WebinarsNew
Deep DiveNew
Explore Business Standard
Petrol
Nayara Energy, India's largest private fuel retailer, has raised petrol prices by Rs 5 per litre and diesel by Rs 3 with immediate effect, seeking to narrow the gap between retail prices and rising international oil and refined-product costs, people familiar with the matter said. The latest increase comes amid renewed pressure on fuel retailers from higher global energy prices and follows a series of price adjustments by Nayara this year as refiners grapple with the impact of geopolitical disruptions on crude and product markets. Nayara, which operates 7,108 petrol pumps across the country, raised petrol and diesel prices with effect from early hours of Saturday, sources said. An email sent to Nayara spokesperson for comments remained unanswered. Nayara was the first fuel retailer to pass on the surge in international oil prices to consumers when the Iran conflict disrupted energy supplies earlier this year. On March 26, it raised petrol prices by Rs 5 a litre and diesel by Rs 3, .
The government will ask private fuel retailers not to restrict sales of petrol or diesel, Oil Secretry Neeraj Mittal said Thursday, after Jio-bp and Nayara Energy imposed purchase limits at some of their outlets as a widening price gap drove industrial users to petrol pumps to stock up on cheaper diesel. "Nobody is allowed to cap fuel sales. It is not acceptable; it is not done," he told reporters here, adding that the government's position had not changed. Private retailers Jio-bp and Nayara Energy had last month introduced purchase limits at some outlets as factories, telecom companies, hotels, hospitals and other bulk users increasingly bought diesel meant for retail customers. The unusual rush is being driven by a price gap of as much as Rs 50 a litre between retail diesel and fuel sold to bulk consumers, creating a powerful incentive for large users to shift purchases to petrol pumps. Jio-bp has capped diesel purchases at 50 litres per customer per day at some outlets, while .
The government on Tuesday hiked windfall gains tax on export of petrol and diesel, and reduced it marginally on ATF for the next fortnight. The rate of special additional excise duty (SAED) along with road and infrastructure cess on export of diesel now stands at Rs 25 per litre, up from Rs 24 a litre. SAED on export of aviation turbine fuel (ATF) has been set at Rs 19 per litre, compared to Rs 19.5 per litre earlier. The duty on petrol exports has been hiked to Rs 1.5 per litre effective September 1, up from zero earlier. The Finance Ministry in a notification said the duty hikes will be effective from September 1. Amid escalating tensions in West Asia, the Government imposed an export duty on diesel and ATF on March 27 and revised the rate every fortnight. Beginning May 16, the levy was imposed on petrol exports. The ministry also said that there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption. The windfall tax was levied to incre
The Supreme Court is scheduled to hear a petition on August 31 seeking a directive to the Centre and others to ensure mandatory and uniform labelling on every dispensing nozzle at petrol pumps, disclosing the exact percentage of ethanol in petrol. According to the apex court's causelist of August 31, the plea would come up for hearing before a bench comprising Justices M M Sundresh and Prasanna B Varale. The petition, filed by Narendra Kumar Goswami, has also sought a direction that every fuel invoice should specifically and legibly state the percentage of ethanol in the petrol sold. "Direct the respondents (Centre and others) to prepare and publish within a stipulated time an official, public, vehicle-wise compatibility database searchable by manufacturer, model, engine type and year of manufacture, indicating the suitability or otherwise of various ethanol blends for each vehicle," the plea said. It has also sought constitution of an independent expert committee comprising ...
