Diesel Prices

China hikes gasoline, diesel prices for second time in fortnight

China on Tuesday announced an increase in gasoline and diesel prices for the second time in about a fortnight due to rising international oil prices triggered by the ongoing war in West Asia. China's top economic planner, the National Development and Reform Commission (NDRC), announced that the new round of price hikes will take effect from Wednesday. China already increased gasoline and diesel prices on March 23 as part of preparations for a fuel crisis amid apprehensions around the current US-Israel-Iran war. Since the adjustment of domestic oil prices in late March, international crude oil prices have experienced significant fluctuations, the NDRC said in a statement. Because of control measures, the prices of gasoline and diesel will increase by 420 yuan (USD 61) and 400 yuan (USD 58) per tonne, respectively, it said. China's three biggest oil companies, namely China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation, as

Pakistan hikes petrol, diesel prices by record 43% and 55% amid Iran war

Pakistan has announced an unprecedented increase of 43 per cent and 55 per cent in the prices of petrol and high-speed diesel (HSD), respectively, in response to spiking global oil prices amid the US-Israel war on Iran. The government made the announcement on Thursday. The price of petrol has been increased by Rs 137.23 per litre (42.7 per cent) to Rs 458.41 from Rs 321.17, while HSD by Rs 184.49 per litre (55 per cent) to Rs 520.35 from Rs 335.86, with immediate effect. The price of kerosene was also increased by Rs 34.08 per litre to Rs 457.80. The government also adjusted the petroleum levy rates to limit the increase in diesel prices as the levy on petrol was increased to Rs 160 per litre from Rs 105, while it was reduced to zero on diesel from Rs 55. Petroleum Minister Ali Pervaiz Malik while making the announcement, which he termed as a "difficult decision", said that the objective was to restrict subsidies to the most deserving segments while maintaining fiscal discipline an

ATF hiked by 8.5% for domestic airlines, more than doubles for others

Prices of aviation turbine fuel (ATF), or jet fuel, were more than doubled to a record Rs 2.07 lakh per kilolitre on Wednesday, driven by the the surge in global oil prices linked to the widening West Asia conflict. This is the first time ATF prices have crossed the Rs 2 lakh per kilolitre (kl)-mark. ATF prices in Delhi were hiked to Rs 207,341.22 per kl, from Rs 96,638.14 per kl. On March 1, prices of jet fuel were hiked by 5.7 per cent (Rs 5,244.75 per kl).

Indian Oil hikes premium petrol, diesel prices amid West Asia tensions

Indian Oil has hiked XP100 petrol price from ₹149 to ₹160 per litre and Xtra Green diesel from ₹91.49 to ₹92.99 per litre in Delhi

Australia to halve tax on fuel, underwrite spot cargoes driven by Iran war

Halving the tax would reduce the cost of fuel by 26.3 Australian cents per litre, PM Albanese said

Govt imposes taxes on fuel exports as West Asia conflict jolts supply

The country raised LPG prices earlier this month and subsequent speculation around a likely increase in pump prices of diesel and gasoline has led to panic buying

Opposition calls fuel duty cut 'late', links move to polls; BJP defends

The Congress on Friday claimed that the government's excise cuts will not change prices for dealers and consumers, and that the relief exists only in the narrative, not in reality. The government has slashed excise duty on petrol to Rs 3 per litre and exempted diesel fully from the duty. The Congress said the government should focus on delivering actual relief to consumers, instead of "manufacturing headlines and fooling people." The party's media and publicity department head, Pawan Khera, said, "If you saw the headlines about petrol and diesel prices 'coming down' and thought the government had offered relief to your pocket, you'd be mistaken." As of now, prices remain the same for dealers and for consumers, he claimed. "What has actually been reduced is the 'special additional excise duty' - a levy paid by Oil Marketing Companies to the government. The words 'special' and 'additional' reveal how unnecessary this tax is," Khera said on X. He pointed out that these companies ha

Excise duty cut can result in fiscal loss of ₹1.5 trillion, say economists

₹10 per litre excise duty cut on petrol and diesel may cost ₹1.5 trn in FY27 but help sustain consumption amid the West Asia crisis, even as economists flag risks to fiscal space

