Chandigarh: The Punjab government on Monday slashed the rates of petrol and diesel by Rs 5 and Re 1, respectively in the annual budget presented for the state. The reduced rates will be applicable from midnight, Finance Minister Manpreet Singh Badal said. “Starting midnight (today), petrol and diesel will be[Read More…]
Tag: Diesel
Petrol, diesel price likely to go up as government plans to increase excise duty
New Delhi: As per reports the Central government led by PM Modi is planning to increase the excise duty by two rupees in a day or two which can cause a sudden increase in petrol-diesel price. The excise duty was reduced by one rupee in October by the central government[Read More…]
Fuel price: Petrol, diesel rate continues to dip for the sixth straight day
Petrol, diesel prices witnessed further reduction for the sixth straight day on Tuesday bringing relief to consumers from never-ending fuel rate hikes. The petrol in Delhi came down by Rs 0.10 and was revised to Rs 81.34 per litre, where as, in Mumbai, petrol price came down to Rs 0.10[Read More…]
First time in India: Diesel soars above petrol in Odisha
Odisha sets a national record with unending fuel price surge as the diesel becomes costlier than petrol. It’s first ever in the country that the diesel on Sunday was sold at Rs 80.69 per litre while petrol was sold at Rs 80.57 per litre. The diesel price rose 12 paise[Read More…]
Petrol, diesel prices down for 3rd consecutive day
Mumbai: The state-run oil marketing companies (OMCs) cut the prices of key domestic transportation fuels — petrol and diesel — for the third consecutive day on Saturday. The prices of petrol and diesel were lowered in the national capital by 39 and 12 paise respectively. According to the IndianOil Corp[Read More…]
Fuel excise cuts to create downside risks to fiscal deficit target: Moody’s
Mumbai: Global credit ratings, research and risk analysis firm Moody’s Investors Service on Tuesday said the recent reduction in excise cuts on petrol and diesel will “create material downside risks” to the central government’s fiscal deficit target. According to a Moody’s note, the excise cuts will reduce government revenue by[Read More…]
Fuel on Fire: Petrol crosses Rs 92, diesel breaches Rs 90 mark in Maharashtra
Petrol retail rates finally breached the Rs 90 mark in Mumbai by touching Rs 90.08 per litre here on Monday, but stood much higher elsewhere in the state, industry officials said. Federation of Maharashtra Petroleum Dealers Association (FAMPEDA) President Uday Lodh said that the new rate became effective after a[Read More…]
Andhra Pradesh announces Rs 2 cut in tax on petrol, diesel
As fuel prices continued the upward spiral, the Andhra Pradesh government Monday announced a reduction of tax on petrol and diesel by Rs 2 a litre. Making the announcement in the state assembly, Chief Minister N Chandrababu Naidu said the Centre earned a huge sum by hiking levies on fuel but[Read More…]
Petrol reaches almost 90 in Maharashtra’s Parbhani
Parbhani (Maharashtra): Petrol prices on Monday shot up to Rs 89.97 in Maharashtra’s Parbhani, the highest in India, an official said. Parbhani District Petrol Dealers Association (PDPDA) President Sanjay Deshmukh told IANS that while petrol was nearly touching the psychological barrier of Rs 90 per liter (at Rs 89.97), diesel prices stood at Rs 77.92 on Monday. The other highest[Read More…]
‘Centre increased excise duty 12 times on petrol, diesel’
Congress leaders Sunday urged the people of Gujarat to make Monday’s Bharat bandh a success and accused the Centre of revising excise duty on petrol and diesel twelve times leading to a sharp spike in their prices. The BJP-led Union government pocketed Rs 11 lakh crore from the public by raising taxes on fuel and not including petrol and diesel under GST, Congress leaders Sushil Kumar[Read More…]
Petrol, Diesel may soon become cheaper in Punjab, Karnataka
Petrol and diesel may soon become cheaper in Punjab and Karnataka, the All India CongressCommittee (AICC) in-charge for Himachal Pradesh Rajni Patil said here Sunday. Responding to a question, Patil said the chief ministers of Congress ruled Punjab and Karnatakahave already been directed to reduce value added tax (VAT) on petroleum products. Patil, accompanied by Himachal Pradesh Congress Committee (HPCC) president Sukhvinder[Read More…]
Congress wants explanation from PM Modi over record-high fuel prices
Congress on Friday demanded that Prime Minister Narendra Modi must break his silence on rising fuel prices and falling value of the rupee against the dollar and said: “he owes an explanation to the country in this gloomy scenario”. “When the value of the rupee was at Rs 60 to a dollar, the Prime Minister had[Read More…]
