Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
States say no to GST on jet fuel
The GST Council meeting saw states opposing the inclusion of ATF under GST. Finance Minister Nirmala Sitharaman announced the states' decision. They prefer ATF to remain part of the crude petroleum diesel basket. The aviation sector's request for GST on ATF was denied. The existing tax structure for ATF will continue.
GST Council meet: Ordering from Swiggy, Zomato may get cheaper; health insurance exemption on cards
The GST Council is set to discuss several changes, including reducing tax on life and health insurance premiums, food delivery platforms, and aviation turbine fuel. It may raise taxes on luxury goods like wristwatches, shoes, and apparel, and introduce a 35% tax for sin goods.
IndiGo, SpiceJet shares in focus as gov to consider inclusion of ATF under GST regime
Shares of aviation companies such as InterGlobe Aviation (IndiGo) and SpiceJet are expected to remain in focus today, as the government may discuss bringing aviation turbine fuel (ATF) under the Goods and Services Tax (GST) regime at the 55th GST Council meeting. This move, if implemented, could have a significant impact on the aviation sector.
Oil falls on demand concerns after Fed signals slower easing ahead
Oil prices dipped in early Thursday trading as the U.S. Federal Reserve signaled a slower pace of interest rate cuts in 2025, potentially curbing fuel demand. Brent crude fell to $73.06 a barrel, while U.S. West Texas Intermediate crude dropped to $70.22. This decline reversed some gains from Wednesday, driven by falling U.S.
Oil prices in holding pattern ahead of Federal Reserve decision
Oil prices remained steady in early Asian trading Tuesday, influenced by concerns about Chinese demand and anticipation of a U.S. interest rate decision. Prices retreated from recent highs following weak Chinese consumer spending data. Investors await the Fed's meeting, expecting a rate cut and insights into future monetary policy.
HPCL signs pact with NLDS for integration of API with unified logistics interface platform
HPCL and NICDC have partnered to integrate HPCL's APIs with the Unified Logistics Interface Platform (ULIP). This integration will provide real-time visibility into HPCL fuel station locations and pricing, enabling logistics providers to optimize operations and reduce costs by improving route planning and minimizing downtime.
Scientists find massive hidden fuel reserve, enough to meet energy needs for two centuries, but there's a catch
A new study reveals vast underground hydrogen reserves, estimated at 6.2 trillion tons, enough to meet global energy needs for two centuries. This challenges previous assumptions about hydrogen's ability to accumulate underground. While extraction methods need development, natural hydrogen offers advantages over produced hydrogen by eliminating storage concerns.
Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist
Airline ticket prices have not kept pace with inflation. Airlines struggle with high costs like jet fuel and administrative fees. They are price takers, facing limited control over both supply and demand. This makes increasing profits difficult. Airlines want to diversify revenue streams. However, small profit margins and weak finances complicate this goal.
Ukrainian drones hit fuel storage area in central Russia, attack other areas
Ukrainian drones launched attacks across several Russian regions, targeting an infrastructure facility with fuel storage in Oryol, causing a fire and damaging nearby homes. Air defenses intercepted drones in Krasnodar and Bryansk, while attacks in Belgorod resulted in minor injuries and property damage.
Diesel, petrol consumption in November hit a 6-month high
Festival season, farm harvest and assembly elections campaigns in Maharashtra and Jharkhand lift auto fuel demand to a six-month high.
ARAI revs up for auto sector's future, retools itself for a new era of testing electric vehicles
ARAI, India's automotive testing authority, is adapting to the electric vehicle revolution. They are enhancing testing for EV safety, battery performance, and range, while still addressing ICE vehicle homologation with alternative fuels like CNG, ethanol, and hydrogen. ARAI collaborates with automakers, ensuring compliance with evolving national and international standards.
Work in progress to reduce air pollution, enhance farm income: Nitin Gadkari
Road Transport Minister Nitin Gadkari outlined government efforts to tackle air pollution, reduce logistics costs, and lower fossil fuel imports. He highlighted projects converting rice straw to fuel, promoting precast construction materials, and developing green express highways. Gadkari also addressed road safety concerns and emphasized his commitment to socio-economic reform.
Reliance, ReNew among 14 firms bid for incentives for green hydrogen production
Fourteen companies, including Reliance and ReNew, have submitted bids for India's green hydrogen transition scheme. The bids total 450,000 tonnes of capacity, vying for a maximum of Rs 5,400 crore in incentives over three years. The scheme aims to boost domestic green hydrogen production and electrolyser manufacturing.
India's non-fossil based capacity rises 14 pc to 214 GW
India's non-fossil fuel based power capacity reached 213.7 GW in November 2024. This is a 14.2% yearly increase. 14.94 GW of renewable energy was added between April and November 2024. Solar capacity reached 94.17 GW. Wind capacity reached 47.96 GW. Nuclear, bioenergy, hydro, and small hydro also contributed to the growth.
Tax on automobiles must be tech agnostic, focus on reducing fossil fuel use, decarbonisation: Toyota Kirloskar Motor
Toyota Kirloskar Motor's Executive VP Vikram Gulati advocates for tax incentives for hybrid vehicles, emphasizing that taxation should align with national goals such as reducing fossil fuel consumption, decarbonization, and promoting "Make in India."
Air passenger numbers to top five billion in 2025: IATA
The International Air Transport Association (IATA) projects over five billion air passengers in 2025, marking a historic milestone. Industry revenues are anticipated to surpass $1 trillion due to decreasing fuel prices. Despite supply chain disruptions and infrastructure issues, profits are estimated at $36.6 billion. However, aircraft delivery delays hinder airlines' efforts to modernize fleets and reduce emissions.