Indian Oil Marketing Companies have increased petrol and diesel prices by Rs 3 per litre each, and CNG by Rs 2/kg, following daily losses of Rs 1,000-1,200 crore due to the Iran war. This move is expected to add inflationary pressure, impacting transportation, logistics, and retail goods costs.
Aviation Turbine Fuel tax cut in Maharashtra offers relief to airlines. The state government reduced Value Added Tax to 7% from 18% until November 14. This move comes as airlines face high jet fuel costs due to the West Asia war. The reduction will make Mumbai airport more competitive. Airlines hope for further tax reforms.
Fuel prices in India saw their first increase in over four years on Friday. Petrol and diesel prices rose by approximately Rs 3 per litre. This move by state-run oil companies aims to address mounting losses due to soaring global crude oil prices. The escalation in West Asia and disruptions around the Strait of Hormuz…
Fuel prices have surged in West Bengal, impacting transport costs. Operators anticipate a three percent rise in freight charges. They are urging the government to monitor product prices and prevent traders from increasing them unfairly. State governments are also being asked to consider reducing local taxes to ease the burden on truckers.
Petrol Diesel Price Increase: Fuel prices across India have risen by up to Rs 3 per litre. This hike is driven by surging global crude oil prices and tightened energy supplies. State-run fuel retailers had absorbed costs but are now passing them on. The increase reflects higher international crude costs and domestic pressure.
CNG Price Increase News: Price of CNG has been increased by Rs 2 per kilogram in Mumbai, now costing Rs 84/kg. This follows a Rs 3/litre hike in petrol and diesel prices by Oil Marketing Companies to offset losses from rising global oil rates, which have surged over $120 per barrel.
India and Southeast Asian nations are boosting biofuel use amid global fuel disruptions. This move aims to reduce reliance on imported oil and manage rising costs. However, challenges remain in developing supply chains and ensuring vehicle compatibility. Experts also highlight environmental concerns related to crop-based biofuel production. The shift towards biofuels is a significant development…
Petrol Diesel Price Increase: Fuel prices have risen nationwide. Petrol and diesel rates saw an increase of up to Rs 3 per litre. In Delhi, petrol now costs Rs 97.77 and diesel Rs 90.67. This adjustment by oil marketing companies reflects global crude oil market volatility. The hike will affect household budgets and transport costs,…
India’s crude oil stocks have dropped 15% since late February due to declining imports amid the Iran conflict. Refiners are drawing from inventories to maintain processing rates, but sustained supply constraints may soon necessitate reduced operations, potentially explaining the call for fuel conservation.