Fuel prices register steepest daily hike, up 50 paise per litre
Domestic fuel prices witnessed the steepest hike in the year so far with around 50-paise raise on Friday across the four metro cities. Both petrol and diesel prices have been at their all-time high in the country for around a week now, due to increase in crude oil prices and depreciation in the rupee against the dollar. The weakening of[Read More…]
Fuel prices hit record high for 10th consecutive day
The prices of petrol and diesel, already at unprecedented levels in the country, rose for the 10th consecutive day on Tuesday, even as analysts said the dual impact of rising oil prices and depreciating rupee increases regulatory risks for state-run oil and gas firms. In the national capital, petrol was[Read More…]
India sells Petrol at Rs 34 litre to 15 countries, but double price to Indians: RTI Report
Through an RTI report, RTI activist from Punjab, Rohit Sabrawal revealed that India is selling Rs 34 per litre Petrol to 15 countries and Rs 37 per litre diesel to 29 countries while Indian citizens have been availing the same Petrol and diesel for more than double the price. In[Read More…]
Delhi: Petrol price reaches Rs 77 per litre, diesel Rs 68.50 after two months
Due to firming international rates, Petrol prices have reached the mark of Rs 77 per litre, while diesel rates crossed Rs 68.50 for the first time in two months. According to daily price notification issued by state-owned oil firm, petrol price in Delhi was today hiked by 9 paisa a[Read More…]
Sushil Modi rules out bringing petrol, diesel under GST
New Delhi: GST Council Member and Bihar Deputy Chief Minister Sushil Modi on Friday outright ruled out bringing petroleum products under the ambit of Goods and Services Tax (GST) in near future, citing loss of revenue both to central and state governments. He added there was no consensus in the[Read More…]
With 90% tax on petrol & diesel, bringing them under GST impractical: NITI Aayog Vice Chairman
New Delhi: Petroleum is the taxation milch cow for the central and the state governments and it is unlikely to be brought under the Goods and Services Tax (GST) any time soon. That’s also the view of the Vice Chairman of Niti Aayog, Rajiv Kumar. Several senior ministers have demanded[Read More…]
Petrol, diesel in Delhi hit record highs
State-run Indian Oil Corp on Sunday raised transport fuel to record highs in Delhi on the seventh day of resuming the daily price change system, following a temporary suspension that lasted 20 days. The price of petrol in Delhi touched a record high of Rs 76.24 per litre under the dynamic pricing regime beating the previous[Read More…]
After Maharashtra and Gujarat, Madhya Pradesh slashes VAT on petrol by 3 %
Following the lead of Maharashtra and Gujarat, the Madhya Pradesh Government on Friday slashed the Value-Added Tax (VAT) on prices of petrol by 3 % and diesel by 5 %. An additional Rs. 1.50 have also been reduced on the same. Earlier the Centre had announced that the excise duty[Read More…]
VAT on petrol, diesel lower in Bihar than many states: CM Nitish Kumar
Bihar chief minister, Nitish Kumar, on Monday said the state’s Value-Added Tax (VAT) on fuel is the lowest among many states. His statement comes after union petroleum and natural gas minister, Dharmendra Pradhan, appealed the state governments to cut the VAT on petroleum products by five %. “Bihar’s Value-added tax[Read More…]
Fuel rates continue to skyrocket in India
The prices of petrol and diesel have been skyrocketing since July in the country. The petrol price has increased by 8 paise a litre and diesel by 10 paise per litre. In the national capital, the price of petrol has risen by Rs 7.29 since 1 July. The fuel prices[Read More…]
Differential pricing in fuel evokes mixed reactions on social media
Indian Oil Corporation on Thursday that the prices of petrol and diesel will be revised on a daily basis from June 16th all over the country. In a statement, it said, that all public sector oil companies, including IOC, Hindustan Petroleum Corporation and Bharat Petroleum, will implement the decision. However, it is[Read More…]
Home delivery of petrol, diesel possible says Oil Ministry
To tackle the problem of waiting for hours at fuel pumps, the government is planning home delivery petrol and diesel to consumers if they pre-book, the Ministry of Petroleum and Natural Gas tweeted on Friday. The oil ministry also pointed towards the increase in digital transactions for fuel purchase. “Over[Read More…]