Page 8 - Fuel Prices

Fuel pumps go on indefinite strike in Rajasthan against high VAT

The Rajasthan Petroleum Dealers' Association (RPDYA) s demanding the state reduce its tax on fuel to match that of its neighbouring states

Gas prices likely pushed up inflation in Aug, other costs probably slowed

A sharp increase in gas prices likely pushed inflation higher in August compared with a year ago, yet a measure excluding energy and food costs is expected to fall for the fifth straight month, suggesting that the Federal Reserve's interest rate hikes are still bringing down prices for many goods and services. The consumer price index is projected to have increased 3.6% last month from a year earlier, according to economists' forecasts compiled by data provider FactSet. The increase would be up from 3.2% in July, though still far below the peak of 9.1% in June 2022. Yet core prices, which exclude food and energy and are monitored closely by the Federal Reserve, are likely to cool to 4.3% in August from a year ago, down from a 4.7% annual pace in July. The Fed follows core prices because they can provide a better read on where inflation is headed. If the forecasts are accurate, such data will likely fuel optimism that inflation is coming under control, despite the rise in gas prices,

Afghan drivers criticise fuel price hike, call on Taliban to pay attention

"A lot of northern oil used to be imported to Kabul, now that Salang highway is closed, the imports have decreased," said Shafiq a fuel seller

Govt likely to focus on motor fuel prices ahead of 2024 polls: Citigroup

The government's decision to reduce liquefied petroleum gas could lower inflation by around 30 basis points, economists Samiran Chakraborty and Baqar M. Zaidi said in a note

First year of FTA with UAE: India's fuel exports grow faster than non-fuel

The trade deal is expected to benefit almost 90 per cent of India's exports, in terms of value

Tresa Motors unveils first electric truck Model V0.1 for global market

The launch aims to showcase Tresa Motors' commitment to transitioning India into a global force commercial vehicle industry

Govt wants petrol & diesel prices slashed; OMCs cite Covid losses

Executives of state-owned firms disagree with view, say they are yet to make up for losses

Transparent pricing

Petrol pump prices need to be reviewed

Renewable energy to rise owing to solar power, high fuel prices: Report

The rollout of solar and wind power installations, which are anticipated to reach 440 gigawatts in 2023, has been boosted by high fossil fuel prices, the report said

India's fuel price paradox: Global prices lower but pump rates still high

Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers

Petrol, diesel prices remain largely unchanged, check prices in your city

It is important to note that Oil Marketing Companies review and decide the fuel prices every day at 6 am in the morning

Surprise oil output cut by OPEC+ to delay price revision in India

The surprise decision of OPEC and its allies, including Russia, to cut oil output may cause an immediate rise in prices, delaying revision in fuel prices in India, industry sources said. The grouping of Organisation of Petroleum Exporting Countries (OPEC) and its allies, called OPEC+, on Sunday decided to further cut oil output by around 1.16 million barrels. The move led to Brent rising by almost 6 per cent to USD 84.58 per barrel on Monday. This spurt will reverse the softening in rates witnessed in the basket of crude oil that India imports. The Indian basket was hovering in the range of USD 73-74 per barrel for most of the second half of last month and had brightened prospects of a cut in petrol and diesel prices. "Public sector oil companies had been recouping losses they incurred for holding rates when crude oil prices shot through the roof. Last month, international oil prices and retail pump rates had come at par. But now with the prices rising, the difference between cost

Fuel price hike comes into effect, UDF observes 'black day' in Kerala

Opposition Congress-led UDF observed 'black day' on Saturday with protests held against the Left government across Kerala as the state budget's proposal to levy cess on fuel and liquor among other tax hikes came into effect from today. The opposition front also announced that it would stay away from the anniversary celebrations of the second Pinarayi Vijayan dispensation, which begins today, as part of demonstrations against its various "anti-people" policies along with "unjustified and unscientific" budget proposals. Wearing black badges and holding black flags in their hands, several UDF activists took out marches in various panchayats and municipalities. Leader of Opposition V D Satheesan charged that an additional tax burden of Rs 5,000 crore has been imposed upon people because of the "mismanagement" and "negligence" of the state government. Besides the imposition of the fuel cess, power tariff and water tax have also been increased by the government, making the life of common

Pricing pressure

Gas pricing needs a long-term perspective

Europe steps up rollback of Russia energy ties with ban on diesel import

Europe is taking another big step toward cutting its energy ties with Russia, banning imports of diesel fuel and other products made from crude oil in Russian refineries. The European Union ban takes effect February 5 following its embargo on coal and most oil from Russia. The 27-nation bloc is trying to sever its last uses of Russian energy and stop feeding the Kremlin's war chest as the anniversary of the invasion of Ukraine nears. The newest ban has risks: Diesel prices have already jumped since the war started on February 24, and they could rise again for the fuel that is key to the global economy. We're leaving money on the road to provide our services, said Hans-Dieter Sedelmeier of the family-run German bus and travel company Rast Reisen. Most things people buy or eat are transported at some point by trucks, which mostly run on diesel. It also powers farm equipment, city buses and industrial equipment. The higher cost of diesel is built into the price of almost everything, .

Pakistan govt goes for a steep hike in petrol and diesel prices

After the rise, the price of petrol was set at Rs 249.80 per litre

Europe set the bar on Russian gas high enough to leave India unaffected

The impact of the gas price cap on India may, however, be muted as the EU, fearing disruptions to domestic gas supplies in winter, set the bar very high

Tata Power seeks regulator nod to raise tariffs and offset fuel cost surge

A spike in coal prices has increased cost of generation

Six non-BJP ruled states have not reduced VAT on petroleum products: Puri

Six non-BJP ruled states -- West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand -- have not reduced the VAT on petroleum products, leading to higher prices of petrol and diesel there, Petroleum Minister Hardeep Singh Puri said on Thursday. Puri said in Lok Sabha that the central government has reduced excise duty on petroleum products and some other states, following cues, reduced their Value Added Tax (VAT). Six states -- West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand -- have not reduced the VAT, he said amidst vocal protests by the opposition members. "Some of them are charging VAT at the rate of Rs 17 and other non-BJP states are charging at Rs 32. So, there is a differential. When the member was saying that today the cost of petrol is Rs 100 per litre in some places -- in some places which are non-BJP states -- and in other states, it is Rs 8-10 cheaper," he said. The minister said, currently the petrol price in India is one of the

Oppn walkout over rising petrol, diesel prices; Puri asks them to cut VAT

Dissatisfied with petroleum minister Hardeep Puri's reply on increasing prices of petrol and diesel, opposition parties staged a walkout from Lok Sabha