Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
Rajputana Biodiesel shares debut at 90% premium over IPO price on NSE SME platform
Shares of Rajputana Biodiesel debuted at a 90% premium, listing on the NSE SME platform at Rs 247. The Rs 25 crore IPO saw immense interest with over 700 times subscription. Proceeds will be used for various corporate needs. Rajputana manufactures bio-fuels, intending to explore export opportunities and align with India's blending targets.
Govt scraps windfall tax on petrol, diesel exports; big relief for Reliance, ONGC
The government has abolished the windfall tax on aviation turbine fuel, crude products, petrol, and diesel after extensive deliberations. This decision is a relief for oil giants like Reliance and ONGC. The levy, introduced in July 2022 due to rising global crude prices, had aimed to capture revenue from producers' windfall gains. This move shall benefit the refining margins significantly.
ATF price hiked 1.45%, commercial LPG up ₹16.5 per cylinder
This is the second straight monthly increase in jet fuel prices; Rates were increased by ₹2,941.5 per kl (3.3 per cent) on November 1
Petrol, diesel sales rebound on festival demand
India's petrol and diesel consumption soared in November as the festive season reversed a fall in demand witnessed in previous months, preliminary data of state-owned firms showed on Friday.
Diesel breaks stagnation, grows 8.4% in Nov
Diesel sales grew 8.4% year-on-year in November, ending a period of stagnation this fiscal. Petrol sales rose 9.2%, jet fuel increased by 7.7%, and LPG saw a 7.3% growth. The rise in diesel sales was supported by the sowing season, elections, and new vehicle sales.
Alternative fuels key to making India self-reliant: Nitin Gadkari
Minister Nitin Gadkari emphasizes the importance of switching to biofuels and electric vehicles for sustainable development. India's transport sector heavily contributes to air pollution, and significant fossil fuels are imported annually. Initiatives like bio-CNG projects and municipal waste-to-bio-CNG projects are promoting a green economy, creating jobs, boosting exports, and making India self-reliant.
India’s crude oil imports to rebound in November as refinery runs surge: Kpler
October imports had fallen to 4.34 Mb/d, the lowest in over a year.
Finance Ministry to review efficacy of windfall tax on crude oil and fuel exports
The Finance Ministry would review the efficacy of windfall tax on the export of petrol, diesel and Aviation Turbine Fuel (ATF) as global crude oil prices have stabilised, sources said. Phenomenal profits made by some oil refiners on exporting fuel at the expense of domestic supplies had prompted the government to introduce an export tax on petrol, diesel and ATF in July 2022.
Climate summit hypocrisy: The disconnect between promises and reality in global emissions
Climate summits have failed to achieve emission cuts. A new approach focusing on green energy R&D can provide a better solution. Trump's election may lead to a shift away from costly policies. The global transition to green energy is not keeping pace. Investment in green innovation is necessary to make renewable energy affordable and drive global economic growth.
'Everything is expensive!' Bolivia faces a shocking economic collapse
Bolivia Fuel Crisis: Bolivia struggles with fuel scarcity. Long lines at gas stations are common. The country's foreign currency reserves have dropped. Food prices are rising. Citizens protest against President Arce. The economic crisis impacts daily life. Farmers face difficulties. The government promises solutions. Public anger grows ahead of the 2025 election.
Delhi's Transport Dept. plans strategy to tackle traffic, boost eco-friendly fuels
Delhi's transport department is tackling traffic and pollution with a four-pronged strategy. This includes congestion pricing during peak hours at city entry points, creating vehicle-restricted zones, transitioning municipal vehicles to electric power, and enforcing BS6 or electric truck standards. Revenue from congestion charges will fund public transport and infrastructure improvements.
Study traces 60 pc PM2.5 pollution in India to residential cooking, power generation, industries
A new study reveals that up to 60% of India's PM2.5 pollution originates from residential, power generation, and industrial emissions, with 80% attributed to fossil fuels. The study proposes dividing India into 15 airsheds for targeted interventions, highlighting the Indo-Gangetic Plains and the plateau region as critical areas demanding coordinated air quality management.
COP29: Clean power must offer more hope to wean nations off fossil fuels
Rich nations struggle to offer compelling alternatives, highlighting the need for a substantial global investment in clean energy for developing countries.
How Trump's proposed tariffs might affect commodities and energy
President-elect Trump proposed tariffs on Canada, Mexico, and China, impacting oil, gas, agriculture, and manufacturing. The U.S. significantly relies on these countries for energy and agricultural imports, potentially increasing fuel and food costs. Key imports include Canadian oil and gas, Mexican produce, and potash.
Oil prices steady amid focus on Israel-Hezbollah ceasefire, OPEC+ policy
Oil prices held steady following a ceasefire agreement between Israel and Hezbollah. OPEC+ considered delaying planned oil output increases. US crude stocks declined, while fuel inventories rose. A potential 25% tariff on Mexican and Canadian imports, including crude oil, was announced by then US President-elect Donald Trump. These factors influenced market dynamics.
Amara Raja Infra sets up India's first green hydrogen fuelling station in Leh
Amara Raja Infra completed India's first green hydrogen fuelling station in Leh, built for NTPC Ltd. The station, inaugurated on Sunday, produces 80kg of green hydrogen daily and will power five hydrogen fuel cell buses, promoting emission-free transport in the challenging high-altitude terrain. This project marks a significant step in India's National Hydrogen Energy Mission.