Compact sedans (Maruti Dzire, Hyundai Aura, Tata Tigor)' share in the overall sedan category grew from 68% in 2021 to 74.6% in 2024. Mid-sedans' (Honda City, Maruti Ciaz, Volkswagen Virtus) share declined from 26.2% in 2021 to 20.2%.
promises a mileage of 24.2 kmpl.
Quibbling between the Centre and the states on who should provide more relief to consumers on fuel prices intensified with the latter asking the Union Government to give an account of accruals to it from the latest hike in petrol and diesel prices.
Petrol and diesel prices on Wednesday were hiked by 25 paise per litre each, the third increase this week, propelling petrol price to cross Rs 100 per litre mark in more cities including Bhopal and Indore. Petrol and diesel prices are now at record high across the country, price notification of state-owned fuel retailers showed. In Delhi, petrol now comes for Rs 92.05 per litre and diesel is priced at Rs 82.61. This was the third increase in prices this week and seventh hike since May 4 when the state-owned oil firms ended an 18-hiatus in rate revision they observed during assembly elections in states like West Bengal.
Several members had moved adjournment motions to raise the issue, but Speaker Meira Kumar said she has not accepted the demand.
The government on Monday ruled out any immediate increase in petrol and diesel prices despite a spurt in international crude oil prices.
'We will have multiple engine options -- electric vehicle and internal combustion engine in diesel and petrol.'
Petrol and diesel prices are unlikely to be hiked in the near future, with Finance Minister P Chidambaram agreeing in-principle to share a third of the revenue loss that state-run oil firms incur on sale of fuel
Projecting a moderation in inflation despite the hike in petrol and diesel prices, the Economic Survey on Thursday cautioned against the pressures from rising foreign funds and global commodity price movement.
The drop in international oil prices has resulted in revenue loss of Indian Oil, Bharat Petroleum and Hindustan Petroleum dip to Rs 400 crore per day from Rs 450 crore (Rs 4.5 billion) a fortnight back. The basket of crude oil India buys averaged $111.09 a barrel in the second fortnight of August as compared with $117.37 per barrel in the first fortnight of the month.
Petrol price cut by Rs 1.15 per litre while diesel rate hiked by Rs 0.50 a litre with effect from midnight on Thursday.
The EGoM was originally scheduled to meet on Wednesday but has been deferred because of non-availability of certain ministers in the grouping.
Petrol and diesel prices may be hiked by up to Re 1 per litre each on August 15, the next due date for fuel price revision, in step with the surge in global oil prices.
Dealers say there's been a 20-25 per cent drop in demand.
Diesel prices have cumulatively risen by Rs 10.68 a litre in 17 instalments since January 2013 when the United Progressive Alliance government had decided on the monthly hikes.
The rising rupee over the last three months has brought cheer to the oil marketing companies, who have together added around Rs 250-300 crore (Rs 2.5-3 billion) to their operating profits already.
Amid record-high fuel prices, Finance Minister Nirmala Sitharaman on Monday said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST). When the GST was introduced on July 1, 2017, amalgamating over a dozen central and state levies, five commodities - crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) - were kept out of its purview given the revenue dependence of the central and state governments on this sector. This meant that the central government continued to levy excise duty on them while state governments charged VAT. These taxes, with excise duty, in particular, have been raised periodically.
In a statement issued in Mumbai, Athawale, a Bharatiya Janata Party ally and the Union Minister of State for Social Justice, said that he understands people are getting affected by the rising fuel prices.
A hike in the prices of petrol and diesel is unlikely before June 15 as the Congress-led government does not want a showdown with its allies in the first session of Parliament beginning June 2.
If popular is white and populism black, then Mamata Banerjee is a curious shade of grey that may be hard to spot in the colour charts.
In 12 hikes, petrol price has gone up by Rs 6.55 per litre and diesel by Rs 7.04 a litre.
Petrol and diesel sales in the country fell in July over the previous month as the onset of monsoon chipped away demand in some sectors and restricted mobility, preliminary industry data showed. Diesel, the most widely used fuel in the country, saw consumption drop 13.1 per cent to 6.44 million tonnes from 7.39 million tonnes of demand in June. The arrival and intensity of monsoon weigh heavily on diesel demand in the country and consumption traditionally is lower in July-September than in April-June.
Financial services majors Citi and HSBC said the long awaited government decision to hike fuel prices is a positive step, although it will fan the already high inflation and may not prevent fiscal slippage.
Petrol and diesel prices will go by Rs 2.50 and Rs 2 per litre respectively.
A strong demand for diesel SUVs has bumped up the contribution of these variants to Hyundai Motor India's sales to a three-year high, a company top official told Business Standard. The local arm of the South Korean carmaker has benefitted after some leading manufacturers - including car market leader Maruti Suzuki - pulled the plug on diesel models amid tightening regulations. Hyundai has also gained from the changing travel preference -people are frequenting getaways and taking to the road a lot more than what they did before the pandemic. This trend has been fuelling overall SUV sales.
Gandhi said the one paisa cut in petrol rates was not a "suitable response" to the fuel challenge he threw to the prime minister a few days ago.
The WPI inflation currently is ruling around 8.6 per cent. He said the duties like 5 per cent import duty on crude oil was abolished when international crude price touched a record high of $147 a barrel.
The issue of price rise is a worry for every government -- it is a political volcano. But the United Progressive Alliance on Friday steeply hiked the fuel price. Will people react? Or do they remain silent and suffer? Abhishek Mande talks to experts to 'read' the pulse.
The government will look into the issue of revising the petrol and diesel prices in view of the steep increase in international crude oil prices, the new Minister for Petroleum and Natural Gas Mani Shankar Aiyar said on Monday.
Petrol price cut by Rs 1.46, diesel by Rs 1.53 per litre
Hours after the United Progressive Alliance government increased petrol and diesel prices today, the Left parties announced nationwide demonstrations against the hike, which are likely to be held on June 28.
With Indian Oil, Hindustan Petroleum and Bharat Petroleum projected to lose Rs 200,000 crore (Rs 2,000 billion) in revenues on sale of petrol, diesel, domestic LPG and kerosene below import cost, industry sources said a hike in the range of Rs 2 to 5 per litre appears on the cards.
Petroleum Minister Ram Naik on Wednesday hoped the high international crude oil prices will ease as soon as the winter season demand for oil in western countries is over.
Oil firms were supposed to break-even on sale of petrol, diesel, LPG and kerosene if the price of the basket of crude India buys were to come down to $67 per barrel. However, with 20 per cent depreciation in value of rupee against the dollar, the break-even point is now at $61 a barrel.
The government is considering a 3-rupee to 5-rupee hike in the price of diesel, which accounts for more than 40 percent of fuel use, government officials said last week, as the country looks to cut import costs by nearly $20 billion to trim a record current account deficit.
You see the Thar is not just a Car.... It is The Thar.
Diesel, which is sold at Rs 53.67 a litre in Delhi, will cost Rs 53.77 after the hike in commission.
Empowered group of ministers on fuel pricing was likely to meet soon.
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