Indian Oil Corporation (IOC), the nation’s largest oil firm, on Thursday said it will invest Rs 9,028 crore in laying a new crude oil pipeline from Mundra in Gujarat to Panipat in Haryana. The pipeline, which will have a nameplate capacity of 17.5 million tonne per annum, will transport imported crude oil from the Gujarat […]
Category: Oil & Gas
Petrol to be cheaper by Rs 8 per litre in Delhi as AAP govt decides to cut VAT
The Delhi government on Wednesday decided to reduce VAT on petrol, bringing down the price of the fuel in the city by about Rs 8 per litre, a move Chief Minister Arvind Kejriwal said will give relief to Delhiites from inflation. The petrol and diesel prices in Delhi have now become cheaper than other cities […]
Haryana slashes VAT on jet fuel
Haryana has slashed the value added tax (VAT) on aviation turbine fuel to one per cent, making it the fifth state to reduce the levy on the fuel. In a series of tweets, Civil Aviation Minister Jyotiraditya Scindia on Sunday expressed his gratitude to Haryana Chief Minister Manohar Lal Khattar for the prompt action on […]
Petrol, diesel price to fall only on sustained drop in international oil prices
Petrol and diesel prices will be reduced only if the current drop in international oil prices is sustained for a few more days, as domestic retail prices are fixed on a 15-day rolling average, official sources said. Global benchmark Brent crude oil prices remained largely range bound at around USD 80 to 82 per barrel, […]
Illegal sale of biodiesel: Haryana Petroleum Dealers Association calls for strike on Nov 15
The Haryana Petroleum Dealers Association has given a call for strike on November 15 in protest against the illegal sale of spurious biodiesel at cheaper rates. Spurious biodiesel is being sold in the district at Rs 30 per litre cheaper than diesel, causing losses to fuel stations. Sources say there are illegal sale points of […]
Rise in sale of petrol, diesel in Jalandhar after VAT cut
A day after the state government reduced value-added tax (VAT) on petrol and diesel, their sale witnessed a rise in the district on Monday. The petrol pump dealers here said while the sale was very low on Sunday as the residents were awaiting revised rates, a large number of consumers thronged petrol pumps to fill […]
Cabinet approves ethanol price hike by up to Rs 1.47 per litre
The government on Wednesday hiked the price of ethanol extracted from sugarcane for blending in petrol by up to Rs 1.47 per litre for 2021-22 marketing year starting December, as part of its target to achieve 20 per cent doping by 2025. A higher blending of ethanol in petrol will help cut India’s oil import […]
Excise cut on fuels positive for inflation, says RBI Governor Shaktikanta Das
The recent decision of the Central government to cut the excise duty on diesel and petrol is significantly positive for inflation, RBI Governor Shaktikanta Das said on Wednesday.
Total tax on petrol down to 50 pc, diesel to 40 pc after duty cuts
New Delhi: The total incidence of taxes on petrol has come down to 50 per cent and that on diesel to 40 per cent following a reduction in excise duty by the central government, and by a slightly higher proportion in states that have also cut local sales tax or VAT on the fuel. The […]
Total tax on petrol down to 50 pc, diesel to 40 pc after duty cuts
The total incidence of taxes on petrol has come down to 50 per cent and that on diesel to 40 per cent following a reduction in excise duty by the central government, and by a slightly higher proportion in states that have also cut local sales tax or VAT on the fuel. The retail price […]
Fuel prices hiked again by 35 paise/litre for fifth consecutive day
Petrol and diesel prices rallied to their highest ever levels across the country, as rates were hiked again for the fifth consecutive day on Sunday. Accordingly, the pump price of petrol in Delhi rose by 35 paise to its highest-ever level of Rs 107.59 a litre while diesel prices also rose by the same margin […]
Reliance net jumps 43% as it fires on all cylinders
Billionaire Mukesh Ambani’s Reliance Industries on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 […]