Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Delhi: Petrol to cost 92 paise less, diesel up by 37 paise
Petrol price will come down by 92 paise while cost of diesel will go up by 37 paise from midnight Sunday in the capital, with the Delhi government issuing a notification adjusting the Value Added Tax (VAT) on the two fuels. Petrol will cost Rs. 70.24 per litre from current Rs. 71.16 per litre and diesel will cost Rs. 41.28 per litre as against the current rate of Rs. 40.91.
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FinMin not in favour of excise duty hike on diesel vehicles
The finance ministry is not in favour of increasing excise duty on diesel vehicles as it comes at a time when most of India Inc is battling a demand slowdown. The proposal mooted by the petroleum and
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India’s eyes on Iran N-talks today
New Delhi: India’s attention will be firmly riveted to Europe in the coming week. Sunday’s elections in Greece could determine whether Athens stays within the Eurozone, which would have a huge impact on
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Jet fuel cheaper, but Re delays petrol price cut
New Delhi: State-run oil marketing companies on Friday slashed jet fuel prices by some 5% in line with international markets, but decided to watch the rupee’s movement against the greenback before reducing
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Petrol price may be cut by up to 2 a litre soon
Mumbai:Petrol car owners may soon heave a sigh of relief as oil marketing firms are expected to cut the prices by up to Rs 2 per litre on Friday due to international crude prices declining. Crude prices,
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Price controls hit India’s gas story: BP
New Delhi: British energy major BP Plc has sought a free market pricing regime for natural gas to check India’s growing dependence on imports and prevent investments in the exploration and related oilfield
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Asian carbon tax debate set to warm up
The carbon tax has become one of the most politically divisive and bitterly fought tax reforms of this century and governments around the world, and in particular Asia, are debating the issue. In an
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Higher crude oil prices pulled GDP to 6.9%: Reddy
Higher crude oil price was responsible for the pulling down the country’s GDP growth to 6.9 per cent last year from about eight per cent, petroleum minister Jaipal Reddy said on Wednesday. Speaking at the fifth OPEC International Seminar in Vienna on Wednesday, Reddy said, “It is estimated that a sustained 10 dollar increase in oil prices lead to a 1.5 per cent reduction in the GDP of developing countries. We have seen evidence of this in our own country. India’s GDP grew at 6.9 per cent during the last financial year down from the eight per cent plus growth rate experienced in the past few years”.
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CCI to write to oil firms on raising prices in unison
The Competition Commission of India (CCI) has questioned the coordinated pricing strategy of state-owned oil marketing companies (OMCs). It plans to write to these companies over the matter soon. “The coordinated approach of OMCs is not only impacting consumer interest, it is also likely to create entry barriers for private players in the sector. We will write to them about it soon,” a senior CCI official told Business Standard.
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State Govt waives VAT on petrol price
SHILLONG: Petrol prices in Meghalaya would become cheaper by Rs 1.05 per litre from Friday after the State Cabinet decided not to charge Value Added Tax (VAT) on the price of petrol which was recently hiked. Announcing this on Wednesday, Chief Minister Dr Mukul Sangma said, “The exemption of VAT would be applicable only on the recent hike of Rs 5.48.” Petrol prices were hiked by Rs 7.50 on May 23, but following widespread protests, the Government brought down the price by Rs 2.02.