Page 7 - Petrol

Govt slashes windfall tax on petrol, diesel, ATF as crude oil prices drop

Effective from July 20, Rs 6 a litre tax on petrol export has been completely scrapped

Fuel demand in India declines in July so far adding to oil's gloom: Report

The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period in June, according to refinery officials with knowledge of the matter

Warren Buffett's Berkshire Hathaway buys more Occidental Petroleum shares

Warren Buffett's Berkshire Hathaway now controls nearly 20% of Occidental Petroleum's stock after picking up another $250 million worth of shares of the oil producer this week

Focus on windfall tax review leads to oil stocks ending in the green

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

IOC, BPCL, HPCL may post Rs 10,700-cr combined loss in Q1: Report

ICICI Securities said the companies are losing Rs 12-14 per litre on petrol and diesel, completely offsetting the strong refining performance during the quarter

Green fuel will end need for petrol in India after five years: Gadkari

Union minister Nitin Gadkari has expressed confidence that green fuel will end the need for the use of petrol in vehicles in the country after five years

Oil India, ONGC tank up to 33% in 1 week on windfall tax, fall in Brent oil

Oil India was down 8 per cent at Rs 176, while ONGC shed 6 per cent in traes on Wednesday.

Govt slaps export tax on petrol, diesel; windfall tax on domestic crude oil

The government on Friday slapped a Rs 6 per litre tax on exports of petrol and ATF and Rs 13 per litre on exports of diesel

Sri Lankan cabinet permits companies to import fuel as crisis worsens

The country ran out of fuel as only 1,100 tonnes of petrol and 7,500 tonnes of diesel are left, which are not sufficient to last for a day.

7 out of 9 neighbouring nations charge less for petrol than India

Among the neighbouring countries, China (Rs 116 per litre) and Nepal (Rs 124 per litre) had a higher price.

Sri Lanka stops fuel supply to non-essential services as crisis worsens

Fuel stocks set to run out in days without curbs; supplies only to essentials from Tuesday untl July 10; regulator hopes to keep power cuts at 3-4 hrs every day for 2 months

Private players seek govt intervention as fuel shortage rises in India

FIPI says companies are suffering a loss of Rs 20-25 a litre on diesel and Rs 14-18 a litre on petrol at present due to the non-revision of prices

Selling diesel at Rs 20-25/ltr loss, petrol at Rs 14-18/ltr loss: Retailers

Selling diesel at Rs 20-25 a litre below cost and petrol at Rs 14-18 per litre below cost, an industry body representing private fuel retailers like Jio-bp and Nayara Energy has told the Oil Ministry

Sri Lanka's economic activity grinds to a halt as fuel supplies run dry

Amidst fuel crisis in Sri Lanka, the government declared Friday a holiday for public offices and schools to curtail vehicular movement, leaving many roads in and around the capital Colombo deserted

ATF prices hiked by 16%, touch new record, as global crude prices soar

The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- has been increased by Rs 19,757.13 per kilolitre, or 16.26%, to Rs 1,41,232.87 per kl (Rs 141.2 per litre) in Delhi

Pakistan steeply hikes fuel prices up to 29% to secure IMF funding

The new petrol price has been fixed at Rs 233.89 per litre, HSD at Rs 263.31 per litre and kerosene oil at Rs 211.47 per litre.

Production of petrol, diesel sufficient to take care of demand surge: Govt

Sufficient supplies of petrol and diesel are being made available to cater to the extra demand, says Ministry of Petroleum & Natural Gas

India's petrol, diesel sales jump in first fortnight of June

Diesel, the most-used fuel in the country, saw sales jumping 47.8 per cent year-on-year to 3.4 million tonnes between June 1-14.

Petrol prices in Pakistan rise by PKR 60 in a week, hit record levels

The prices of petroleum products in Pakistan have risen by a massive PKR 60 per litre in about a week taking them to record levels

India turns 10% of its petrol green; targets to double it by 2025-26

India has achieved the target of supplying 10 per cent ethanol-blended petrol ahead of schedule and is aiming to double blend by 2025-26 in order to cut oil import dependence