Latest Fuel News
Recent fuel, transport, and policy updates presented in a clear and scan-friendly format.
'Wow Modi ji wow!!' Excise duty hike sparks Opposition attack amid global oil price dip
The Union government has raised the excise duty on petrol and diesel by ₹2 per litre, effective April 8, 2025, to boost revenue. Congress President Mallikarjun Kharge criticized the move, citing declining crude oil prices. The Oil Ministry assured this hike won't impact consumers due to recent retail price cuts. Major oil marketing company shares fell following the announcement.
Siddaramaiah cites excise duty hike on fuel, mocks BJP for their campaign on price rise
Chief Minister Siddaramaiah criticized the BJP's protest campaign, coinciding with a central excise duty hike on petrol and diesel. He accused Prime Minister Modi of exposing the BJP's hypocrisy and blamed the Union Government's economic policies for rising fuel prices. Siddaramaiah challenged BJP leaders to address the price hikes or face public anger, highlighting the impact on essential goods.
Draft EV Policy 2.0: In green push, Delhi plans to phase out non-electric 3-wheelers, 2-wheelers
Delhi's upcoming EV Policy 2.0 proposes phasing out CNG autorickshaws, with no new registrations after August 15th. Existing CNG permits won't be renewed, replaced by e-auto permits. The policy targets fossil fuel vehicles used for waste management and city buses, mandating a complete electric transition by 2027.
Pressure mounts on Govt for petrol, diesel price cut with Brent in free-fall
Global crude oil prices continued their downward descent on Monday with Brent prices ruling at $63.23 per barrel in early afternoon (India time), a decline of over 3%
Fuel duties raised without retail price hike; LPG cylinder now costlier by ₹50
The special additional excise duty on petrol and diesel has been raised by ₹2 each to ₹13 and ₹10, respectively, to offset global price drops and help recover oil PSU losses, potentially yielding ₹32,000 crore annually
Dividend receipts from CPSEs exceed revised estimates, surge to all-time high of nearly ₹66,000 cr
Dividends declared by operating CPSEs in FY 2023-24 stood at ₹1.23 lakh crore against ₹1.05 lakh crore in FY 2022-23, showing an increase of over 16%
Oil Minister Hardeep Singh Puri hints at potential petrol, diesel price cut if global crude prices remain subdued
Oil Minister Hardeep Singh Puri hinted at a potential reduction in petrol and diesel prices, contingent on global crude prices continuing to stay low. He mentioned that if crude prices remain subdued, consumers could reasonably expect a fuel price cut after a year-long hiatus.
Govt will continue to intervene in fuel pricing: Reliance-BP fuel retail CEO
Reliance BP Mobility CEO Harish Mehta stated that the government will continue intervening in domestic fuel pricing to protect consumers from international market fluctuations. While petrol was deregulated in 2010 and diesel in 2014, recent events have disrupted this alignment.
Petrol sales up 5%, diesel 1% in March
Petrol, diesel, jet fuel, and LPG sales in March 2024 grew at a slower pace compared to the full year, with petrol seeing a 5.3% rise and diesel at 0.9%. Full year growth for petrol was 7.3% and 2% for diesel. Jet fuel and LPG also showed moderated increases.
Trump administration cancels clean energy grants as it prioritizes fossil fuels
President Trump's administration is terminating grants for two clean energy projects and reviewing roughly 300 others, prioritizing fossil fuels over renewable energy. The Department of Energy states the awards do not align with the administration's objectives, impacting efforts to reduce greenhouse gas emissions and transition to cleaner energy sources.
Bengaluru cost of living to jump! Milk, water, electricity and 'garbage tax' to burn bigger hole in pocket
Residents of Bengaluru face increased expenses as the new financial year begins, with prices rising for milk, waste management, metro fares, and bus tickets. The Congress-led state government and service providers cite rising operational costs. Milk prices rise by Rs 4 per litre, waste collection charges increase, and public transport fares see significant hikes, affecting daily commuters.
Auto companies push for easing of fuel efficiency norms
Automakers are urging the government to relax new CAFE III fuel efficiency norms, set to begin in April 2027, due to the low penetration of electric vehicles. They argue current standards are too stringent without significant EV adoption and seek calculations based on the MIDC cycle.
Iraq agrees to supply Lebanon with fuel for six months
Iraq will continue supplying Lebanon with fuel for another six months, according to a statement from Iraqi Prime Minister Mohammed Shia al-Sudani. This deal, initially made in July 2021, aims to mitigate Lebanon's severe power shortage. Lebanon exchanges the heavy fuel oil received from Iraq for gas oil, which powers its underperforming power stations.
India to become world's biggest electric vehicle manufacturer in the next 5 years: Nitin Gadkari
India is on track to lead the world in electric vehicle manufacturing by 2030. Union Minister Nitin Gadkari announced initiatives to boost alternative fuel vehicles. The Indian automobile industry has grown significantly. Falling lithium-ion battery costs and new innovations are driving demand. Infrastructure development, such as dedicated cycle tracks, will support this growth.
India can be great producer of SAF; the fuel can help reduce pollution: Airbus official
India has great potential to produce Sustainable Aviation Fuel (SAF) using available biomass waste and feedstocks like rice and wheat straws. Airbus is working with the Indian Institute of Petroleum to develop new SAF production methods. Policies and government support are vital for scaling production and making SAF more cost-competitive.
India on track to achieve 500 GW renewable energy target: Pralhad Joshi
India is on track to achieve its 500 GW renewable energy target by 2030, with Rs 32 lakh crore investment commitments. Union Minister Pralhad Joshi highlighted the progress, including 223 GW of non-fossil-fuel capacity. Renewable energy project bids cover 169 GW, and the government is supporting offshore wind projects with viability gap funding.