Thursday, 26 May, 2022
TopicPetrol

Topic: Petrol

For the first time, LPG sold more than petrol in India in 2020

Indian LPG consumption in 2020 was at 27.41 million tonnes, 4.3% higher than a year earlier, while petrol demand in the same period plunged 9.3% to 27.27 million tonnes.

India’s annual fuel demand falls for first time in 21 years

Demand for total petroleum products — including diesel, gasoline and jet fuel — slid 10.8% from a year earlier, the first annual contraction in data going back to 1999.

In 5th straight day of increase, petrol price up by 28 paise, diesel by 29 paise per litre

This is the 14th increase in rates since 20 November when oil companies resumed daily price revision after nearly two-month hiatus.

Petrol price crosses Rs 82 a litre, diesel past Rs 72

Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a Covid vaccine development led to a rally in international oil prices.

Covid fear, high taxes push India’s petrol consumption to overtake diesel

While diesel consumption is lagging, petrol sales in September rose for the first time since February on a year-on-year basis as more people opted for own vehicles to commute.

India and US sign MoU to develop strategic petroleum reserve

Union Minister of Petroleum and Natural Gas Dharmendra Pradhan also said both countries were in discussions to store crude oil in US to increase India's stockpile.

India’s fuel demand from cars to factories is beginning to bounce back

Provisional fuel sales in June climbed within 88% of 2019 levels from less than half in April in the midst of the world’s biggest lockdown, oil ministry said.

India’s oil revenue loss in lockdown seen exceeding Rs 40,000 crore

Fuel consumption probably declined at least 80% in April, which would lead to a revenue loss of as much as Rs 400 billion, said economist Madan Sabnavis.

Should Modi govt let oil crash cushion finances or will lower retail prices revive economy?

The global oil slump has given Modi govt the cushion to hike fuel taxes to meet revenue shortfalls. But retail fuel prices still hover around pre-Covid-19 levels.

Why excise hike in petrol and diesel is good idea, and the complicated politics of Israel

In episode 416 of #CutTheClutter, Shekhar Gupta explains the reasons behind the excise hike in petrol and diesel, and delves into the recent political crisis in Israel.

On Camera

YourTurn

Representational image of dal and roti | Photo Pixahive/CC0

Feeding world must take backseat, Modi govt should deal with India’s ‘chapati’ crisis first

German agriculture minister Cem Ozdemir said imposing export restrictions or closing markets would worsen the crisis. Actually, the opposite might be true.
A petrol pump staffer refills fuel in a two-wheeler in New Delhi, on 29 March 2022 | ANI photo

Modi govt won’t borrow extra this year to fund tax cuts, inflation target to stay at 4%

The cut in excise duty last week, coupled with an increase in fertiliser and food subsidies, is expected to cost the exchequer around Rs 3 lakh crore in the current financial year.

Defence

Naval helicopters | Representational image | indiannavy.nic.in

What’s Combined Military Forces-Bahrain? US-backed coalition India joined on Quad sidelines

India is 35th member of the maritime counterterrorism partnership that also includes Pakistan, Australia, Bahrain, Denmark, Egypt, France, Germany and Greece, among others.

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.
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