Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
To understand Trump and Biden, look to Reagan and Carter
As Donald Trump prepares to reverse Joe Biden's climate initiatives, a historical parallel emerges with Ronald Reagan's undoing of Jimmy Carter's environmental policies. Despite setbacks, Carter's advances in clean energy and the EPA have lasting impacts, underlining their importance in the ongoing transition to renewable power and environmental preservation.
Oil rises from two-month highs on optimism over policy support for growth
Oil prices continue to rise, reaching their highest levels in over two months due to anticipated government policies aimed at reviving economic growth worldwide. Lower interest rates and China’s proactive measures are expected to stimulate fuel demand. Additionally, a potential cold snap in the U.S. and Europe may increase diesel demand.
Joe Biden issues major coastal protection before Trump handover
US President Joe Biden has banned offshore drilling across the entire Atlantic and Pacific coasts, as well as parts of the Gulf of Mexico and Bering Sea. This action, aimed at protecting over 625 million acres of waters, is part of efforts to transition to a clean energy economy and address the climate crisis.
IOC shares in focus as co to provide fueling services at Noida International Airport
Under a 30-year concession agreement, IOC will operate fuel stations at three key locations within the airport: near the main western access road for passengers, at the airside for airport operations, and close to the eastern cargo precinct, as reported by ET earlier.
Donald Trump royally frustrated as Joe Biden uses 72-year-old law to give the President-elect a slap in the face
Recent reports have revealed that US President Joe Biden have permanently banned a latest offshore oil and gas drilling at the US coastal waters by using a 72 year old law which eventually includes the entire East Coast. Speculations are on the rise that this certain move by Joe Biden has come as a blow for US President-elect Donald Trump before he is all set to take the office again.
Prices of tomato, potato in bitter taste; home-cooked meals get costlier in December: Report
Prices of home-cooked meals rose in December due to dearer tomato and potato prices. The average cost of preparing a vegetarian thali increased by 6 percent compared to last year. The cost of a non-vegetarian thali rose by 12 percent. Tomato and potato prices surged, while broiler costs also contributed to the increase.
Rising domestic demand for petrol, diesel to offset compressed GRMs in FY26
India Ratings and Research (Ind-Ra) expects GRMs to remain subdued during FY26, similar to H1 FY25, on account of slowing global consumer and industrial demand, particularly in China
India’s refined petroleum product exports rose in October aided by petrol and jet fuel
India’s refined petroleum product exports increased by 20 per cent year-on-year in October 2024, says Xavier Tang, Market Analyst at Vortexa
Nayara Energy to expand retail network by adding a fuel station per day
Nayara Energy plans to add 400 petrol pumps this year, expanding its network of 6,500+ outlets across India. The firm aims to grow its retail presence in states like Gujarat, Maharashtra, Tamil Nadu, and Rajasthan, and invites new dealership applications to boost local entrepreneurship.
Oil hovers at highest since Oct on cold weather, China stimulus
Oil prices reached their highest levels since October as colder weather in the Northern Hemisphere and Beijing's economic stimulus measures boosted global fuel demand. Brent crude futures rose to $76.66 per barrel, while U.S. West Texas Intermediate crude reached $74.18 per barrel.
New e-truck incentive plan may not have many takers
The scheme also allows a consumer who did not previously own a truck to get a scrapping certificate from someone else to avail the incentives while buying. The incentive amount for e-trucks is likely to be announced later this month. Girish Wagh, executive director, Tata Motors, said initiatives like the PM E-Drive provide the much-needed push for EV adoption in the M&HCV segment by "fostering industry confidence and accelerating investments in cleaner technologies."
Petrol, diesel sales soar on holiday travel
India's petrol and diesel consumption soared in December 2024 as holiday travel boosted demand, reversing the fall witnessed in previous months, preliminary data of state-owned fuel retailers showed on Wednesday.
ATF price cut by 1.5%, commercial LPG rates down Rs 14.5 per cylinder
Jet fuel prices were reduced by 1.5 percent and commercial LPG prices by Rs 14.5 per 19-kg cylinder in January. Cooking gas prices for households remain unchanged. The last price cut for petrol and diesel was in mid-March. Prices of ATF and LPG may vary by state. Oil corporations revise fuel prices on the first of each month.
India Inc seeks cut in personal income tax rates, flags dumping by China at pre-Budget meet
Industry bodies have urged the Finance Minister to consider reducing personal income tax rates, lowering excise duty on fuel, and implementing measures to boost employment-intensive sectors in the upcoming budget. Concerns about Chinese product dumping, food security, and inflation due to climate change were also highlighted.
Refex Renewables & Infrastructure arm acquires 51% stake in Vyzag Bio
Refex Renewables & Infrastructure on Monday said its arm Refex Sustainability Solutions Ltd (RSSL) has completed acquisition of 51 per cent stake in Vyzag Bio-Energy Fuel.
Petrol, diesel sales soar on holiday travel
India's petrol and diesel consumption increased in December 2024 due to holiday travel. Petrol sales rose 9.8 per cent and diesel demand was up 4.9 per cent from the previous year. Fuel demand also increased due to agriculture activities. This rise continues the trend of growth seen in November 2024 despite the tepid monsoon months.