Petrol

Petrol, diesel sales rise as agriculture season picks up: Industry data

India's fuel demand rose in March as a pick-up in agriculture activity helped reverse a slowdown that was witnessed in the first half of the month, preliminary industry data showed on Sunday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter lull. But a seasonal slowdown kicked in during the first half of March. However, there was a pick-up in the second half, which helped sales rise even month-on-month despite the high base of February. Petrol sales rose 5.1 per cent to 2.65 million tonne in March when compared with the same period of last year. Sales were up 3.4 per cent month-on-month, the data showed. Diesel, the most consumed fuel in the country, saw demand rise by 2.1 per cent to 6.81 million tonne during March when compared with 6.67 million tonne sales in the same period a year back. Month-on-month the demand was up 4.5 per cent. In the first half, petrol sales had

Windfall tax on crude oil slashed to Rs 3,500/tonne, duty on diesel hiked

Petrol and Aviation Turbine Fuel (ATF) have been exempted from the export levy

Petrol, diesel sales drop in March after record growth in February

India's fuel demand fell in the first half of March after posting a record growth in the previous month, preliminary industry data showed on Thursday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter lull. March saw the seasonal slowdown kicking in with rise in temperatures. Petrol sales decreased by 1.4 per cent to 1.22 million tonnes in the first half of March when compared with the same period of last year. Sales fell 0.5 per cent month-on-month, the data showed. Diesel, the most consumed fuel in the country, saw demand slip 10.2 per cent to 3.18 million tonnes during March 1 to 15 when compared with 3.54 million tonnes sales in the same period a year back. Month-on-month the demand was down 4.6 per cent. During the first half of February, petrol consumption had jumped by almost 18 per cent year-on-year while diesel sales were up nearly 25 per cent. The consumption of p

Gujarat govt earned Rs 38,760 cr from taxes on petrol, diesel in two years

The Gujarat government earned Rs 38,730 crore from value-added tax (VAT) and cess on petrol, diesel, CNG and PNG in the last two years, the state legislative Assembly was informed on Monday. The state government received Rs 4,219 crore from the Centre against Rs 21,672.90 crore as the Goods and Services Tax (GST) compensation for the period from January 1, 2021 to December 31, 2022, it was stated. Responding to a starred question in the Assembly, state Energy Minister Kanu Desai said the state government earned Rs 11,870 crore from VAT and cess on petrol, Rs 26,383 crore on diesel, Rs 128 crore on PNG and Rs 376 crore on CNG in two years. The state government had imposed 13.7 per cent VAT and 4 per cent cess on petrol, 14.9 per cent VAT and 4 per cent cess on diesel, 15 per cent VAT on PNG (commercial), 5 per cent VAT on PNG (household), 15 per cent VAT on CNG (wholesaler), and 5 per cent VAT on CNG (retailer), he said. He further informed the House that there was no change in the

Petrol, diesel sales surge to double digits in February after winter lull

Petrol sales of state-owned fuel retailers jumped 12 per cent to 2.57 million tonne in February, as compared to 2.29 million tonne of consumption in the same period of last year

Pak hikes petrol price; efforts on to appease IMF for unlocking loan

People in Pakistan woke up on Thursday to the shock of a historic price hike in the prices of petrol and gas as the government tried to appease the IMF for unlocking the critical loan tranche for the cash-strapped country. The petrol bomb as the price hike is termed these days, was dropped around Wednesday midnight, hours after the government unveiled a tax-loaded 'mini-budget' in the Parliament to extract Rs 170 billion from the people through new taxes and increase in electricity and gas prices. The price of petrol was hiked to Rs 272 per litre after an increase of Rs 22.20, a press release from the Finance Division read Wednesday night, noting that the surge has taken place due to the rupee's devaluation against the dollar. The price of the high-speed diesel (HSD) hiked by Rs 17.20, kerosene by Rs 12.90 and light diesel oil (LDO) by Rs 9.68. The new price of HSD will cost Rs 280 per litre. Kerosene will be available at Rs 202.73 whereas LDO will be sold at Rs 196.68 per ...

