - from compact ones to SUV models, including the soon-to-be-launched Aura - will be eco-friendly.
You suffered the pain of walking for miles. But the Modi-Yogi governments acted irresponsibly and turned their faces away and closed their eyes, despite the pain of the people: Sonia
The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.
More than a week after state-owned oil firms ended a 19-day pre-Karnataka poll hiatus on revising fuel prices, petrol and diesel rates have touched record highs.
The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
The thumb rule, say experts, is that if the monthly running is less than 1,800 km, a petrol model would prove cheaper in the long run.
This is the project to turn municipal and agri-waste into fuel sources like diesel, jet fuel, naptha and petroleum. It is called IH2.
The Rajya Sabha was adjourned twice while the opposition parties staged a walkout in Lok Sabha on Tuesday, voicing their protest against the increase in the prices of petrol, diesel and cooking gas LPG.
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