The prices of petrol and diesel have been recently hiked and more can be expected in coming months. A few tips on how to make your litre of petrol go the distance.
The information technology and telecom ministries spent a whopping Rs 53.14 lakh on petrol in two years, according to a RTI report.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
The initial purchase cost for an electric car may be high, but savings on fuel will help it pay back for itself in just a couple of years, if not faster.
The government on Friday said it will not increase prices of domestic cooking gas (LPG) and kerosene despite the Budget cutting to half the subsidy on the two mass consumed cooking fuels from April 1.
Retail inflation crossed the RBI's comfort level and rose to 5.21 per cent in December on increase in prices of food items.
Congress, Samajwadi Party, Trinamool Congress, Bahujan Samaj Party and Left MPs stormed into the Well of the House, saying the people were being cheated.
Retail inflation dipped marginally to 6.44 per cent in February, mainly on account of a slight easing in prices of food and fuel items though it remained above the Reserve Bank's comfort level of 6 per cent for the second month in a row. As per the government data released on Monday, the Consumer Price Index (CPI)-based inflation was at 6.52 per cent in January and 6.07 per cent in February 2022. The retail inflation rate for the food basket worked out to be 5.95 per cent in February, marginally lower than 6 per cent in January.
Eicher Motors is a leader in the premium motorcycle segment, where it holds market share of over 85 per cent under the Royal Enfield (RE) brand. The company's joint venture VE Commercial Vehicles (VECV) with Volvo, where it holds 54.5 per cent stake, gives it a strong footing in commercial vehicles (CVs). The company had good results in FY23 and it has a strong balance sheet and good operating margins.
No change in retail prices as oil marketing firms to absorb increase
Even as growth in traffic on chartered flights has fallen 6 to 8 per cent over the past year, rising fuel prices are forcing private charter operators to raise tariffs a substantial 20 per cent from September 1. India has more than 50 non-scheduled operators, which include helicopter operators like Global Vectra, aircraft operators like Ran Air and Taj Air and companies like Deccan Aviation Ltd that fly both helicopters and aircraft.
Housing sales in seven major cities rose 5 per cent annually to about 1.2 lakh units during the April-June period, while demand fell 8 per cent from the preceding quarter on surge in prices, according to Anarock. Real estate consultant Anarock, which is one of the leading housing brokerage firm, on Thursday released the data of housing market for the current April-June quarter. In April-June 2024, housing sales across seven major cities are estimated at 120,340 units, up 5 per cent from 115,090 units in the year-ago period.
While consumers feel that petrol pinches directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use.
The oil ministry has stopped making fresh allocation of natural gas from domestic fields to the city gas sector, threatening the viability of Rs 2 lakh crore investment planned in the sector besides leading to a hike in CNG and piped cooking gas prices to record levels, sources said. Despite a decision of the Union Cabinet to give 100 per cent gas supply under 'no cut' priority to the city gas distribution (CGD) sector, current supplies have been maintained at March 2021 demand level. Besides, the process of allocating gas on a six-monthly average drawl also is punishing the CGD entities driving growth.
Prices of both petrol and diesel rose for the first time in over 12 months as oil marketing companies raised rates to make up for rising cost of production. The rupee-dollar exchange rate also played spoilsport. Petrol price was on Monday hiked by 5 paise per litre and diesel by 10 paise a litre.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
Reliance Industries Ltd-owned fuel retail outlets have threatened to launch an indefinite strike from Thursday protesting against the huge losses due to decrease in demand of its fuels.
Indian automakers dispatched nearly 2.92 lakh passenger vehicles, the highest ever for February so far, driven by strong demand for cars and utility vehicles, industry body SIAM said on Friday. The total passenger vehicle dispatches from companies to dealers last month increased 11 per cent to 2,91,928 units from 2,62,984 units in February 2022. Passenger car sales rose to 1,42,201 units in February against 1,33,572 units in the year-ago period.
Weighed down by the oil-to-chemicals (O2C) business, Reliance Industries (RIL) results for the April-June quarter (Q1) of 2024-25 (FY25) missed Street estimates. A 14 per cent fall in the O2C segment's operating profit compared to the year-ago quarter and a 22 per cent sequential decline pulled down the consolidated performance. The O2C segment accounts for a third of the overall operating profit and about 60 per cent of the attributable consolidated profit.
The over-recovery on diesel for such companies reached Rs 3.56 a litre for the first fortnight of October.
Petrol price had been cut 10 times since August 2014.
When oil prices collapse from $110 to $45, economic agents in India experience a large income windfall.
Railways had earlier hiked the freight rate by 5.7 per cent in April while linking the fuel adjustment component with goods tariff. FAC is linked with fuel and energy prices and calculated accordingly.
The FIIs' stake in Reliance Industries has increased from 20.22 per cent at the end of the March 2007 quarter to 20.85 per cent at the end of the June 2007 quarter, according to the BSE's shareholding pattern data.
In no case can the UPA government pamper the private oil companies to make windfall profits and at the same time increase the price of petrol and diesel and burden the people further
UltraTech Cement's results for the fourth quarter results of the 2022-23 financial year (Q4FY23) were broadly in line with the Street estimates. The consolidated revenue, operating profit and net profit stood at Rs 18,700 crore, Rs 3,300 crore and Rs 1,670 crore, respectively, which were up 18 per cent, 8 per cent and 13 per cent YoY, respectively.
Retail inflation inched up to 4.48 per cent in October due to an uptick in food prices, government data showed on Friday. The Consumer Price Index (CPI) based inflation was at 4.35 per cent in September and 7.61 per cent in October 2020.
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
Dear Finance Minister, We don't expect magic, just a little understanding and some tax relief that feels like a real reward, not a bare minimum. A little extra fuel in our wallets could go a long way, pleads Vatsal Ramaiya
Buying a car, particularly a diesel-powered one, is set to pinch the customers' pockets even more from the next financial year, as the second phase of Bharat Stage VI (BSVI) emission norms kicks in. The rules require cars to be compliant with real driving emission (RDE) norms, which measure pollutants emitted by cars while they are being driven on the road, unlike in a laboratory test. The norms may increase the cost of producing diesel vehicles by nearly Rs 75,000 to Rs 80,000, and petrol-powered ones by Rs 25,000 to Rs 30,000, analysts said.
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.
Follow these expert tips and advice to get the best deal.
The economic growth may have slowed to 3.5 per cent in fourth quarter of 2021-22 from 5.4 per cent in the previous three-month period due to the impact of higher commodity prices on margins, decline in wheat yields and on higher base, Icra Ratings said on Monday. The agency said the hiccups in the recovery of the contact-intensive services attributable to the third wave of Covid-19 in the country may have also affected the economic growth in the quarter. Even the gross value added (GVA) at basic prices (at constant 2011-12 prices) in Q4 FY2022 seems to have eased to 2.7 per cent from 4.7 per cent in Q3 FY2022, it said.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
Air travel became costlier on Tuesday with major Indian carriers hiking fuel surcharge on tickets, ranging from Rs 150 to Rs 250 for domestic travel and $15 (Rs 825) for a one-way international ticket, following an almost eight per cent increase in jet fuel prices.
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