Fuel Economy

Summer travel pushes petrol sales by 10% in first half of May, shows data

Petrol consumption spiked by about 10 per cent in the first half of May as summer season travel led to a surge in demand for the fuel, according to provisional sales data of state-owned fuel retailers. Petrol consumption rose to 1.5 million tonne during May 1-15 from 1.37 million tonne sales a year back. Its demand was up 10.5 per cent over consumption of 1.36 million tonne in May 1-15, 2023 and nearly 46 per cent higher than Covid-marred first fortnight of May 2021. Diesel sales were up 2 per cent to 3.36 million tonne, the data of three state-owned fuel retailers, who control about 90 per cent of the fuel market, showed. The consumption of India's most used fuel has rebounded since last month. Diesel, the lifeline of transport and rural agri economy, saw just 2 per cent growth in demand in fiscal year ended March 31, 2025. In April, diesel consumption rose to 8.23 million tonne, up nearly 4 per cent over demand in the year-ago period. During May 1-15, diesel sales were 2 per cent

China issues 19 mn metric tons of fuel under 2025 1st batch export quota

China manages its refined oil exports via a strict quota system, using exports as a tool to balance and ensure the domestic market is sufficiently supplied

A-I CEO lists features of Airbus A350, says it's 'highly fuel efficient'

Civil Aviation Minister Jyotiraditya Scindia on Thursday inaugurated India's and Air India's first Airbus A350 aircraft on the first day of Wings India 2024

Why climate efforts fail to cut emissions

Technological limitations and policy inconsistencies pose a formidable challenge

Oil companies to turn profitable on fuel marketing in FY24: Fitch

State-owned oil marketers are likely to turn profitable on fuel marketing in the current fiscal ending on March 31, 2024, following large losses in the previous year, Fitch Ratings said on Monday. The rating agency expects India's petroleum product demand to grow by mid-single digit percentage in the medium term, supported by forecast that the GDP will grow by 6-7 per cent in the next few years, the government's increasing spending on infrastructure and a pick-up in industrial activity. "We expect the Indian oil marketing companies' marketing segment to turn profitable from the financial year ending March 2024 (FY24) as crude oil prices fall to Fitch's assumption of USD 78.8 per barrel, following large losses in FY23 due to high crude prices and unchanged retail fuel prices," it said. This should enable the oil marketing companies (OMCs) to partly recoup the FY23 (April 2022 to March 2023) losses in first half of FY24, before the fall in crude prices in recent months is reflected in

Centre slashes windfall tax on domestic crude oil, increases on ATF export

At its seventh fortnightly review, the government hiked the tax on the export of ATF to Rs 5 per litre from Rs 3.50

Gas crunch eases in Europe - but the respite might not last

Natural gas and electricity prices in Europe have plunged from summer peaks thanks to mild weather and a monthslong scramble to fill gas storage ahead of winter and replace Russian supplies during the war in Ukraine. It's a welcome respite after Russia slashed natural gas flows, triggering an energy crisis that has fuelled record inflation and a looming recession. Yet experts warn it's too soon to exhale, even as European governments roll out relief packages for people struggling with high utility bills and work on longer-term ways to contain volatile gas and electricity prices that have shrunk household budgets and forced some businesses to shut down. Uncertainties include not only the weather but how responsive people will be to appeals to turn down their heating and how much demand there will be from Asian economies for scarce energy supplies. And the war a few hours east is a cauldron of possible unpleasant surprises that could cut energy supplies needed for electricity, heating

Why has the govt slashed windfall tax on fuel exports and crude output?

The govt slashed the windfall tax on domestically-produced crude oil three weeks after imposing it. What may have prompted the govt to do this turnabout, and who all will benefit from it?

Remarks on Prophet threaten to fray India's energy ties with Islamic world

West Asia is also India's biggest supplier of LPG, the fuel that is used in kitchens. India imported 48 million tonnes, or 58 per cent of the fuel used in the last three fiscals

GAIL to connect Srinagar to gas grid; Mumbai-Nagpur line by May 2023

GAIL will by May 2023 complete a 700-km pipeline from Mumbai to Nagpur, enabling the flow of gas to central India

Biden administration seeks to boost fuel economy to thwart Trump rollback

The moves are big steps toward President Joe Biden's pledge to cut emissions

Indian Oil Corp nears first deal to export fuels to Mauritius: Report

IOC mostly stays away from participating in term tenders for fuel exports as the refiner sells most of its fuel in the local market, besides supplying its retail outlets in Nepal and Bhutan

Edible oil prices to decline as demand destruction ushers in bearish phase

Shutdown of factories, hotels and restaurants, and a sharp decline in crude prices have all contributed to demand destruction.

Fuel retail: Job half done

Transparent pricing regime should be the next step

India will soon be zero petroleum import country: Nitin Gadkari

He added despite low prices globally, India at present is incurring Rs 4.5 lakh crore on crude imports which was earlier Rs 7.5 lakh crore