Page 2 - Fuel Prices

K'taka truckers to hold strike over fuel price hike, toll-related issues

The trucks from Karnataka are expected to go off the road from midnight on Monday as the truckers affiliated to the Federation of Karnataka State Lorry Owners and Agents Association (FOKSLOAA) are set to begin their indefinite strike against fuel price hike and harassment at toll plazas. According to the FOKSLOAA's honorary general secretary Somasundaram Balan, the federation is the biggest transport body in Karnataka with nearly six lakh trucks enrolled with it and comprises 196 truckers' bodies. There is no change in our programme. We will go ahead with our strike because the Karnataka government has not called us for any meeting yet. Our demands are against fuel price hike and toll issues, Balan told PTI. In a letter to its members, FOKSLOAA gave a call for an indefinite suspension of transport operations in Karnataka for resolution of critical and long-standing issues faced by the road transport sector in the state. Steep hike in Value Added Taxes (VAT) on diesel, resulted in a

Congress accuses govt of looting, demands CAG audit on fuel duty hikes

Accusing the government of "looting" people by increasing excise duty on petrol and diesel, the Congress on Sunday called for fixing accountability and demanded that the CAG should audit how government policies benefited private companies. The opposition party also demanded that the Central Vigilance Commission (CVC) and Central Bureau of Investigation (CBI) should investigate whether there was deliberate negligence or collusion in this. Congress general secretary in-charge communications Jairam Ramesh in a post on X said, "The people of India are being looted on one hand the Modi government is increasing the tax burden and picking people's pockets, while on the other hand private and government oil companies are making profits! This is open economic exploitation!' "The truth is: In May 2014, the excise duty on petrol was Rs 9.20 and on diesel Rs 3.46. Which is now Rs 19.90 on petrol and Rs 15.80 on diesel in the Modi government an increase of 357% and 54%!" he said in his post in

Kumaraswamy slams Karnataka govt over taxes, defends Centre on fuel price

Meanhwile, Karantaka Chief Minister Siddaramaiah lashed out at the BJP's Jan Akrosh Yatra in the state and said that BJP leaders lack dignity or decorum

Indian Youth Congress stages protest against LPG, fuel price hike

Members of the Indian Youth Congress held a protest here on Saturday against the recent hike in excise duty on petrol and diesel as well as the rise in prices of CNG and LPG, accusing the Narendra Modi government of failing to manage the country's economy. The protest took place at the Indian Youth Congress (IYC) office on Raisina Road. Workers of the outfit raised slogans and criticised the BJP-led Centre over rising fuel and cooking gas prices despite falling international crude oil rates. "Under the Modi government, the economic health of the country is in a very bad shape. The price of petrol and diesel is high despite lower rates of crude oil in the international market. An LPG cylinder used to cost Rs 400 during the UPA government and today it has crossed Rs 1,000," a protester told PTI videos. IYC president Uday Bhanu Chib accused the Centre of burdening the people with higher prices to cover for its "economic mismanagement". "On one hand, Modi's friend Trump is slamming ...

India's wholesale inflation increases slightly to 2.38% in February

The inflation was led by acceleration in the prices of manufactured goods categories like food products

What products and services may see their prices change in Budget 2025?

The Finance Minister is expected to prioritise economic growth, domestic manufacturing, and offer relief to consumers in the upcoming budget to address inflation, fiscal consolidation, and job creatio

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

Steady course: Year-end travel plans not hit yet as airfares remain stable

The fares were considered for tickets booked 30 days in advance. Goa remains one of India's most popular destinations for Christmas and New Year celebrations

Commercial LPG prices hiked by Rs 16.5, jet fuel costlier by 1.45%

Jet fuel, or ATF, price on Sunday was hiked by 1.45 per cent and rates of commercial LPG used in hotels and restaurants increased by Rs 16.5 per 19-kg cylinder in the monthly revision done in line with international oil price trends. The aviation turbine fuel (ATF) price was increased by Rs 1,318.12 per kilolitre, or 1.45 per cent, to Rs 91,856.84 per kl in the national capital - home to one of the busiest airports in the country, according to state-owned fuel retailers. This is the second straight monthly increase in jet fuel prices. Rates were increased by Rs 2,941.5 per kl (3.3 per cent) on November 1. That hike came after two rounds of reduction which had taken the rates to their lowest level this year. ATF price on October 1 was cut by 6.3 per cent (Rs 5,883 per kl) and by Rs 4,495.5 per kl, or 4.58 per cent on September 1. The ATF price in Mumbai was increased to Rs 85,861.02 per kl on Sunday from Rs 84,642.91 previously. Oil firms also increased the price of commercial LPG b

Commercial vehicle owners in Mizoram to go on strike over fuel price hike

Commercial vehicle owners in Mizoram have decided to go on an indefinite strike from October 23 demanding reduction in prices of fuel. The price of petrol has been hiked from Rs 93.93 to Rs 99.24 per litre, while the diesel rate has been increased to Rs 88.02 from Rs 82.62 for a litre from September 1. The Mizoram government, after a cabinet meeting, on October 17 announced it would not roll back the hike in fuel prices. Protesting the decision, 11 commercial vehicle owners' associations on Saturday called for the indefinite strike. Initially, the commercial vehicle owners had decided to go on an indefinite strike from October 14 but withdrew their plan after Chief Minister Lalduhoma requested them to be patient and wait till the cabinet meeting on October 16. A statement issued by Mizoram Commercial Vehicle Union (MCVU) said that the meeting of the union held on Saturday decided that all commercial vehicles will remain off the roads for an indefinite period from October 23 as the

