Bowing to the demand of state petrol pump operators, Maharashtra Chief Minister Vilasrao Deshmukh on Tuesday agreed to cut state sales tax on petrol and diesel to make auto fuels competitive with neighbouring states.
Owing the sudden rains, Mumbai's Chhatrapati Shivaji international airport too announced a temporary suspension of flights. While incoming flights have been diverted to other destinations like Goa and Ahmedabad, outgoing flights have been delayed. Airport sources said flights are being resumed in a staggered manner to cope with the rush and it will take some time for normalcy to return.
Indian Oil Corporation is India's only Fortune 500 company.
The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
Curfew-like restrictions have been imposed in the area, which is the headquarters of the Dera Sacha Sauda sect.
The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation, industry sources said. India on July 1 joined a select league of nations globally that have taxed windfall gains accruing to oil companies from soaring energy prices. The government slapped a Rs 6 per litre tax on the export of petrol and jet fuel (ATF) and Rs 13 a litre on the export of diesel effective July 1. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
The government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally. A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
'I have no problems with the finance ministry or with state governments treating petrol pump prices as the last resort for meeting their ambitious spending targets with very limited revenue resources.' 'But let's do away with this smokescreen of free pricing of petrol and diesel and go back to administered pricing regime,' says Dr Sudhir Bisht.
Bharatiya Janata Party leader Kirit Somaiya on Sunday alleged that ad firm director Bhavesh Bhinde had paid Rs 46 lakh as bribe to a company of the wife of then GRP commissioner, who gave permission to install a hoarding which collapsed in Mumbai last month.
Oil marketing companies IOC, BPCL and HPCL have invited expressions of interest from start-ups that wish to be enrolled as fuel entrepreneurs for doorstep delivery of high-speed diesel through mobile petrol pumps.
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
RBML - the joint venture of Reliance Industries Ltd and supermajor BP - has told the government that fuel retailing for the private sector in India has become unsustainable after market-controlling public sector firms frequently froze petrol and diesel prices at rates way below the cost, sources said. Despite a surge in oil prices, state-owned Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) first froze petrol and diesel rates for a record 137 days beginning early November 2021 when five states including Uttar Pradesh went to the polls, and last month again went into a hiatus that is now 47 days old. "They (Reliance BP Mobility Ltd) has written to the petroleum ministry over the fuel pricing issue," a highly placed source in the government, who didn't want to be quoted, told reporters.
The decision, set to be implemented from August 1, had met with fierce opposition from pump owners.
A delegation of Trinamool Congress leaders on Wednesday met Election Commission officials here and alleged that the use of Prime Minister Narendra Modi's photo on advertisements of various central schemes and the COVID vaccination certificates, distributed by the Union health ministry, violated the model code of conduct.
The dealers are protesting against the use of petrol pumps for government campaigns and seeking of personal data of over a million people working there
A pilot for daily revision of petrol and diesel price will be first implemented in Puducherry and Vizag in Andhra Pradesh, Udaipur in Rajasthan, Jamshedpur in Jharkhand and Chandigarh
The excise duty cut will translate into a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre in diesel after taking into account its impact on other levies.
During the investigation, it was found that he had a history of physically abusing his wives, he said.
Terming demonetisation as an 'unplanned and unthought process', Vadra wrote, "The government seems to have reached its levels of desperation to overcome the initial blunder it created."
The Election Commission has rubbished any allegations of misuse of the EVMs.
At least 16 people were killed, and 75 injured after the billboard collapsed in an unexpected dust storm in Mumbai on Monday.
The operation went on for 66 hours after a giant 120 feet x 120 feet hoarding collapsed on a petrol pump in the Chheda Nagar area during gusty winds on Monday evening, the official said.
The incident took place near Magdalla Port on Dumas road when a large number of truck drivers blocked the road demanding withdrawal of the new law on hit-and-run cases, Deputy Commissioner of Police (Zone-6) Rajesh Parmar said.
Manjunath (27), a sales officer with Indian Oil Corporation and a graduate from Indian Institute of Management, Lucknow, paid with his life for exposing an alleged petrol adulteration racket.
Blockades on two vital national highways in land-locked Manipur in the last few days have made people begin to feel the pinch with prices of essential commodities going up and petrol pumps closing down.
A deadly collision involving a gas tanker and multiple vehicles turned a stretch of the Jaipur-Ajmer highway here into an inferno on Friday morning, killing seven people, injuring more than 35 and engulfing over 30 vehicles in flames as thick black smoke filled the sky.
As the world's third-largest oil importer and consumer, India is running out of options as the relentless surge in international oil prices make it imperative to pass them on to consumers, officials said on Monday. India imports 85 per cent of its crude oil needs and about half of its natural gas requirement. While the imported crude oil is turned into fuels such as petrol and diesel, gas is used as CNG in automobiles and fuel in factories.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
The party prayed for the removal of the advertisement and action against its authors and publishers.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
Petrol and diesel prices on Thursday were hiked by 35 paise per litre each, the second consecutive day of increase that took pump rates across the country to record high levels. The price of petrol in Delhi rose to its highest-ever level of Rs 106.54 a litre and Rs 112.44 per litre in Mumbai, according to a price notification of state-owned fuel retailers. In Mumbai, diesel now comes for Rs 103.26 a litre; while in Delhi, it costs Rs 95.27 per litre.
The officials said over a dozen suspected persons were rounded up for questioning during the investigation and two of them were arrested in connection with the blasts.
Sajid Khan drove a burning petrol tanker for 5 km, averting a major disaster.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
As dawn breaks, two queues start forming at the only petrol pump inLakshmangarh, a small town in Rajasthan's Alwar district.
Rushikesh Devdikar alias Murali, 44, who was absconding was arrested on Thursday from his hideout at Katras in Dhanbad district of Jharkhand, the SIT said in a statement. According to the probe team, Devdikar was part of the conspiracy to kill Lankesh. He is accused number 18 in the case.
A resident of Bilaspur Khurd village, Kumar said he demanded security from the police but was provided with only one constable.
... and I learn more about economic trends than from books, says Ajit Balakrishnan.
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances