Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Diesel price needs to be revised upward, or subjected to higher taxes, as misuse of subsidized diesel was adding to pollution and public health costs, the government's pre-budget economic report card said on Thursday.
Aramco Trading Co, a subsidiary of state oil giant Saudi Aramco, offered 2.8 million barrels of ultra low sulphur diesel for loading in late July to early August
It is the seventh reduction in jet fuel rates since August
The calculations done on June 25 were mostly based on the average international price in the first fortnight of June.
The government is mulling a marginal hike in petrol and diesel price along with an excise duty cut on auto fuels to cut the Rs 7,840 crore (Rs 78.40 billion) loss public sector oil firms are incurring every month on selling fuel below cost.
Indian Oil, which has an over 60 per cent share of fuel sales in Punjab, has observed a 14.18 per cent jump in diesel sales between January 1 and 17.
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Personal and healthcare major Emami group on Tuesday announced setting up of a bio-diesel plant at Haldia, the first in West Bengal, with an investment of Rs 150 crore (Rs 1.5 billion).
Profit on sale of diesel swelled to Rs 1.90 per litre as oil ministry awaits return of Prime Minister Narendra Modi to cut rates.
This is the project to turn municipal and agri-waste into fuel sources like diesel, jet fuel, naptha and petroleum. It is called IH2.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
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Raise diesel prices or else face a situation similar to the recent grid failure which led to complete blackout across 20 states for hours, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday.
The Indian Railways is ready to provide the technology to extract bio diesel from Jetropha and Neem free of cost to any entrepreneur.
Say this isn't the time to levy taxes, as industry is already struggling with slowing sales and rising costs; CBEC asks for supporting data.
About 45 per cent of car sales since October have been diesel, but the capacity has been constrained.
The domestic car market, which sees sales of almost one diesel car for every petrol car sold, will see demand for diesel-powered cars to hit the roof.
"Petroleum Ministry has moved a Cabinet note for raising fuel prices but a decision will depend on what allies of the ruling alliance say," an official said.
'Mr India was not the only 'invisible' person on the set.' 'There was a an 11 year old kid constantly with me, that no one else could see, except me.'
The government on Friday decontrolled petroleum prices to bring fuel costs in line with global oil rates after an Empowered Group of Ministers, headed by Finance Minister Pranab Mukherjee, met for the second time in less than three weeks to decide on raising fuel prices. Railway Minister Mamata Banerjee was absent again.
The petroleum ministry's call for an immediate Re 1 cut in excise duty on diesel has been rejected by Finance Minister P Chidambaram.
Maharashtra govt has announced an 80 paise cut in the price of petrol and a 30 paise cut in the price of diesel.
The Ministry of Petroleum and Natural Gas is demanding an increase in excise duty on diesel cars with a view to discouraging consumption of subsidised fuel by personal vehicle owners.
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A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
Supreme Court slaps temporary ban on luxury diesel car sales in Delhi.
Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.
Delhi Police on Wednesday impounded around 100 vehicles in compliance with the National Green Tribunal's order putting a ban on plying of diesel-run vehicles of more than 10 years old in the national capital.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
Petroleum Minister Murli Deora on Tuesday sought a Re 1 per litre cut in excise duty on diesel to contain runaway inflation.
Brent crude oil prices have risen to about $116 a barrel from about $103 a barrel on July 1.
The Congress government had always tried to deal blow to poors, the Bihar Chief Minister said, adding the price of petrol would also increase inflation and it will add to the people's misery.
The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
Petrol and diesel prices in the national capital have been raised marginally following the state government's decision to levy sales tax on the two auto fuels.
Land Rover on Tuesday said its first diesel hybrid sports utility vehicle will hit the roads by 2013 for which testing of the prototype named 'range e' will start this year-end.
Aiming to cash in on the growing demand for diesel cars, market leader Maruti Udyog on Wednesday launched two diesel variants of its premium hatchback 'Swift' and said it plans to launch two more models next fiscal.
Terming the calls for imposing additional tax on diesel vehicles as "retrograde", homegrown auto major Mahindra & Mahindra today said such a move will only further impede growth of the industry which has had a difficult year in 2011.
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