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Diesel, India's most consumed petroleum fuel and lifeline of transport and rural agri economy, saw just 2 per cent growth in demand in fiscal year ended March 31, 2024 and no growth at all in the preceding financial year
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The news comes days after there was a buzz around prices of petrol and diesel being slashed owing to the falling crude oil prices.
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Y S Sharmila noted that a litre of petrol costs Rs 109.6 in Andhra Pradesh and diesel Rs 97.4, whereas in Tamil Nadu, they cost Rs 100.8 and Rs 92.3, respectively
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ICRA: Stable Crude Prices Could Lead to Rs 2-3 per Litre Cut in Petrol, Diesel
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According to reports, after the incident, locals rushed to the scene before police were able to do so and began siphoning fuel from the tanker.
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While IOCL has depots at Kavaratti and Minicoy, the product at these depots is supplied from the IOCL depot in Kochi, Kerala.
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Through duty cuts, the government has foregone revenue to the tune of Rs 2.2 lakh crore, he said.
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The arrested persons, M Anand Kumar (37) and J Shehkar Naik (32), both residents of Ranga Reddy district along with others were regularly transporting diesel from Karnataka.
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The Delhi transport department in its order said, the sub-committee for operationalisation of the revised GRAP has reviewed the air quality scenario as well as the forecast for meteorological conditions and air quality index in Delhi.
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A Rajasthan Petroleum Dealers Association member said the government had promised a solution in 10 days on increasing VAT on petrol and diesel
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Month-on-month sales were up 0.9 per cent, when compared with 2.7 million tonnes of diesel consumed in the first half of August.
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The petitioner pointed out how there was no mechanism to determine the prices of the products and that the increase in prices of petroleum products would lead to a new wave of inflation.
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Earlier this week, the road, transport and highway minister's remarks regarding the need to levy 10 per cent tax on diesel-run vehicles to help cut emissions had generated lots of controversy.
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The government on Friday cut special additional excise duty on crude petroleum to Rs 6,700 per tonne with effect from September 2
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India’s petrol and diesel consumption fell in the first half of August from the previous month and a year ago.
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Levy on diesel became nil in April but the levy was brought back in August. Levy on ATF became nil in March and has now been brought back.
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The Pakistan Finance Minister, Ishaq Dar, informed about the development that led to the prices of petrol and diesel at Rs 272.95 and Rs 273.40 per litre, respectively
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Consumption had fallen by a steep 15 per cent in first half of July but picked up in the second fortnight.
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