Latest Fuel News

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

Believe it or not: Even in Saudi Arabia, renewable power is cheaper than fossil fuels

Saudi Arabia has signed deals to purchase electricity from two large-scale wind farms at record-low prices, cheaper than natural gas plants. The kingdom aims to shift rapidly to a larger share of renewables in the power grid, with the goal of generating half of its power from clean sources by 2030. The projects, developed by Japan's Marubeni Corp, benefit from state backing and favorable wind conditions in the country, making them more cost-effective than fossil fuel alternatives. The country's move towards renewable energy is part of Crown Prince Mohammed Bin Salman's efforts to diversify the economy away from oil dependence.

Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return

Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return. Premiumization trend drives shift to 'premium' vehicles. UV mix in PVs at 60% in FY24. 125cc+ segment in motorcycles at 52% in FY24. Social media influences rural trends. Finance accessibility boosts premiumization. India targets net zero emissions by 2070, promoting EVs and biofuels.

India, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April, LSEG data shows

Crude oil Import: In April, India and Egypt were key destinations for Russian seaborne fuel oil and vacuum gasoil exports, with a total 10% decrease in exports due to maintenance and outages. The EU's embargo redirected Russian exports to Asia. Shipments to India rose while those to China decreased. Egypt saw increased fuel oil supplies for power generation.

Diesel, petrol export revenues dip 20% to $33 bn in 2023-24

India's exports of diesel and petrol fell by a fifth year-on-year to $33 billion in 2023-24 due to declining international prices. Diesel generated the largest share of export revenues for Indian refiners, accounting for $22 billion of the $48 billion earned by exports of refined fuels. The war in Ukraine and Western sanctions on Russia caused fuel prices to rise, boosting export earnings for Indian refiners.

Delhi man's viral video raises concerns over petrol pump fraud

Cases of fraud at petrol pumps, including tampering with machine settings, have sparked outrage online. A recent viral video shows a Delhi man alleging fraud at a petrol pump in Sadiq Nagar. The post, shared on X, has garnered over 550k views, leading to calls for government action. Commenters shared their own experiences and called for stricter regulations and audits in the fuel industry. Netizens expressed outrage and concern over the incidents, highlighting the need for increased scrutiny of petrol pump operations.

Car sales & summer heat fuel petrol demand in April

Sales of petrol by state-run fuel retailers rose 12.3%, showed provisional data sourced from state-run companies. This is lower than the overall increase of 14% for the industry, indicating market share expansion for private players. Similarly, diesel sales by state-run companies fell 2.3% against an overall 1% rise for the industry in April. ATF and LPG sales by state-run companies expanded by 7% and 12%, respectively, in April.

Armed group attacks trucks on NH 37 in Manipur, one driver injured

Suspected attackers intercepted petrol and LPG tankers traveling along NH-37, in Manipur’s Tamenglong district. Sources said that around 10.30 am attack was launched causing substantial leakage of liquefied petroleum gas (LPG), petrol, and diesel onto the roadside drains. Tires were flattened.

"Petrol bomb attacks won't be repeated" assures Meghalaya CM Conrad

Meghalaya Chief Minister Conrad K Sangma has pledged to prevent further petrol bomb attacks in Shillong after a recent spate of incidents. The government is working to ensure such violence doesn't happen again, with police taking steps to make arrests based on evidence. Seven attacks have occurred in less than a month, sparking fears of escalating violence. The CM emphasized the government's commitment to arresting those involved and maintaining law and order. High-profile figures, including Major General (retd) Rajesh Kumar Jha and the Deputy Chief Minister, have been targeted in these attacks, highlighting the seriousness of the situation.

Petrol bomb thrown at Meghalaya Deputy Chief Minister Sniawbhalang Dhar's residence

His house is situated in Nongmynsong within the East Khasi Hills district. He lodged a First Information Report (FIR) which led to an increase in security in and around his property. Recently, individuals on motorcycles threw a petrol bomb at a police vehicle that was escorting Director of NEEPCO (Personnel) Major General (retired) RK.

Tripura government imposes restriction on sale of petrol, diesel

Tripura govt restricts fuel sale due to disrupted train movement. Restored passenger service, but goods train halted in Jatinga, Assam. Fuel rationing in place with daily vehicle limits. Restoration progress ongoing in Assam's Jatinga.

Petrol sales up 7%, diesel declines 9.5% in April

In the first half of April, India's petrol consumption surged by 7%, reaching 1.22 million tonnes, compared to 1.14 million tonnes during the same period last year. However, diesel sales witnessed a decline of 9.5% to 3.14 million tonnes. This rise in petrol sales can be attributed to increased use of personal vehicles following a price cut, along with the crop harvesting season and the onset of summer.