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How India's Export Curbs, Tax Hike Will Exacerbate Global Diesel, Petrol Shortage

Energy & Infra

The world is grappling with tight gasoline and diesel supplies as Western sanctions have reduced exports from Russia while demand has surged in a post-pandemic recovery

Centre Raises Taxes On Export Of ATF, Diesel And Petrol; Windfall Tax On Domestic Crude Oil

BW Online Bureau

Energy & Infra

It has imposed Rs 6 per litre tax on exports of petrol and ATF and Rs 13 per litre on exports of diesel

FM Sitharaman Rebuts Opposition's Flak On Excise Duty Cuts

BW Online Bureau

National

First, former union finance minister P Chidambaram and then other Opposition leaders stated that the reduction in excise duty announced on Saturday evening would reduce the share of states in central taxes. On Sunday he retracted his statement saying the cut in the levies accrues to the central government alone

Finance Minister Announces Excise Duty Cut On Petrol And Diesel

BW Online Bureau

Economy

The government has reduced central excise duty on petrol and diesel by Rs 8 per litre and Rs 6 per litre respectively

India's Petrol, Diesel Sales Rebound In May As Pick-up In Economic Activity

BW Online Bureau

Energy & Infra

Another factor was the low base effect. April saw consumption drop due to a Rs 10 per litre hike in petrol and diesel prices after an over four-month hiatus

Petrol, Diesel Sales Rebound In May

BW Online Bureau

Energy & Infra

Petrol sales grew 14 per cent during the first half of May when compared with the same period in the preceding month, while diesel demand rose 1.8 per cent

Petrol, Diesel Rates Up By 80 paise; Rs 7.20 Increase In 12 Days

BW Online Bureau

Economy

This is the 10th increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22

IOC Unit To Release 6,000 MT Diesel To Help Ease Power Crisis In Lanka

BW Online Bureau

Companies & Markets

Power cuts lasting over 13 hours came to be in place on Thursday, the longest cut since 1996 when a strike by the state power entity employees caused a 72-hour black out

Petrol, Diesel Prices Hiked Again

BW Online Bureau

Economy

The rate revision was expected soon after assembly elections ended on March 10 but it was put off

Petrol, Diesel Prices Hiked By 80 Paise A Litre

BW Online Bureau

Economy

The increases are the steepest single-day rise since the daily price revision was started in June 2017. With three increases beginning March 22, petrol and diesel prices have gone up by Rs 2.40 a litre

Excise From Petrol, Diesel Doubles In FY21; States Get Rs 20,000 Cr

BW Online Bureau

Energy & Infra Oil and Gas

The central government's mop-up from excise duty levied on petrol and diesel more than doubled to Rs 3.72 lakh crore in the pandemic year 2020-21, out of which states were given less than Rs 20,000 crore, according to a reply by the government in the Rajya Sabha on Tuesday.

Centre To Bear Full Revenue Loss On Petrol, Diesel Excise Cut: Fin Min

BW Online Bureau

Companies & Markets

The Centre on November 4 cut excise duty on diesel by Rs 10 a litre and by Rs 5 on petrol. Following this, as many as 25 states and Union territories have lowered VAT on these fuels.

Petrol Price Further Cut By Rs 8, Diesel By Rs 9 In These 22 States, UTs

BW Online Bureau

Energy & Infra

While petrol soared to above Rs 100-a-litre-mark in all major cities, diesel had crossed that level in more than one-and-a-half dozen states.

Excise Duty Cut On Diesel, Petrol Sensitive Decision; Will Give Relief To Public: Amit Shah

BW Online Bureau

Energy & Infra

The home minister said this "Diwali gift" by the prime minister to the country would not only bring relief to the common man but also reduce inflation.