Latest Fuel News

Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.

OPEC+ says goodbye to its $100-a-barrel oil quest

The OPEC+ cartel appears to be shifting away from its pursuit of $100-a-barrel oil, announcing a deal to gradually increase production through 2025. This move could lower oil prices and ease global inflation, impacting market dynamics and Saudi Arabia's financial outlook as it seeks to balance grandiose spending plans with declining oil revenues.

Govt cuts windfall tax on petroleum crude

The Indian government has cut the windfall tax on petroleum crude to 5200 Indian rupees ($62.33) per metric ton from 5700 rupees, with effect from June 1, according to a notification issued on Friday.

Windfall tax on crude slashed to ₹5,200/tonne

Centre slashes windfall gains tax on domestically-produced crude to ₹5,200 per tonne from ₹5,700 per tonne effective June 1, 2024. No change in export duty on petrol, diesel, and ATF.

Maruti Suzuki cuts its models' prices; makes ASG variants 'more affordable'

Maruti Suzuki India announced a price reduction for several models in its Auto Gear Shift (AGS) lineup, including Alto K10, S-Presso, Celerio, Wagon-R, Swift, Dzire, Baleno, Fronx, and Ignis. Effective immediately, prices have been reduced by Rs 5000 across models, aiming to make AGS variants more affordable and boost sales.

India to increase road toll charges from Monday

India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country's general elections. Toll charges in India are revised annually in line with inflation, and highway operators have announced hikes of 3% to 5% at nearly 1,100 toll plazas starting Monday.

Amid rising temperatures, will India embrace solar cooking once again?

As temperatures in India continue to rise, the idea of solar cooking is gaining renewed interest. Historically, solar cooking has been explored as a sustainable alternative, with early experiments by scientists and notable figures like Dr. Rajendra Prasad and Manindra Kumar Ghosh. Despite initial enthusiasm, the technology faced setbacks due to inefficiency and lack of user consultation.

New RuPay credit card on UPI launched: Attractive reward points on online, UPI, offline transactions; lifetime free, other features

IndusInd Bank and Poonawalla Fincorp have launched a co-branded RuPay Platinum Credit card. This card offers reward points on everyday spending on e-commerce websites, including UPI transactions and point-of-sale machine transactions. It has no joining and provides benefits like movie ticket offers and fuel surcharge waivers. All you need to know about IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card.