Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
New e-truck incentive plan may not have many takers
The scheme also allows a consumer who did not previously own a truck to get a scrapping certificate from someone else to avail the incentives while buying. The incentive amount for e-trucks is likely to be announced later this month. Girish Wagh, executive director, Tata Motors, said initiatives like the PM E-Drive provide the much-needed push for EV adoption in the M&HCV segment by "fostering industry confidence and accelerating investments in cleaner technologies."
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Petrol, diesel sales soar on holiday travel
India's petrol and diesel consumption soared in December 2024 as holiday travel boosted demand, reversing the fall witnessed in previous months, preliminary data of state-owned fuel retailers showed on Wednesday.
ATF price cut by 1.5%, commercial LPG rates down Rs 14.5 per cylinder
Jet fuel prices were reduced by 1.5 percent and commercial LPG prices by Rs 14.5 per 19-kg cylinder in January. Cooking gas prices for households remain unchanged. The last price cut for petrol and diesel was in mid-March. Prices of ATF and LPG may vary by state. Oil corporations revise fuel prices on the first of each month.
India Inc seeks cut in personal income tax rates, flags dumping by China at pre-Budget meet
Industry bodies have urged the Finance Minister to consider reducing personal income tax rates, lowering excise duty on fuel, and implementing measures to boost employment-intensive sectors in the upcoming budget. Concerns about Chinese product dumping, food security, and inflation due to climate change were also highlighted.
Refex Renewables & Infrastructure arm acquires 51% stake in Vyzag Bio
Refex Renewables & Infrastructure on Monday said its arm Refex Sustainability Solutions Ltd (RSSL) has completed acquisition of 51 per cent stake in Vyzag Bio-Energy Fuel.
Petrol, diesel sales soar on holiday travel
India's petrol and diesel consumption increased in December 2024 due to holiday travel. Petrol sales rose 9.8 per cent and diesel demand was up 4.9 per cent from the previous year. Fuel demand also increased due to agriculture activities. This rise continues the trend of growth seen in November 2024 despite the tepid monsoon months.
India cut GDP emission intensity by 36 pc during 2005-2020: Govt report
India's greenhouse gas emissions dropped by 7.93% in 2020 compared to 2019, and the emission intensity of its GDP declined by 36% between 2005 and 2020. India aims to further reduce GDP emission intensity by 45% by 2030 and achieve 50% electric power from non-fossil fuels.
Oil rises on expanding Chinese factory activity, but set to end year lower
Oil prices increased due to China's expanded manufacturing activity in December. Brent crude futures increased to $74.46 a barrel and U.S. West Texas Intermediate crude to $71.48 a barrel. Brent declined 3.2%, and WTI was down 0.6% for the year. Declining U.S. crude stockpiles provided short-term support.
IOCL to provide fueling services at Noida International Airport
Indian Oil Corporation (IOCL) will provide fuel services at Noida International Airport (NIA) in Jewar, Uttar Pradesh, under a 30-year concession agreement. IOCL will operate three fuel stations at different strategic locations within the airport, ensuring seamless and efficient fueling services as the airport prepares for its inauguration early next fiscal.
Budget 2025: Cut IT rates, hand out vouchers to drive consumption, urges CII
The Confederation of Indian Industry (CII) recommends personal income tax cuts and excise duty reduction on fuel to enhance disposable incomes and stimulate spending. They also propose increasing daily wages under MGNREGA and payouts under PM-Kisan. Engineering Exports Promotion Council (EEPC) suggests a faceless GST audit system to aid MSMEs in reducing compliance costs and focusing on growth.
India initiates anti-dumping probe into LNG fuel tanks imports from China
India is investigating allegations of dumping LNG fuel tanks from China after a domestic company complained. The investigation could lead to anti-dumping duties if it finds that cheap imports are hurting local manufacturers. These tanks are important for large vehicles and the case is being examined by the Directorate General of Trade Remedies.
Budget 2025-26: CII calls for cut in excise duty on fuel, consumption vouchers to stir demand
Union Budget: CII recommends lowering excise duty on fuel to boost consumption, reduce inflation, and increase disposable income in its pre-budget suggestions for 2025-26. The proposal includes reducing marginal tax rates for incomes up to Rs 20 lakh and increasing benefits under key government schemes to enhance rural recovery.
Climate change led to 41 additional days of extreme heat in 2024: Report
Climate change led to an average of 41 more days of extreme heat in 2024, making it the warmest year on record. The year witnessed 219 extreme weather events, 3,700 deaths, and millions displaced. To avoid further devastation, transitioning away from fossil fuels is crucial, as current policies may increase global warming to 3 degrees Celsius by 2100.
Black Sea oil spill: Russia declares emergency; here's what happened
The Black Sea oil spill has become a major environmental disaster, forcing Russia to declare a federal emergency.
NTPC REL begins commercial supply of 37.50 MW from Sadla solar project
NTPC's subsidiary, NTPC Renewable Energy Ltd, started commercial operations for the first 37.50 MW of its 200 MW Gujarat Solar PV Project on December 21, 2024. This increases NTPC group's total installed and commercial capacity to 76,598.18 MW. NTPC aims to reach 60 GW of renewable energy capacity by 2032.
Reliance's Jamnagar 'super' refinery completes 25 yrs of operations
Reliance built the world's largest grassroots refinery in Jamnagar, Gujarat, in just 33 months. This transformed India from a fuel deficit to a self-sufficient nation. The complex was expanded over time, turning Jamnagar into a global refining hub. The success of this project made Jamnagar a top refining site and an environmental success story.