Page 7 - Petrol

Oil at $84 again: Petrol, diesel price on hold for 68th day in a row

Petrol and diesel prices have remained unchanged for 68 days in a row despite a USD 16 swing in international oil prices and global rates again climbing to USD 84 per barrel, oil company data showed. Petrol and diesel were last changed on November 4, 2021, when the central government cut excise duty to give relief from rates that had touched an all-time high. This is the longest duration of no-change in prices since the daily price revision was introduced in June 2017, the data showed. Prior to that, there was an 82-day hiatus in rate revision between March 17, 2020, and June 6, 2020. On November 4, 2021, excise duty on diesel was cut by Rs 10 a litre and that on petrol by Rs 5 per litre, resulting in an equivalent reduction in retail pump rates. On that day, some states, mostly ruled by the BJP, cut local sales tax or VAT to give larger relief to consumers. Other states like Punjab and Delhi followed suit at later dates but the base price of petrol and diesel has remained unchang

Why India's policy to produce ethanol-blended petrol is short-sighted

The ambitious policy to promote ethanol-blended petrol is politically popular but will be bad for India's food and water security

'No recommendation by GST Council to bring petroleum products under GST'

Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure: Minister of State for Finance Pankaj Chaudhary

OMCs leave diesel, petrol prices unchanged across metros on Thursday

Diesel and petrol prices in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively.

Despite EV hype, will India be the last major economy to ditch auto fuels?

There are over 3 million CNG-fuelled vehicles registered in India

Govt earned Rs 8 trn from taxes on petrol, diesel in last 3 fiscals: FM

The excise duty on petrol rose from Rs 19.48 per litre as on October 5, 2018 to Rs 27.90 a litre as on November 4, 2021

Oil marketing companies keep diesel, petrol prices unchanged on Friday

Oil marketing companies kept diesel and petrol prices unchanged across major cities on Friday

Petrol in Delhi to be cheaper by Rs 8 as AAP govt decides to cut VAT

It was decided that the Value-Added Tax (VAT) on petrol will be reduced from the present 30 per cent to 19.4 per cent, leading to a cut of around Rs 8 per litre

Delhi govt likely to slash VAT on petrol, diesel prices today

In the Delhi Cabinet meeting on Wednesday, the government is likely to decrease VAT on petrol and diesel

Govt's excise mop-up from petrol, diesel doubles to Rs 3.7 trillion in FY21

The increase in the collection was mainly on account of rise in the incidence of taxation on fuels

No immediate consumer relief expected in petrol, diesel prices

Oil companies cautious over crude oil price fluctuations

Chhattisgarh govt announces reduction of VAT on petrol, diesel

The Chhattisgarh government on Monday decided to reduce Value Added Tax on petrol and diesel by 1% and 2%, respectively.

Petrol, diesel demand growth to halve due to CNG, ethanol, EV push: Crisil

Refiners may need to trim capacity expansion plans

Relief for consumers as petrol, diesel prices stay unchanged for fortnight

The price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on Diwali day on Nov 4 from the previous days' level of Rs 110.04 a litre, remained at the same level on Thursday

What are flex-fuel vehicles? Can they cut our dependence on petrol?

Union minister Nitin Gadkari recently said that flexible-fuel engines -- or flex engines -- will be made mandatory in India. Find out what flex-fuel vehicles are and how feasible they are

Centre to bear full revenue loss on petrol, diesel excise cut: Fin Min

The entire revenue loss on account of reduction in excise duty on petrol and diesel by Rs 10 and Rs 5 a litre respectively will be borne by the Centre

Fuel prices remain static for 11th straight day as global prices softens

Fuel prices remained unchanged in the country on Monday after the revision of duties, providing a much needed relief to consumers from the consistent increase in the rates earlier.

Statsguru: Six charts explain declining diesel consumption in India

With available data, commercial vehicles, most of which run on diesel, are the top users

Petrol prices reduced in Punjab after VAT cut, Ladakh sees diesel price cut

Punjab has seen the biggest reduction in price of petrol after it cut local sales tax or VAT the most while Union Territory of Ladakh witnessed the largest reduction in diesel rates for same reason.

Fuel tax cuts to impact states' kitty by Rs 44,000 cr in FY22: Icra

While the Centre has reduced the road cess component of excise duty which is not shared with states, the cut will bring down the VAT kitty by Rs 9,000 crore, rating agency says