Oil prices at 7-month low, but no change in petrol, diesel prices in India
NEW DELHI: International oil prices have hit a seven-month low but there is no change in retail selling price of petrol and diesel in India as state-owned fuel retailers recoup losses incurred for holding rates for a record five months despite rising cost. International benchmark Brent crude fell below USD 90 per barrel last week […]
Petrol, diesel prices hiked; more to come as crude nears $80/barrel
NEW DELHI: Petrol price on Tuesday was hiked by 20 paise per litre and diesel by 25 paise as international oil prices neared USD 80 per barrel mark for the first time in three years. The price of petrol was hiked to Rs 101.39 a litre in Delhi from Rs 101.19 and to Rs 107.47 per […]
India hikes excise duty on petrol by record Rs 10 diesel by Rs 13
NEW DELHI: The government of India on Tuesday evening hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel to garner Rs 1.6 lakh crore additional revenue as it repeated its time-tested formula of not passing on gains arising from a slump in international oil prices. […]
Petrol, diesel demand slumps 66%; ATF down 90% as coronavirus lockdown hurts business
NEW DELHI: Demand for petrol and diesel is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said. India’s fuel consumption slumped as a nationwide coronavirus lockdown halted economic activity and travel, which eviscerated demand. In April 2019, […]
Five per cent VAT on liquor, petrol and diesel in Madhya Pradesh
BHOPAL :In view of extensive damage caused by heavy rains in Madhya Pradesh, the state government on Friday decided to impose five per cent VAT on liquor, petrol and diesel to generate additional revenue, said an official. The state suffered an estimated loss of Rs 12,000 crore due to excessive rains this monsoon, a senior […]
Petrol, diesel to be costlier; tax on super-rich, gold imports
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles. Presenting […]
Petrol, diesel prices on the rise again
NEW DELHI: Within a day of the one-off excise duty cut and PSUs subsidising fuel, petrol and diesel prices are on the rise again and have hit a three week high. Petrol and diesel prices were cut by a minimum Rs 2.50 on October 5 when the government’s only second cut in excise duty of […]
Petrol, diesel prices cut by Rs 2.50 after excise reduction; oil cos absorbing Re 1
NEW DELHI: The government of India on Thursday announced a Rs 2.50 a litre cut in petrol and diesel prices, factoring in excise duty reduction of Rs 1.50 per litre and asking oil companies to absorb another Re 1. Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 […]
Petrol crosses Rs 91 mark, LPG above Rs 500
NEW DELHI: Petrol price on Monday crossed the Rs 91-mark in Mumbai while domestic cooking gas LPG rates breached the Rs 500-level for the first time ever as oil at four-year high pushed fuel prices to new all-time high across the country. Petrol prices were hiked by 24 paise per litre and diesel by 30 […]
Petrol, diesel rates scale new highs
NEW DELHI: After a one-day hiatus, petrol and diesel prices on Tuesday were hiked again to new highs. While rates were not changed on Monday, a 10 paise per litre hike in petrol price and a 9 paise a litre increase in diesel was effected Tuesday, according to a price notification of state-owned oil marketing […]
Petrol, diesel rates scale new highs
NEW DELHI: Petrol and diesel prices Friday scaled new highs as rates were increased on account of rupee depreciation and rise in international oil rates. While petrol price was increased by 28 paise a litre, diesel rates went up by 22 paise, according to a price notification of state-owned oil marketing companies. Petrol in Delhi […]
After Rajasthan, Andhra Pradesh announces Rs 2 cut in VAT on petrol & diesel
AMRAVATI: After poll-bound Rajasthan, the Andhra Pradesh government Monday announced a Rs 2 cut in VAT on petrol and diesel to check the mounting prices of these fuels. Chief Minister N Chandrababu Naidu announced the reduction in Value Added Tax in the state assembly. He said the state government was currently levying Rs 4 per […]