Petrol and diesel sales by India's three state-run fuel retailers rose sharply in July as below-normal monsoon rainfall boosted fuel demand from farmers and motorists, preliminary industry sales data showed. Petrol sales by Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) climbed 9.7 per cent to 3.45 million tonnes during July, compared with 3.14 million tonnes in the corresponding period a year ago. The volume was also 15.1 per cent higher than 2.99 million tonnes sold during July 2024 and 36.1 per cent above the level recorded in the same period of 2023. Compared to June, however, petrol sales fell 1.1 per cent from 3.48 million tonnes. Diesel sales, a key indicator of economic activity in India, rose 10.7 per cent year-on-year to 7.12 million tonnes in July from 6.43 million tonnes a year earlier. Diesel is India's most widely used fuel, powering freight transport, agricultural machinery and irrigation. Below-normal monsoon rainfal
Aam Aadmi Party (AAP) national convenor Arvind Kejriwal on Saturday demanded the government give the option to choose between pure petrol and E20 at fuel pumps and announced a march to the prime minister's residence on August 4 to submit petitions. Addressing a town hall style meeting on E20 fuel at the Constitution Club of India here, Kejriwal said he would collect petitions at noon on Monday and lead a march to Narendra Modi's residence on Lok Kalyan Marg with around 100 people. Kejriwal demanded that consumers be allowed to choose between E20 and regular petrol at fuel stations, and demanded lower prices for E20 mixed petrol, and a cut in petrol prices. The former Delhi chief minister also urged the government to make public the report that it cited to claim that E20 does not damage vehicles. "The Centre says studies have been conducted and E20 does not harm vehicles. I want them to share that report," he said. People from across states attended the event and shared their ...
Petrol blended with 20 per cent ethanol (E20) can reduce fuel economy by 2 to 6 per cent depending on the vehicle category and vintage, Road Transport and Highways Minister Nitin Gadkari informed Parliament on Thursday. The Union Minister, however, argued that tests for engine durability on a dynamometer and on-road vehicle tests have not shown any failures due to E20. In a written reply to the Lok Sabha, Gadkari said E20 fuel provides better acceleration, improved ride quality and approximately 30 per cent lower carbon emissions compared to E10 fuel. Gadkari said a study to evaluate the effect of E20 on BS-III, BS-IV and BS-VI E10 (Gasoline) two-wheelers and four-wheelers was carried out jointly by ARAI, SIAM and Indian Oil Corporation Ltd (IOCL). He said the study comprised of standard testing as per the respective certification requirements & customized test protocols developed along with the Original Equipment Manufacturers (OEMs). "The fuel efficiency of vehicles may be ...
The government on Monday said it has not assessed the proportion of vehicles in the country that are fully compatible with E20 petrol, but maintained that extensive studies and field trials have found the fuel to be safe for use under prescribed standards. In a written reply to a question in the Rajya Sabha, Minister of State for Petroleum and Natural Gas Suresh Gopi said, "Ministry of Heavy Industries (MHI) have informed that no such assessment has been done by them" of the percentage of vehicles currently compatible with E20 fuel (petrol doped with 20 per cent ethanol). The minister said the Ethanol Blended Petrol (EBP) programme had been implemented through a phased and scientifically validated process involving NITI Aayog, automobile manufacturers, oil marketing companies, the Automotive Research Association of India (ARAI), the Society of Indian Automobile Manufacturers (SIAM), the Indian Institute of Petroleum (IIP) and other technical institutions. He said laboratory studies
Delhi-based transport bodies have announced a protest march to the Parliament on August 4 demanding withdrawal ethanol-blended petrol. The call has been given by the Delhi Taxi and Tourist Transporters and Tour Operators Association and others. "We are planning to hold a protest march to Parliament on August 4 against ethanol blended petrol demanding its withdrawal. We want to give a wake-up call to the member of parliaments who are sleeping till now on this issue, as the problems in vehicles from the ethanol blending are coming from across the country," Sanjay Samrat, president, Delhi Taxi and Tourist Transporters and Tour Operators Association, said. "We do not want to make this a political issue, and are not associated with any 'E-20 Janta Party' or Cockroach Janta Party or any other political party," Samrat added, referring to the online movement against the E20 fuel, a blend of 20 per cent ethanol and 80 per cent petrol. Harish Sabharwal, national president, All India Motor ..