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Petrol and Diesel Price Today: Changes in petrol and diesel costs are implemented at 6 am every day.
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Petrol sales dropped 10.5 per cent to 1.25 million tonnes during the first half of July 2023, when compared with the same period last year.
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The public sector oil marketing companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) change the prices daily in line with international benchmark prices and forex rates.
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Fuel price cut, OMCs share price NSE BSE: Stocks of these companies in the recent past have climbed sharply amid benign crude rates, which have led to improved auto fuel marketing margins for these entities.
Prices differ from State to State depending on the incidence of local taxes
Imports also increased by 10.25% to $54.09 billion in the month under review from $49.06 billion in April 2023 due to a significant jump in gold imports
Petrol and diesel prices have been reduced by ₹15.3 per litre in Andrott and Kalpeni islands and ₹5.2 a litre for Kavaratti and Minicoy in Lakshadweep islands - Oil Ministry
The three state-owned fuel retailers - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) - last week cut petrol and diesel prices by ₹2 a litre each, ending a nearly two-year hiatus in price revision
The idea is to expand industries such as electric vehicles and renewables, where China commands a lead
The Ministry of Petroleum extends OALP bidding round IX to May 15, offering 8 blocks spanning various basins and depths.
Analysts wary of price control impact on industry
The last reduction in the prices of auto fuels was through a cut in excise duty in November 2022
India’s February oil demand rises 2.4% YoY, led by gasoil and gasoline; expected to grow 206,000 b/d in 2024
Petrol, diesel consumption in March second highest on record, while jet fuel usage at all time high high.
All the three companies posted the highest ever standalone as well as consolidated net profit in FY24
Both diesel and petrol usage reached record highs, indicating the country’s growing industrial base and escalating need for personal and commercial mobility
Premium is the top consideration while picking insurance, claims a recent ICICI Lombard survey on electric vehicles.
Maruti Suzuki India executive emphasizes strong hybrids over fossil fuel-powered models and pure electric vehicles (EVs) for auto industry sustainability.
IATA highlights India's potential for Sustainable Aviation Fuel production to reduce carbon emissions. The organization plans to launch the SAF Registry in 2025, supported by various stakeholders like Hemant Mistry.
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.
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.
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 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 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.
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.
BYD in China launches latest plug-in hybrid technology achieving record low fuel consumption of 2.9 litres per 100 km. Unveiled by Chairman Wang Chuanfu in Xian, Shaanxi province, site of BYD's first automaking factory.
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.
Oil prices rose on expectations of production cuts by major producers at a meeting this Sunday as fuel consumption is set to increase with the start of the peak summer demand season.
Toyota plans to introduce lean compact engines running on green fuels like hydrogen and bioethanol, paired with electric motors in hybrids. The company aims to push the world into carbon neutrality with optimized engines for the electrification era.
Reliance-BP and Shell-MRPL, the two private sector joint ventures, have made extraordinary gains in a year, taking their combined market share in the ATF market to 10.3% in April from 6.3% in the same month last year, according to industry data.