At a time when diesel-powered vehicles have been driving sales in the country's otherwise sluggish automobile market, the industry has been hit by a double whammy.
The company powered its ecoDemonstrator 787 flight test airplane on December 2 with a blend of 15 per cent green diesel and 85 per cent petroleum jet fuel in the left engine.
Diesel price hike is a tough decision and we need lot of tough decisions to get to 8 per cent growth rate," Planning Commission Deputy Chairman Montek Singh told reporters.
While the technology developed by the University of Exeter, with support from Shell, still faces many significant commercialisation challenges, the diesel, produced by special strains of E coli bacteria is almost identical to conventional diesel fuel.
The satta market is accepting bets on how many times Modiji will mention Nehru at his election rallies, says A Ganesh Nadar with a wink.
Diesel is 40 per cent cheaper than petrol and some of the diesel cars are 30 per cent more fuel efficient as compared to their petrol variant.
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.
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.
OMCs are currently incurring daily under-recovery of Rs 230 crore.
Country's largest car maker Maruti Udyog Ltd today said it would come out with a diesel variant of one of its existing models by the end of next year equipped with engine from its diesel plant in Maneshar in Haryana.
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
State-run Indian Oil Corporation (IOCL) reported a weak performance in the fourth quarter of FY24 (January-March 2024), and the turmoil in the energy market indicates it could endure another lacklustre quarter. The oil marketing company (OMC) reported an Ebitda of Rs 10,400 crore, down 27 per cent year-on-year (Y-o-Y) due to weak reported gross refining margin (GRM) of $8.4 per barrel in Q4FY24, which was almost half the consensus expectation of $15 per barrel.
Petrol pumps in many cities witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists.
Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.
Targeting Modi over inflation, Priyanka called him a "mehengai" man.
The Finance Ministry on Thursday expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
Lower fuel subsidy payouts might restrict gross fiscal deficit in FY15.
This is the second hike in diesel price this month.
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.
Industry experts said the scandal could hit VW hard, just as it was emerging from a damaging leadership battle.
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, that had in April/May witnessed 11-12 per cent growth in consumption, in fact saw a six per cent fall in demand at 8,02,500 tons in June, oil ministry officials said.
Indian Oil Corporation Ltd will start manufacturing fuel used in F1 racing in three months' time.
'In April, we saw a 10 per cent growth in our own volumes.'
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.
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.
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.
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.
Japanese major's idea part of strategy to double sales in emerging markets by 2017.
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
One of the challenges on diesel engine is refinement.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
Honda Motors has developed its own diesel power-trains.
Move to be aimed at reducing subsidies on the fuel.
Deepika Padukone, who makes her Hollywood debut with him in the film xXx: The Return of the Xander Cage, also arrived with him.
Putin asks to send the puppy which will be trained to replace Diesel, the French police dog that died during St Denis raid.
Toyota Kirloskar Motors Limited has launched the diesel version of Toyota Corolla Altis in the country recently.
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