Topic
petrol
Commodities Govt Says All Refineries Operating at High Capacity with Adequate Crude Inventories and Sufficient Stocks of Petrol, Diesel
The Indian government announced that all refineries are operating at high capacity with adequate crude inventories and sufficient stocks of petrol and diesel. Joint Secretary Sujata Sharma detailed LPG delivery figures, restrictions on bulk purchases of petrol and diesel, and fertilizer stock positions. Additionally, an LNG carrier safely transited the Strait of Hormuz.
Commodities Brent Crude Falls to $83 on US-Iran Deal, UK Petrol Prices Set to Drop Further
Brent crude oil prices have fallen to around $83 a barrel following a US-Iran framework deal that ended the war and raised hopes for reopening the Strait of Hormuz. UK petrol prices, which peaked at 159.53p on 28 May during the conflict, have started declining, with the RAC forecasting a further drop to 148p if oil stabilises around $85. The article details the impact of the war on global oil flows and UK retail fuel costs.
Commodities India Bars Industrial Users from Buying Petrol, Diesel at Retail Pumps, Mandates Bulk Purchase
India's Ministry of Petroleum and Natural Gas issued an order barring industrial, commercial, and institutional users from purchasing petrol and diesel at retail fuel outlets, requiring them to switch to bulk sellers. The move addresses abnormal demand driven by a price gap between retail (Rs 95.20/litre for diesel in Delhi) and bulk prices (Rs 134.50/litre). Retail diesel purchases are capped at 200 litres per day. The order, effective for 90 days, aims to prevent localised shortages amid geopolitical supply disruptions.
Commodities India Waives Excise Duty on Ethanol-Blended Petrol to Boost Cleaner Fuel Use
India has waived excise duty on ethanol-blended petrol (E22, E25, E27, E30) to promote cleaner fuel and reduce crude oil imports. The government plans to establish 500 ethanol fuel stations by end-2026, with initial rollout in Delhi-NCR, Pune, Mumbai, and Nagpur. The move comes as global crude prices surged above $100 per barrel due to the ongoing Middle East conflict, pushing domestic fuel prices up by over Rs 7.5 per litre.
India restricts diesel and petrol sales at retail pumps for bulk users
India has restricted institutional and commercial customers from buying motor spirit and high-speed diesel at retail outlets, directing them to source from their own consumer pumps. The order also caps retail high-speed diesel sales at 200 litres per day per customer for up to 90 days.
Commodities India Exempts Higher Ethanol Blend Grades from Excise Duty
The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications exempting ethanol blended petrol grades E22, E25, E27, and E30 from central excise duties, provided excise duty has already been paid on petrol and GST on ethanol. The move mirrors existing treatment for lower blends and aims to avoid double taxation, according to officials. Joint Secretary Sujata Sharma stated it is a preliminary prerequisite for eventual introduction of higher blends after extensive testing.
Commodities Crude Oil Price Surge: Impact on Inflation and Transport Costs
Crude oil prices on the NYMEX have surged to $112 per barrel, impacting inflation and transport costs. Crisil warns of potential increases in CPI inflation by up to 48 basis points.
Logistics Transporters Urge Fuel Price Cut Amid Crude Oil Drop
The All India Motor & Goods Transport Association (AIMGTA) has called on the Indian government to reduce petrol and diesel prices following a drop in crude oil prices to $90 per barrel. This move aims to alleviate pressure on transport operators and reduce logistics costs.