Page 52 - Fuel Prices
A week after daily revision, petrol and diesel prices see net decline
Petrol price has been cut almost every day with reduction ranging from 11 to 32 paise per litre
Private fuel retailers relieved as OMCs end 19-day price freeze
In a market dominated by state-run oil companies, private retailers, industry sources say, are forced to follow price trends set by state-run companies
 "Private fuel retailers relieved as OMCs end 19-day price freeze")
Expedite oil price reform
Replace pricing based on trade parity with a cost-plus formula
Household budgets: Tighten your purse strings as prices likely to go up
Rise in crude oil prices so far was the result of production cuts by the major oil-producing countries
 "Household budgets: Tighten your purse strings as prices likely to go up")
Excise on petrol, diesel cut by Rs 2/L; Govt may suffer Rs 26,000 cr loss
This comes at a time when diesel in Delhi scaled an all-time high of Rs 59.14 per litre
 "Excise on petrol, diesel cut by Rs 2/L; Govt may suffer Rs 26,000 cr loss")
Govt cuts basic excise duty on petrol, diesel by Rs 2/litre
This has been done to cushion impact of rising international prices of crude petroleum oil & petrol & diesel on their retail sale prices
 "Govt cuts basic excise duty on petrol, diesel by Rs 2/litre")
Diesel prices at record high of Rs 61.74 per litre, petrol crosses Rs 71
Price of petrol and diesel in Delhi is the lowest in all metros
 "Diesel prices at record high of Rs 61.74 per litre, petrol crosses Rs 71")
Petrol, diesel may get costlier in Delhi; higher rental to affect 400 pumps
The combined impact on fuel retailing outlets is estimated at Rs 12 billion
 "Petrol, diesel may get costlier in Delhi; higher rental to affect 400 pumps")
Cut VAT on petrol, diesel by 5% to benefit consumers: Centre to states
After Tuesday's cut, excise duty on petrol has come down to Rs 19.48 per litre and diesel to Rs 15.33 per litre
 "Cut VAT on petrol, diesel by 5% to benefit consumers: Centre to states")
Petrol prices down by Rs 2.5/L, diesel by Rs 2.25 post excise duty cut
The government had yesterday cut excise duty on petrol and diesel by Rs 2 per litre each to moderate the relentless rise in fuel prices over the last three months
 "Petrol prices down by Rs 2.5/L, diesel by Rs 2.25 post excise duty cut")
Maharashtra may cut VAT on petrol, diesel, suffer Rs 2,600 cr revenue loss
BJP-ruled Maharashtra levies 46.52 per cent VAT (47.64 per cent in Mumbai) on petrol, the highest in the country
 "Maharashtra may cut VAT on petrol, diesel, suffer Rs 2,600 cr revenue loss")
Petrol, diesel to be cheaper in Maharashtra after 4% VAT cut
Net reduction in petrol and diesel prices will be around Rs 2.33 per litre and Rs 1.25 per litre respectively from Tuesday midnight
 "Petrol, diesel to be cheaper in Maharashtra after 4% VAT cut")
Gujarat first state to slash VAT on fuel prices
Gujarat currently levies a 28.96 per cent VAT on petrol and diesel
 "Gujarat first state to slash VAT on fuel prices")
Cutting excise duty on fuel a conscious decision: Jaitley
Economic growth can aid in recovering revenue losses due to excise duty cut on oil, he said.
 "Cutting excise duty on fuel a conscious decision: Jaitley")
Gujarat slashes VAT on fuel prices by 4%
Following the Centre's directive, Government of Gujarat on Tuesday announced a cut in value added tax (VAT) on retail petrol and diesel prices by four per cent . Effective from midnight, the cut in VAT on retail fuel prices will bring down price of petrol by Rs 2.93 per litre and that of diesel by Rs 2.72 per litre.Announcing the move, Gujarat chief minister Vijay Rupani said Rupani maintained that the decision was taken "in the interest of the people". "The decision should not be linked with the polls. The only aim is provide relief to people," Rupani added.After a cut in VAT, new rates on petrol and diesel applicable from midnight in Gujarat will be Rs 67.53 per litre and Rs 60.77 per litre, respectively.Rupani had earlier said that the state would reduce taxes on petrol and diesel in the coming two or three days in line with the Centre's directive. The Centre had announced last week that excise duty on fuel would be cut, saying the move was an attempt to 'cushion the impact of ...
 "Gujarat slashes VAT on fuel prices by 4%")
Cruel joke: Here is how Twitterati reacted to petrol price cut faux pas
Social media users had a field day after petrol and diesel prices were cut by just one paisa following 16 days of relentless hikes, and that too moments after a false '60 paise cut' announcement
 "Cruel joke: Here is how Twitterati reacted to petrol price cut faux pas")
Despite cut, India's fuel rates 2.5 times of Singapore benchmark: Moody's
Retail selling prices increasing since July 2017 in line with rise in international oil prices
Govt not considering excise duty cut on petrol, diesel for now: DEA Secy
The central government levies Rs 19.48 a litre of excise duty on petrol and Rs 15.33 per litre on diesel. State sales tax or VAT vary from state to state.
As prices rise, govt under pressure to cut excise duty on auto fuels: Icra
Over the past three months, crude oil prices have increased by about 28% from $52.3 per barrel in August-end
Excise duty cut on petrol, diesel comes after months of rising prices: Sena
It also accused the ruling party of not being "mentally prepared" to reduce fuel prices