Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
After 13 years, Delhi govt increases PUC certificate charges
Gahlot said the charges of PUC certificates for diesel vehicles has been revised from ₹100 to ₹140
Retail inflation for industrial workers eases to 3.86 pc in May
In May 2024, retail inflation for industrial workers in India eased to 3.86%, down from 4.42% a year earlier. The Consumer Price Index-Industrial Workers (CPI-IW) rose by 0.5 points to 139.9 points, compared to 139.4 points in April 2024. The food and beverages group increased to 145.2 points from 143.4 points in April, while the fuel & light segment decreased to 149.5 points from 152.8 points. The Labour Bureau compiles these indices based on retail prices collected across 317 markets in 88 industrially significant centers nationwide.
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Signs of a turning point in humanity’s fossil fuel addiction are everywhere, from evidence that China’s emissions are peaking this year, to the ongoing failure of crude oil output to climb above levels it hit in 2018.
Tata Motors, M&M slash prices of select SUVs. Check models and discount
Tata Motors and Mahindra & Mahindra have announced significant discounts on their popular SUVs in India, amid weakening demand and rising inventory. M&M has offered over Rs 2 lakh on its AX7 variants for the next four months, starting at Rs 19.49 lakh. Tata Motors has also reduced prices by up to Rs 70,000 on select models and up to 1.4 lakh on its range of fossil fuel and EV SUVs.
Untether the fuel nozzle: What India's oil & gas sector needs from Modi 3.0
When Narendra Modi took office as Prime Minister in 2014, he set clear goals for the oil and gas sector, leading to significant achievements over the past decade. His administration's strong policy support and close oversight have ensured nearly universal access to cooking gas, expansion of petrol pumps and gas distributors, growth in natural gas pipelines and LNG import capacity, an increase in ethanol blending, and a reduction in fuel subsidies.
Oil rebounds as U.S. stockpiles drop, interest rate cut outlook brightens
Oil prices rebounded due to falling U.S. crude stockpiles and rate cut hopes. WTI and Brent futures rose. Investors anticipate economic growth from rate cuts. Powell's comments and limited Texas energy issues post-Hurricane Beryl supported prices. API and EIA foresee higher demand. Crude stocks fell by 1.923 million barrels on July 5. Gasoline inventories also decreased as ports reopened.
India's June fuel demand edges up 2.6%
Total consumption totalled 19.99 million metric tons in June, up from 19.48 million tons last year, data showed. Demand was down 3.5% on a monthly basis from the 20.72 million metric tons consumed in May. Sales of diesel, mainly used by trucks and commercially run passenger vehicles, fell 5% month-on-month to 7.98 million tons in June.
Crude oil prices at two-month highs. What is causing the surge?
Crude oil prices rose 6% in June due to OPEC+ production cuts and US summer fuel demand. WTI, Brent, and MCX futures gained. Geopolitical risks, hurricanes, like Hurricane Beryl, influenced prices. Energy agencies predict slower oil demand growth and surplus amid energy transitions. China's and India's demand are key. Fed rate cut decisions also impact oil markets.
Can the Labour Party bring back Britain’s green groove?
In the context of Britain's political landscape and its climate ambitions, Keir Starmer, poised to become the next prime minister, has positioned the Labour Party as advocates for transforming the nation into a "clean energy superpower." This aspiration marks a significant departure from Britain's historical role as a major contributor to climate pollution, stemming from its origins in the Industrial Revolution fueled by coal.
Oil settles 1% lower as Mideast ceasefire talks ease supply disruption concerns
The head of Israel's Mossad has returned from Doha after an initial meeting with mediators trying to reach a Gaza ceasefire and hostage release deal, and negotiations will resume next week, Prime Minister Benjamin Netanyahu's office said on Friday.
Bajaj Auto launches world's first CNG bike, Freedom 125. Check price, mileage and other features
India's Bajaj Auto has launched the world's first compressed natural gas (CNG)-powered two-wheeler, the Freedom 125, in Pune. The entry-level vehicle, likely priced at Rs 95,000, aims to shake up the motorcycle market. CEO Rajiv Bajaj praised the bike as an avatar of freedom and freedom from petrol. Key features include telescopic front forks, mono-link suspension, front disc and rear drum brake setup, and a 125cc engine.
Bajaj Auto launches world’s first CNG-powered bike
The Bajaj Freedom CNG motorcycle offers significant fuel cost savings, potentially reducing expenses by around 50% compared to petrol motorcycles
PESO working on safety template to allow petrol pumps within 30-50 meters of habitation
This is to be done in consultation with the Central Pollution Control Board (CPCB) and Ministry of Petroleum and Natural Gas (MoPNG), per an official release issued on Thursday
Oil prices on track for fourth straight week of gains
Oil prices stabilized in Asian trade, set for a fourth week of gains amid strong U.S. summer demand and supply concerns. Brent and WTI prices rose. Russia's Rosneft and Lukoil to cut July exports. Saudi Aramco lowered Asian prices. Sentiment boosted by geopolitical tensions, a 12.2 million barrels draw, potential Fed rate cuts, and the Gaza conflict.
Budget 2024: Will govt retain focus on LPG subsidy to keep the cooker burning in rural India?
Union Budget 2024: The Modi-led government is likely to allocate Rs 9,000 crore for the LPG subsidy to beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) in the upcoming Budget, according to a report by ET Now citing sources. This move continues the government's focus on providing subsidies under the Ujjwala Yojana scheme, primarily benefiting women.
India's solar output grows at slowest pace in six years in first half of 2024
Solar power generation in the third-largest producer of electricity from the sun rose to 63.6 billion kilowatt-hours (kWh) in the first half of 2024, the data showed, up 14.7% compared with the same period last year and 18.5% in the calendar year 2023. The world's fastest growing major economy has prioritised coal to address a surge in power demand in recent years.