NEW DELHI: Petrol price in the national capital neared the Rs 85 a litre mark while diesel rates in Mumbai were close to Rs 82 as fuel prices were raised by 25 paise per litre each on Monday. Petrol now costs a lifetime high of Rs 84.95 per litre in Delhi while diesel comes for […]
Category: Oil & Gas
India’s fuel demand falters in the first fortnight of January
NEW DELHI: India’s fuel sales faltered in the first fortnight of January as festive and holiday season demands evaporated, indicating the economy may be pausing to catch its breath. Latest market data shows diesel demand falling 3.5% short of the same period of 2020. This shows a slowing demand as compared to December when sales […]
Mumbai: Petrol 2 paise shy of all-time high, diesel at highest ever
MUMBAI: Petrol price in Mumbai is now close to an all-time high, two paise shy of the record. The rate was hiked by 25 paise on Thursday, taking it to a new high of Rs 91.32 per litre. This is the highest rate across all metros. The price of petrol in Parbhani is the highest […]
Fuel prices on a roll but no hint of any government tax cut
NEW DELHI: Petrol price remained on a roll, claiming a new peak at Rs 84.70 a litre in the national capital and 2 paise short of its all-time high of Rs 91.07 in the country’s financial capital Mumbai on Thursday. Diesel price too rose as retailers continued to pass on the staggered impact of crude’s […]
Fuel prices flare up but no tax cut signs
NEW DELHI: Petrol price remained on a roll, claiming a new peak at Rs 84.7 a litre in the national capital and 2 paise short of its all-time high of Rs 91.07 in Mumbai on Thursday. Diesel price too rose as retailers continued to pass on the staggered impact of crude’s week-long rally. After the […]
Fuel prices on fire as crude price tops $57 a barrel
NEW DELHI: Petrol price made a new record at Rs 84.45 a litre in Delhi and crossed Rs 90 in Mumbai on Wednesday in tandem with crude topping $57/barrel for the first time since February 2020 as economic optimism outweighed concerns over fresh virus scare in Europe and China. Diesel price made a fresh record […]
Oil-free future: What is Saudi Arabia’s Neom project
NEW DELHI: Top global oil exporter Saudi Arabia has unveiled its plans to build a zero-carbon city as part of its futuristic Neom mega development project. The eco-city with zero cars, roads or carbon emissions is called ‘The Line’ and is part of the kingdom’s $500 billion Neom project. The construction project is aimed at […]
5 petrol pump staff beat up drunk biker
Mumbai: A drunk biker was assaulted by five employees of a petrol pump in Borivli on Sunday night following a trivial dispute. The five were arrested by Kasturba Marg police after a video of the assault, shot by a bystander, went viral. The biker, Periyaswami Harijan, was also booked for unruly behaviour. The incident occurred […]
Facelift for IOC pumps to catch ’em young, make room for EV charging
NEW DELHI: IndianOil, the country’s largest fuel retailer, is giving its outlets a multi-crore-rupees facelift to attract gen-next consumers and make room for new-age alternatives such as charging or battery swap for EVs (electric vehicle) and natural gas, company executives said. The move is part of company chairman SM Vaidya’s vision of retaining the company’s […]
Fuel demand scales 11-month peak in December as recovery gathers pace
NEW DELHI: India’s fuel consumption in December rose for a fourth straight month as economic activity and transport demand continued to recover from a coronavirus-led hiatus. Consumption of fuel, a proxy for oil demand, rose 4.1% to 18.6 million tonnes in December, the highest since January 2020, data from the Petroleum Planning and Analysis Cell […]
Inclusion push: Fuel pumps may sell insurance
MUMBAI: Petrol pumps and gas dealerships may start distributing standardised insurance products if the sector regulator’s efforts are successful. There are nearly 61,000 fuel pumps in the country and almost 25,000 LPG dealers who can add to the insurance distribution capability in smaller towns and even villages. Additionally, the regulator Irdai has already directed companies […]
Petrol and diesel rates hit new high
Hyderabad: Fuel prices hit an all-time high in the first week of January. Till January 5, there was no hike in fuel prices in the city, however, the price escalated on January 6 to Rs 87.34 per litre from Rs 87.06 per litre. The price further rose by Rs 0.25 paise on Thursday and the […]