Centre slashes windfall tax on crude oil from Rs 5,050/tonne to Rs 4,350

Windfall tax: The additional excise duty on ATF has been cut to Rs 1.5 per litre from Rs 6 per litre earlier

Exporters need to be receptive towards impact of recession: FM Sitharaman

She also revealed that petrol, diesel can be included in GST once states agree

Indian refiners may buy Russian oil for domestic demand, export own: Report

With these imports, India can maintain a domestic inventory of refined products like petrol and diesel

Petrol doped with 20% ethanol goes on sale in 11 states/UTs to cut emission

Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per cent ethanol, 90 per cent petrol) and the government is looking to double this quantity by 2025. Prime Minister Narendra Modi launched the higher 20 per cent ethanol blended petrol two months ahead of the planned rollout in April, at the India Energy Week (IEW) 2023 here. "We have increased ethanol blending in petrol from 1.5 per cent (in 2014) to 10 per cent and are now progressing towards 20 per cent blending," Modi said. In the first phase, 15 cities will be covered and in the next two years it will be expanded throughout the country. India saved as much as Rs 53,894 crore in forex outgo from 10 per cent blending besides benefiting the farmers. E-20 (petrol with 20 per cen

Punjab cabinet imposes 90 paise per litre cess on sale of petrol, diesel

The Punjab Cabinet on Friday gave its approval for a marginal increase in the VAT rates levied on the sale of petrol and diesel in the state

Kerala budget 2023: Opposition fumes as petrol, diesel, liquor get costlier

Kerala FM KN Balagopal presented the Pinarayi Vijayan 2.0 government's second budget proposing a Rs 2 cess on petrol and diesel in addition to a Rs 20 hike on Indian Made Foreign Liquor (IMFL)

Pakistan hikes petrol, diesel prices by Rs 35 amid economic crisis

With today's hike, petroleum will now cost Rs249.80 per litre, while diesel Rs 262.80 per litre, kerosene oil Rs 189.83 per litre and light diesel oil Rs 187 per litre

Petrol stocks may dry up in Pakistan as banks refuse to open, confirm LCs

The Petroleum Division has warned the State Bank of Pakistan (SBP) that the stocks of petroleum products may dry up as banks are refusing to open and confirm Letters of Credit (LCs) for imports

Ethanol blending in petrol rose to 10.17% in July 2022: Petroleum Minister

"India has increased the ethanol blending in petrol from 1.53 per cent in 2013-14 to 10.17 per cent in July 2022," an official statement quoted Puri as saying

Petrol blended with 20% ethanol from April 1, says Hardeep Singh Puri

Says India will contribute 25% to global ethanol demand by 2040

Sugar firms may seek govt nod to retail green fuel from their own premises

The plan is to convert sugar factories into full-scale 'green energy hubs'

Petrol, diesel sales surge in Dec as economy picks up momentum, shows data

India's petrol and diesel demand soared in December as increased consumption in agriculture sector helped build on the momentum generated by the festive season, preliminary industry data showed on Sunday. Petrol sales soared 8.6 per cent to 2.76 million tonnes in December, as compared to 2.54 million tonnes of consumption in the same month last year. Sales were 13.3 per cent higher than in COVID-marred December 2020 and 23.2 per cent more than in pre-pandemic December 2019. Month-on-month, the demand was up 3.7 per cent on the high base festive season created since October. Diesel, the most used fuel in the country, posted a 13 per cent rise in sales in December to 7.3 million tonnes, as compared to the same month last year. Consumption was up 14.8 per cent over December 2020 and 11.3 per cent higher than pre-COVID 2019. Diesel sales, however, dipped marginally by 0.5 per cent when compared with November 2022. Petrol and diesel sales were the highest since June. Industry source

CAG says 3 state-owned oil firms ignoring own software for logistics

National auditor says state-owned companies make monthly adjustments that aren't best for saving costs, efficiency

OMC marketing margins improve in December after extended period of decline

Lower global crude prices, higher gross refining margins have driven overall marketing margins upwards