Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
Lumax to acquire majority stake in Greenfuel Energy Solutions
The proposed acquisition will enable the company to enter into the green and alternate fuels segment which is expected to witness strong and accelerated growth in the coming years, Lumax Auto said in a statement.
Fuel aggregator platform Nawgati aims to onboard 20,000 outlets by 2025-end
The company plans to onboard 20,000 fuel pump outlets and extend its app's language offerings.
India's retail inflation at 3.65 per cent in August; stays below RBI's 4 per cent target
India's retail inflation rose to 3.65% in August from a five-year low of 3.54%. Food inflation, making up half of the CPI basket, increased to 5.66%. Despite staying within RBI's tolerance range, it remains above the target of 4%. A weak rupee and monsoon risks may keep inflation pressures high.
Pre-Bharat Stage norm vehicles should be scrapped, says top official
Ministry of Road Transport & Highways Secretary Anurag Jain has advocated for the scrapping of pre-BS era vehicles, particularly commercial heavy vehicles, due to pollution and safety concerns. He highlighted that these older vehicles contribute significantly to pollution and have higher fuel and maintenance costs. The government is working on incentivizing vehicle scrapping.
Petrol, diesel prices may be cut if crude rates stay low for longer: Petroleum Secretary
Petrol Diesel Price Cut: Indians may see relief in petrol and diesel prices if global oil prices remain low. State-run fuel companies may consider reducing prices if the global crude rates stay lower for extended period, Oil Secretary Pankaj Jain said. India is also seeking increased output from OPEC+ and maximizing crude purchases from cost-effective suppliers like Russia.
Current refining margins on fuel unsustainable, will hurt refiners: Oil secretary
Refining margins on fuels have dropped to unsustainably low levels, impacting domestic refiners, especially those without petrol pumps. Oil Secretary Pankaj Jain highlighted the issue, noting that weak fuel demand and higher refinery runs have hurt earnings. Lower crude prices may benefit some refiners but not all.
Nayara Energy sees 14 pc rise in domestic fuel sales, exports drop
Nayara Energy, India's largest private fuel retailer, reported a 14.3% increase in fuel sales for Q2 2024 while exports declined due to rising local demand. The company sold most of its diesel and petrol domestically and expanded its retail network to underserved markets, contributing significantly to India's energy security.
MRPL commissions marketing terminal in Bengaluru
‘The facility aims to enhance the availability and distribution of petroleum products such as petrol, diesel, and ATF in the region’
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Not opposed to petrol & diesel but we need to be more responsible towards environment & citizens: Nitin Gadkari
Union Minister Road Transport and Highways Nitin Gadkari has said that the central government is not against the use of non-renewable fuels but its responsibility towards the people of the country and the environment inspires it to promote electric vehicles (EVs).
BMW plans to bring its first hydrogen car onto the market from 2028
BMW plans to launch its first hydrogen-powered vehicle in 2028, using fuel cell technology developed with Toyota. The vehicle will be an existing model with a hydrogen fuel cell drive option. BMW expects the hydrogen charging infrastructure to be significantly developed by then to support its plans.
Uncovering the dark money: How banks are funding fossil fuels in secret
Research by Tax Justice Network has revealed that trillions of dollars in bank finance for fossil fuel companies are being channeled through opaque financial centers, including the Netherlands. The study examined $6.9 trillion in syndicated financing from 60 global banks between 2016 and 2023, highlighting a lack of transparency in funding energy companies.
Efforts on to make India a global aviation hub, manufacture aircraft: Naidu
Union minister K Rammohan Naidu announced efforts to make India a global aviation hub and start manufacturing aircraft. Speaking at the Asia Pacific Ministerial Conference on Civil Aviation, he highlighted infrastructure, integration, and innovation as key growth elements. The number of operational airports in India has grown significantly since 2014.
Donald Trump shrugs off global warming worries, says 'that is not our problem' in latest remarks
US Presidential Election 2024: Former US President Donald Trump has dismissed concerns about climate change, claiming that rising sea levels are not a pressing issue. He emphasized the threat of 'nuclear warming' instead. Trump's stance contrasts sharply with the current administration's climate policies and suggests a potential rollback of environmental regulations if he is re-elected.
Oil prices jump $1 on Gulf Coast storm, post selloff recovery
Oil futures surged by a dollar on Monday as a potential hurricane approached the U.S. Gulf Coast, and markets rebounded from a selloff due to weak U.S. jobs data. West Texas Intermediate crude rose 1.48% to $68.67 a barrel, while Brent crude increased 1.39% to $72.05 a barrel.
Aim to shift a third of trucks to LNG in 5-7 Years: Oil Ministry
The Indian government aims to have liquefied natural gas (LNG) power a third of the country's long-haul heavy-duty vehicle fleet within 5-7 years, with plans to use domestic gas for this initiative. The proposal includes stabilizing LNG prices by allocating 0.5 million metric standard cubic meters per day of domestic gas for the next three years, sufficient to support 50,000 trucks.