In a relief to people ahead of the Lok Sabha polls expected to be held in April-May, the government has decided to cut the price of petrol and diesel by Rs 2 per litre
India's demand for petroleum products is likely to increase by a mid-single-digit percentage in the financial year ending March 2024, following a 10 per cent post-pandemic recovery in 2022-23, according to Fitch Ratings.
According to Fitch Ratings, this follows a robust 5 per cent year-on-year increase in the first nine months of FY24 and a noteworthy 10 per cent post-pandemic recovery witnessed in FY23.
"We have written to the Heavy Industry Ministry (saying) that fully electric vehicles attract five per cent duty. About 43 per cent duty is levied on petrol and diesel vehicles including cess. What we are saying is that hybrid cars should not be subject to the same duty as petrol and diesel,
The District Magistrate of Jammu, Sachin Kumar Vaishya on Tuesday urged the public not to panic and rush to the petrol pumps saying that there are enough stocks of petroleum products in the district.
Acting on the directions of Punjab Chief Minister Bhagwant Mann, a high-level meeting involving senior state and district officials was convened on Tuesday to monitor the distribution of petrol and diesel in the state.
In an initiative to achieve the goal of 'Green and Clean Himachal', Chief Minister Sukhvinder Singh Sukhu has directed all government departments not to buy diesel or petrol vehicles from January 1, 2024.
Comparing the petrol and electricity prices of Rajasthan with BJP-ruled states, Assam Chief Minister Himanta Biswa Sarma on Thursday said that Ashok Gehlot-led Congress government in Rajasthan did not do anything to control the prices of petrol in the state.
Union Minister Hardeep Singh Puri on Saturday alleged that the price of petrol in Rajasthan was the highest in the country because of taxes imposed by the Congress government in the state, adding that the Rajasthan government has collected tax of Rs 35,975 crore on petrol and diesel.
S&P Global Commodity Insights said oil demand in India is expected to grow by 249,000 barrels per day in 2023, revised higher by 10,000 bpd from its last update.