But demand has shown signs of pick up in the last 10 days of April after the government allowed resumption of economic activity beyond the urban municipal limit.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
Petrol price has been cut by 58 paise a litre and diesel by 25 paise with effect from midnight tonight.
The new prices will be effective from Friday midnight.
Petrol price is to go up by 30 paisa per litre, diesel by 18 paisa as government decides to hike petrol pump dealers commission.
To curb petrol import costs, the NDA government is pushing for a 10% ethanol mix in petrol
Kinetic on Wednesday relaunched the iconic two-wheeler Luna in an electric avatar, addressing the demand for affordable electric vehicles (EVs), more than two decades after its initial introduction. e-Luna will be available at an introductory ex-showroom price of Rs 69,990, as announced by Sulajja Firodia Motwani, founder and chief executive officer of Kinetic Green, after Union Road Minister Nitin Gadkari launched the vehicle. Motwani pointed out that the current top 10 electric two-wheelers in the country are priced between Rs 1.05 lakh and Rs 1.49 lakh, making them a "luxury" that is not "practical and accessible" for most people in India.
'There exists a 'brotherhood' of sorts for a very long time and corrupt dealers and corrupt OMC officials are in it together,' Ashwani Attrish, founder, Empowering Petroleum Dealers Foundation, tells Sudhir Bisht, a veteran of the petroleum industry.
Oil companies choose to skip the revision this time.
Prime Minister Narendra Modi on Tuesday told Russian President Vladimir Putin that a solution to the Ukraine conflict is not possible on the battlefield and peace efforts do not succeed in the midst of bombs and bullets even as he flagged concerns over a missile strike on a children's hospital in Kyiv.
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
Petrol price hike will have a cascading effect and prices are going to go out of control.
Rahul alleged that the BJP-led government wanted to take money from the common man to give it to its "rich friends" and asked it to tell the people why they were not reducing the price of petrol in the country.
The price of liquefied petroleum gas cylinders across all categories, including subsidised LPG, was on Wednesday hiked by Rs 25 per cylinder -- the third straight increase in rates in less than two months.
Petrol price was on Saturday cut by Rs 0.50 per litre but there will be no change in rates of diesel.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
'It is important for states to agree 10-15 per cent duty cut and take home the same amount of tax revenue as budgeted.'
Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 6,854.25, or 5.79 per cent, in the national capital to Rs 111,344.92 per kl from Rs 118,199.17, according to a price notification of state-owned fuel retailers.
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.
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.
The party prayed for the removal of the advertisement and action against its authors and publishers.
From the November 2014 price of $106 per barrel crude oil prices dipped to as low as $26 per barrel in January 2016 and remained flat for much of the year. Did the fuel prices reflect that?
The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.
CARE Ratings, in a report, said it foresees an increase in the retail prices of petrol and diesel in the coming few days, depending on how the oil markets react in the reduction in supply from the cartel.
Petrol price hiked by 60 paise per litre, diesel by 50 paise.
Petrol and diesel prices across the country will increase by 9-13 paise a litre with effect from Tuesday midnight, after the government decided to increase the commission to petrol pump dealers.
With the fresh arrests, the total number of rioters held in connection with incidents of stone pelting and arson triggered by the demolition of a madrassa in the town on February 8 has climbed to 42, they said.
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
The game zone had fire safety equipment but action taken to control the fire was not sufficient, leading to the tragedy on Saturday, a senior police officer said on Sunday, a day after the tragedy.
The suspect identified as Vetrimaran, a trans man who had changed his name from Pandi Maheswari, blindfolded, chained and burnt R Nandhini alive, under the pretext of surprising her on her birthday eve on Saturday, at Thalambur near Kelambakkam, Chennai's southern suburb, they said.
The latest round of petrol and diesel price increase, on Thursday, met with opposition from many corners.
Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday unveiled the prototype of the world's first Bharat Stage (BS)-VI-compliant electrified flex-fuel car, developed by Toyota Kirloskar Motor. The car, which runs on 100 per cent ethanol (E100), is based on the Toyota Innova HyCross. It can cover 40 per cent of its distance on ethanol and the remaining 60 per cent on electric, with the petrol engine shut off.
Low oil prices drove the growth in states' share faster than expected, says Abhishek Waghmare.
The fuel price hike for the last 16 days had caused inconvenience and disappointment among the general public.
A higher-than-expected consumer price inflation (CPI) print for March in the US has dashed hopes of an interest rate cut by the US Federal Reserve (US Fed) in June. Analysts now expect the US central bank to start cutting rates in September, provided inflation remains in check and oil prices remain supportive. The markets, analysts believe, partially factored in this possibility.
M&M is working on petrol engine while Tata is set to introduce petrol option in Bolt and Zest.
With the government reducing the net worth for new entities in fuel-marketing space to Rs 250 crore, the market is open for new players like Total, Adani, and Saudi Aramco -- and even supermarkets - to open fuel outlets.
The government on Thursday hiked petrol and diesel prices by a marginal Rs 0.27 a litre and Rs 0.15 per litre respectively following increase in the commission paid to petrol pump dealers.
The discount will be by way of cash back which will be credited to the buyer's account in three days from the transaction
More than a week after state-owned oil firms ended a 19-day pre-Karnataka poll hiatus on revising fuel prices, petrol and diesel rates have touched record highs.
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