A litre of petrol in Delhi will cost Rs 57.31 from Monday.
Ugandan Olympic runner Rebecca Cheptegei died after allegedly being doused in petrol and set alight by her former partner.
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Amid an outcry over record high petrol and diesel prices, Union Finance Minister Nirmala Sitharaman on Saturday said the Centre and state governments will have to together work out a mechanism to bring retail rates to reasonable levels.
Additionally, road cess on petrol was raised by Re 1 per litre each on petrol and diesel to Rs 10.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
Auto manufacturers have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs.
State-owned fuel retailers are losing close to Rs 3 per litre on selling diesel while the profit on petrol has trimmed due to recent firming up in international oil prices, industry officials said detailing reasons for continuing to hold retail prices. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), who control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices for almost two years now, resulting in losses when input cost was higher and profits when raw material prices were lower.
A rise in petrol and diesel consumption can help the government cut cesses on the fuels by Rs 4.5 a litre without impacting revenue collections of FY21, and help cool off the pressure on inflation, domestic rating agency ICRA said on Friday. Petrol consumption is estimated to increase 14 per cent in 2021-22 and diesel by 10 per cent on the lower base, rise in mobility and economic recovery, ICRA said. The rating agency added that it will result in an additional Rs 40,000 crore in revenue for the government through higher collections of the cess.
More than 21 hours after a huge billboard collapsed in Mumbai's Ghatkopar area due to gusty winds and unseasonal rains, killing at least 14 persons and injuring 75 others, the search and rescue operation is still on, civic officials said on Tuesday.
Petrol price in the national capital neared the Rs 85 a litre mark while diesel rates in Mumbai were close to Rs 82 as fuel prices were raised by 25 paise per litre each on Monday. Petrol now costs a lifetime high of Rs 84.95 per litre in Delhi while diesel comes for Rs 75.13, according to a price notification from oil marketing companies. The price hike on Monday came after three days of unchanged rates. Prices were last hiked by 50 paise a litre in two instalments on January 13 and 14.
While consumers feel that petrol pinches directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use.
'At present, hybrids emit lesser carbon despite using fuel than pure play electric cars.' 'That is because EVs have to be charged and 76 per cent of the country's electricity is still coal-based and not renewables.'
They do not make leaders like him anymore, says former Savvy editor Usha Radhakrishnan, paying tribute to publishing pioneer Nari Hira who passed into the ages on Friday. August 23, 2024..
The death toll in the Ghatkopar hoarding collapse in Mumbai rose to 16 on Thursday with rescue personnel retrieving the bodies of a retired general manager of Air Traffic Control (ATC) and his wife, officials said.
Several BJP-backed state governments have unveiled schemes targeting the poor, women, farmers and students, following the party's setback in the Lok Sabha polls.
'The actual price of petrol is Rs 35 and it jumps to Rs 88 because of government taxes.'
BPCL is a high revenue-earning public-sector undertaking (PSU) and plans to privatise it are completely off the table, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday after assuming charge of the ministry for the second time. "Why would we divest ourselves of highly successful Maharatnas like BPCL," Puri said, arguing the Centre was not in favour of divesting its stake in oil PSUs.
Fortunately, no injuries were reported as there was nobody inside or on the vehicles.
India's fuel consumption slumped by over 66 per cent in the first week of April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
The new Duster will go head-to-head with popular models like Hyundai Creta, Kia Seltos, Volkswagen Taigun, Skoda Kushaq, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, MG Astor, etc in the highly competitive mid-size SUV segment.
This is the first time that petrol sales in the world's third-largest oil importer have risen since the March 25 nationwide lockdown crippled economic activity and sent demand plummeting.
Petrol pumps in Mumbai, Nagpur and other parts of the state witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers.
This will compete with Ford Ecosport petrol
Petrol price on Tuesday breached the Rs 85 a litre mark in the national capital and diesel neared record high after rates were raised for the second consecutive day. Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies. This took the petrol price in Delhi to Rs 85.20 per litre and to Rs 91.80 in Mumbai. Diesel rate climbed to Rs 75.38 a litre in the national capital - just shying away from its record high - and to an all-time high of Rs 82.13 in Mumbai, the price data showed.
Prime Minister Narendra Modi on Friday invited President Volodymyr Zelenskyy to visit India and the Ukrainian leader said he would be happy to travel to the 'great' country.
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.
Investors shunned shares of oil marketing companies (OMCs) on Friday as they feared that the government's decision to cut retail prices of petrol and diesel could hurt the companies' profit margins in the near term. On Thursday, the government announced that OMCs will reduce pump prices of petrol and diesel after a record 22 months, making them cheaper by Rs 2 per litre in the national capital. The changes were effective from Friday.
After Monday's hoarding crash in which at least 14 people died, he has been absconding, while a case under IPC section 304 (causing death by negligence) was registered against him at Pantnagar police station in the city.
Global supermajor BP Plc's exclusivity with Reliance Industries Ltd has ended but the energy giant will continue to pursue oil and gas as well as mobility ventures in India with the Mukesh Ambani firm owing to an unwritten strategic partnership, BP's outgoing India head Sashi Mukundan said. BP in 2011 spent $7.2 billion to acquire 30 per cent interest in 23 oil and gas blocks of Reliance. Eastern offshore KG-D6 block was the cornerstone of the deal that also provided for a 10-year exclusivity period which meant that BP would take up energy projects or investments in India only in partnership with Reliance.
Reliance Industries Ltd, India's most valuable company, on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in April-June -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.
After Delhi, CNG price in Mumbai has been hiked by Rs 1.50 per kg and the rate of cooking gas piped to houses by Re 1 due to rise in input costs. Mahanagar Gas Ltd, which retails CNG to automobiles and piped natural gas to households for cooking purposes in Mumbai and surrounding cities, said the increased prices will come into effect from the intervening night of July 8 and 9.
During the investigation, it was found that he had a history of physically abusing his wives, he said.
Mumbai's Ghatkopar hoarding collapse has claimed the lives of Kartik Aaryan's mama and mami, his maternal uncle and aunt, who lived in Jabalpur and were visiting Mumbai.
Diesel rates had gone up by Rs 12.55 a litre between June 7, when oil firms resumed revising prices in line with cost, and July 25.
The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, it has already started work with used online car marketplace Spinny.
BJP leader Sushil Kumar Modi on Wednesday said it is not possible to bring petrol and diesel under the GST regime for the next eight to 10 years as it would cause an annual revenue loss of Rs 2 lakh crore to all states. Centre and states collectively collect over Rs 5 lakh crore tax on petroleum products, Modi told the Rajya Sabha while participating in a discussion on the Finance Bill 2021. The statement assumes significance in view of the rise in petrol price for the past over one year which even touched Rs 100 per litre in some states. In the first reduction in rates in over a year, petrol price on Wednesday was cut by 18 paise per litre and diesel by 17 paise a litre as international oil prices tumbled to the lowest since early February.
With this increase, diesel prices have touched a record high while petrol is at a 56-month peak.
In Delhi, petrol price down Rs 2.5 a litre, diesel by Rs 2.25
The excise duty cuts on diesel and petrol will cost Rs 45,000 crore and lead to a 0.3 percentage point widening on the Centre's fiscal deficit, a foreign brokerage said on Thursday. Going by the overall consumption, the costs of the surprise move - which came after months of concerns over high payouts at filling stations - for the entire fiscal will come at Rs 1 lakh crore or 0.45 per cent of GDP, economists at Japanese brokerage Nomura said in a report. For the remaining months of the ongoing FY22, the cost will come at Rs 45,000 crore, which leads to an upward review of the fiscal deficit target.
