Page 2 - Diesel Prices

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

India's diesel exports to Europe likely hit record high in September

Shiptracking data showed India's exports to Europe reached these levels for the first time since such figures began to be recorded in 2017

Karnataka truckers launch indefinite strike over ₹2.05 diesel price hike

Over the past decade, diesel prices in Karnataka have seen several fluctuations driven by both central and state government policies

Govt hikes excise duty on petrol, diesel by ₹2/ltr; retail prices unchanged

The excise duty on petrol was increased to Rs 13 per litre and that on diesel to Rs 10, according to an official order

Karnataka govt raises sales tax on diesel, price up by Rs 2 per litre

Karnataka government has hiked the sales tax on diesel to 21.17 per cent with effect from Tuesday, as a result of which there will be an increase of Rs 2 per litre, bringing the sale price to Rs 91.02. An official statement highlighted that the Karnataka Sales Tax rate on diesel was at 24 per cent prior to November 4, 2021, and the sale price per litre was Rs 92.03. On June 15, 2024, the Karnataka state government issued a notification revising the tax rate on diesel to 18.44 per cent. "After the approval of the Competent Authority, the Karnataka Sales Tax rate on diesel has been increased to 21.17 per cent, effective from 01-04-2025. As a result, there will be an increase of Rs 2 per litre, bringing the sale price to Rs 91.02," the statement said. However, even after this increase, the revised sales price in the state will continue to be lower compared to the neighbouring states, it stated. As on March 31, 2025, the diesel price in Bengaluru is Rs 89.02, whereas in Hosur (Tamil Na

Punjab inks MoU with IOC, secures higher diesel discount for state buses

State transport minister Laljit Singh Bhullar said with this Memorandum of Understanding (MoU), the state government would save Rs 9 crore per annum

Petrol pump dealer commission raised, retail prices remain unchanged

Commission paid to petrol pump dealers on sale of petrol and diesel has been hiked without change in retail price but rates will go down in several places in states such as Odisha, Chhattisgarh, and Himachal Pradesh on account of intrastate freight rationalisation. Commission on sale of petrol has been hiked by 65 paise a litre and that on diesel by 44 paise per litre. Alongside, the state-owned firms also rationalised intrastate tariffs which could lead to a reduction in rates of up to Rs 4.5 a litre in some parts. Indian Oil Corporation (IOC) -- the state-owned market leader -- on October 29 wrote to dealers informing of an increase in dealer margin for all categories. "Considering the hardship of retail outlets selling less than Rs 170 per kilolitre per month, special care has been taken to alleviate the same," it said. "You will be entitled to an upward revision of dealer margin of approximately Rs 0.65 per litre for petrol and Rs 0.44 a litre of diesel." This is the first ...

Oil marketing companies to bear latest oil price cut, not govt grant

OMCs have raked in record Rs 69K cr net profit in first 9 months of FY24

Elections, harvesting activities to raise diesel demand, says S&P Global

Overall demand for oil products up 2.4% or 132,000 barrels per day in February

Oil marketing companies cut petrol, diesel prices after 22 months

Both petrol and diesel to be cheaper by Rs 2 in Delhi from Friday

Gaining momentum: Petro product exports fire up after fall in January

In Feb, country regains market share in diesel shipments, India's most-valued export to Europe, putting a check on US expansion