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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Reddy bats for additional tax on diesel cars
Writes to Pranab on the revenue being lost in not doing so, wants steep levy The government is planning to compensate the subsidy on diesel by taxing cars fuelled by it. Petroleum Minister S Jaipal Reddy has recommended a steep Rs 2,55,000 additional tax on large and medium diesel cars and Rs 1,70,000 on small diesel cars. In a letter to Finance Minister Pranab Mukherjee, he has said the government was earning Rs 12.72 less in excise duty on diesel compared to petrol, which attracts Rs 14.78 a litre in excise duty. Besides, Rs 12.53 is the under-recovery on sale of a litre of diesel.
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Special Tax on Diesel Cars May Increase Prices by 2.55 Lakh
Diesel cars may get expensive by . 2.55 lakh, with the oil ministry planning to impose a special tax on such vehicles. The government plans to impose additional levies of . 1,70,000 on small diesel cars
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To make diesel price hike tenable, petrol rate may be cut by Rs 2 a litre
In line with the falling global prices, petrol may be made cheaper by around Rs 2 a litre later this week, creating political legroom for a diesel price revision. This will be the second price cut in the month after the Rs 7.54 increase last month triggered strong political opposition. On June 2, petrol was brought down by Rs 2.02 to Rs 71.16 a litre in the capital. Oil marketing companies review petrol prices, vis-a-vis the average international price, on a fortnightly basis. “When the price was cut on June 2, the average international price was $115.81 per barrel, against $124.42 in the fortnight when the price was increased by Rs 6.28 excluding taxes.
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Eliminate Petroproduct Subsidies
A firm decision will improve the health of OMCs, government finances and rural citizens who use kerosene Global oil prices have been high in recent years even as our oil imports keep rising. Plunging
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Petrol Hike Should Have Been Done Earlier: Pawar
Petrol Hike Should Have Been Done Earlier: Pawar Agriculture minister Sharad Pawar has said that the UPA government could have managed the petroleum price hike in a better manner, to spread out the burden
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Price pooling most difficult: Coal Min
The coal ministry has conveyed to the Prime Minister’s Office (PMO) that it may not be possible to accept Planning Commission’s proposal to institutionalise a price pooling mechanism to encourage import
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Petrol to be cheaper by Rs1.19 per litre in Andhra Pradesh
Andhra Pradesh government late on Wednesday decided to reduce Value Added Tax (VAT) by 2 per cent on petrol, bringing its price down by Rs1.19 per litre, a move which has been approved by the Election
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Oil Cos Skid on Political Road
Freeing up petro product pricing and marketing will end the practice of oil companies making false claims of losses State oil companies are making a brave but laughable attempt to convince people that
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Plan panel proposes duty changes for petrochem industry
The Planning Commission has proposed a slew of changes in the prevalent duty structure for the petrochemical industry for the new Plan period (2012-17). To begin with, it has urged the central government to establish single national level value-added tax (VAT)/ goods and services tax (GST) on plastic and articles of states at a uniform four per cent. This could include prime petrochemical feedstock, naphtha and natural gas.
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Petrol to cost 92 paise less in the Capital
The petrol price in Delhi is all set to go down by 92 paise per litre from Rs. 71.16 as the Delhi Budget, which carried the proposal of waiving off the Value Added Tax on the recently-hiked price of the fuel, was passed by the Assembly on Monday. Besides, the Government has also dropped the proposal to impose five per cent VAT on compressed natural gas and high value textiles.