Plunging cracks may erode OMCs' supernormal profits, delay fuel price cuts

But low cracks, or net earnings from processing crude into petrol and diesel, have contributed to abysmal refining margins, prompting a rethink on lowering pump prices

India may cut petrol, diesel prices as global oil prices reach 2024 lows

The government last cut petrol and diesel prices by Rs 2 per litre, ahead of the general elections in March 2024

Punjab govt raises fuel VAT, ends power subsidy to tackle fiscal crisis

The Punjab government increased VAT increase on petrol and diesel, raising the tax by 61 paise per litre for petrol and 92 paise per litre for diesel

Pak Prime Minister slashes petrol prices by Rs 8.47, diesel by Rs 6.7

The price of petrol is now Rs 260.96 per litre, while HSD stands at Rs 266.07 per litre. The reduction came ahead of Pakistan's Independence Day celebrations

KSRTC bus fare hike inevitable due to rise in oil prices: Chairman Srinivas

Srinivas also mentioned that a proposal for 40 new Volvo buses has been submitted to the government

BJP holds state-wide protest in K'taka over hike in fuel prices

Karnataka BJP on Thursday held "Cycle Jatha" here, as part of its state-wide protest against the Congress government's decision to hike petrol and diesel prices. BJP workers and leaders led by its state President B Y Vijayendra sought to mark their protest by riding bicycles from the party's state office 'Jagannath Bhavan' to 'Vidhana Soudha'. However, the police stopped the protesters mid-way, detained Vijayendra and others and whisked them away in a bus. Former Deputy Chief Minister C N Ashwathnarayan and MLC C T Ravi were among the leaders who participated in the protest shouting slogans against the state government, which last week hiked sales tax on fuel making petrol and diesel costlier by Rs 3 and Rs 3.5 per litre, respectively. Speaking to reporters, Vijayendra said BJP is holding protests across the state in all the district and talk centres by blocking roads, against the government's decision to increase the prices, and urged the Chief Minister Siddaramaiah to roll it ..

Karnataka BJP stages statewide demonstration against fuel price hike

The opposition BJP in Karnataka on Monday staged a statewide demonstration against the hike in petrol and diesel prices. The Karnataka government on Saturday hiked sales tax on fuel, which will make petrol and diesel costlier. Petrol prices have gone up by Rs 3 per litre and diesel by Rs 3.5 per litre. The agitation took place at all the district headquarters of the state. In Bengaluru, BJP state president B Y Vijayendra led the agitation. He said the protest has been organised against the anti-people stand of the Congress government in Karnataka. He charged that the hike in petrol and diesel prices will have a direct impact on all the sectors. Due to the five guarantees, the state government was in a big financial burden. As a result, lot of development work had come to a halt, he said. "The government realised that stopping the guarantees would result in public outrage. To continue these guarantees, the government did not have money, so it hiked the petrol and diesel prices,"

Hike in fuel prices will ensure funding essential services: CM Siddaramaiah

Karnataka Chief Minister Siddaramaiah on Sunday defended the hike in petrol and diesel prices saying that it will ensure funding essential public services and development projects. With the opposition BJP and its ally JD(S) coming down heavily on the Congress government for increasing the petrol and diesel prices by Rs 3 and Rs 3.5 per litre respectively, Siddaramaiah said even after the hike, taxes on fuel remains low compared to most southern states. "The Government of Karnataka has increased VAT on petrol to 29.84 per cent and on diesel to 18.44 per cent. Even after this hike, our state's taxes on fuel remain lower than most South Indian states and similar economy-sized states like Maharashtra," the Chief Minister said in a statement. According to him, the VAT on petrol is 25 per cent plus Rs 5.12 additional tax, and on diesel in Maharashtra it is 21 per cent. Karnataka's revised rates are still more affordable, he pointed out. "Karnataka's VAT adjustment ensures we can fund ...

BJP set to organise protests across Karnataka against fuel price hike

The BJP will stage protests across Karnataka against the hike in petrol and diesel prices on June 17, the party's state unit president B Y Vijayendra said on Sunday. The Karnataka government on Saturday hiked sales tax on fuel which will make petrol and diesel costlier. Petrol prices have gone up by Rs 3 per litre and diesel by Rs 3.5 per litre. "We urge the Chief Minister to withdraw this decision immediately. Tomorrow we have organised protests across the state and we are not going to keep quiet till the hike is revoked," Vijayendra told PTI here in the district headquarters town of Hassan. He said the protests will take place in all the district headquarters of the state. Vijayendra charged that the 'desperate Chief Minister' hiked the petrol and diesel prices since he is unable to start any new programmes due to the five guarantees. "After the Lok Sabha elections, they (Congress government) have increased fuel prices. This will cost all sections of people in the entire state

Shifting sands: How India's fuel pricing policy evolved over the years

India's progress with decontrol of fuel prices derailed in May 2022-after 12 years, three governments and two reform-driven Prime Ministers-when petrol and diesel rates surged