Govt absorbing burden of oil price rise to shield consumers: Hardeep Puri

Hardeep Puri said that the government has taken a significant hit to its tax revenues to offset the losses of oil companies amid elevated international prices

Petrol excise cut: How fuel taxes fill govt coffers and who gets the money

The Centre's excise duty cut has put the spotlight back on petrol and diesel taxes, a major revenue source for both Centre and states and a key pillar of government finances

India cuts fuel duty on petrol & diesel, imposes export levy on diesel, ATF

Ministers say decision aims to cushion consumers and support oil marketing companies as crude prices surge amid Iran War

₹1.5 trn hit to exchequer as govt cuts petrol, diesel excise: Deven Choksey

Deven Choksey believes the excise cut may bring some respite to OMCs amid high energy prices, while create a ₹1.5 trillion dent to the exchequer per year.

West Asia war: India cuts fuel duty; Trump delays Iran strikes for 10 days

Brent crude eased to around $107 per barrel as India cut fuel duty, while Trump delayed Iran strikes and Tehran allowed select countries to use the Strait of Hormuz

Why India cut fuel excise duty now and what it means for petrol prices

India's excise duty cut on petrol, diesel comes amid rising global oil risks linked to West Asia tensions; here's why the move matters, how fuel prices are calculated, and what it means for consumers

Govt cuts excise duties on petrol, diesel by ₹10/litre each amid Iran war

The move comes against the backdrop of a global energy crisis triggered by the US-Israel conflict with Iran and Tehran's blockade of the Strait of Hormuz

IOC, BPCL, HPCL shares react as govt trims excise duty on petrol, diesel

The government has reduced the excise duties on petrol and diesel by ₹10 per litre each, bringing them down to ₹3 per litre of petrol and zero per litre of diesel

Cong slams PM over rising oil, gas import dependence amid supply concerns

The Congress on Friday attacked Prime Minister Narendra Modi over India's increasing dependence on crude oil, LPG and natural gas imports. "The gas grandly promised by Mr Modi has remained that -- gas," Congress general secretary in-charge of communications Jairam Ramesh said on X, pointing to India's dependence on natural gas imports. "Between 2014-15 and 2024-25, India's dependence on crude oil imports went up from 84% to 90%. Between 2014-15 and 2024-25, India's dependence on LPG imports went up from 46% to 62%," Ramesh said, adding that "all this when the mantra was supposed to be Atmanirbharta, or self-reliance. The natural gas story is murkier, he claimed. "On June 26, 2005, the then CM of Gujarat (Modi) boasted that the Gujarat State Petroleum Corporation had discovered India's biggest gas reserve in the deep waters of the Krishna-Godavari river basin. Mr Modi announced that this would make India energy independent," Ramesh said. He claimed that five CAG (Comptroller and ..

Nayara Energy hikes petrol price by ₹5 per litre, diesel by ₹3 amid war

Nayara Energy, India's largest private fuel retailer, on Thursday raised petrol prices by Rs 5 per litre and diesel by Rs 3 a litre, passing on part of the recent surge in global oil prices following the war in the Middle East, sources said. Fuel marketing companies in India have been under strain as retail petrol and diesel prices remained frozen despite a nearly 50 per cent surge in international oil prices since February 28, when the United States and Israel launched military strikes against Iran, triggering sweeping retaliation from Tehran. Nayara Energy, which operates 6,967 of India's 102,075 petrol pumps, has decided to pass on part of the increase in input costs to consumers, two sources with direct knowledge of the matter said. A company spokesperson did not immediately offer any comment on the story. Jio-bp, the fuel retailing joint venture of Reliance Industries and BP Plc that owns 2,185 outlets, has, however, so far not raised prices despite incurring heavy losses on s

Tech analyst backs these 3 stocks even as mining, sugar face cost pressure

Sachin Gupta, research analyst at Choice Broking recommends accumulating Hindustan Zinc, Coal India and EID Parry on dips for a potential upside bounce as per technical charts.

Rise in industrial diesel price hits sugar mills and mining sector

Sharp rise in industrial diesel prices raises transport and input costs, putting pressure on sugar mills' cash flows and mining operations across sectors