Russia's nuclear fuel company busy 'breeding' new fuels
TVE Fuel is part of Russia's integrated nuclear power company. "All the six 1,000 MW units at Kudankulam in India will be powered by TVS 2M fuel. The fuel has been introduced in Unit 1," Alexander Ugryumov, Senior Vice-President for Research and Development said. The earlier fuel that was used in Unit 1 was called UTVS.
Petrol, Diesel prices to be cheaper from today
On Monday, the cost of petrol in the national capital was Rs 96.72, Rs 106.03 in Kolkata, Rs 106.31 in Mumbai and Rs 102.63 in Chennai. The drop in prices was expected as international crude oil prices dropped and have remained stable for some time. The crude oil price has remained below 95 dollars per barrel for some time now.
Excise duties on petrol, diesel zoomed up despite crude staying below $80
The government's revenue generation through levy of excise duty saw a growth of 126 per cent between 2014-15 and 2021-22. The income growth was 186 per cent during the same period. According to official data provided by the Petroleum Ministry's Petroleum Planning and Analysis Cell (PPAC), excise duty on petrol was Rs 9.48 per litre and on diesel it was Rs 3.56 per litre in 2014-15 when the NDA government had come to power.
Energy stocks fall sharply after govt hikes windfall profit tax on diesel, jet fuel export
Shares of Chennai Petro, Adani Total Gas, ONGC, Asian Energy and Reliance were trading more than 1.5 per cent to 4 per cent lower during early trade. While, BSE Energy were down 102.51 points or 1.15 per cent at 8,780.11, and Nifty Energy were down 269.65 points or 0.96 per cent at 27,834.85.
Level playing field for alternative fuel mobility: Indian Auto LPG Coalition
"In principle, we whole-heartedly welcome the government's initiatives on promoting EVs (electric vehicle). What we have been merely asking is that the government should also extend equal opportunity to another hugely feasible alternative fuel which could also contribute to an emission-free mobility system in our country," the association's Director General Suyash Gupta said.
Britain's inflation hits fresh 40-year high as fuel, food prices surge
On a monthly basis, the country's CPI rose by 0.8 per cent in June 2022, compared with a rise of 0.5 percent in June 2021, according to the Office for National Statistics (ONS). The increase in annual inflation was driven by rising fuel and food prices, and these were only slightly offset by falling second-hand car prices, said Grant Fitzner, ONS chief economist.
India's fuel demand up 22% YoY in May: S&P Global Commodity Insights
The demand for May was some 80,000 barrel higher than its growth forecast, partly due to stronger-than-expected demand for transportation and the government's announcement of a cut in excise duty on patrol by Rs 8 per litre and Rs 6 per litre on diesel, which provided some support for demand. On a year-on-year basis, demand growth was driven by diesel, petrol and other minor products, which were up 416,000 barrels per day, 282,000 barrels per day and 161,000 barrels per day, respectively.
India's April fuel intake dips on rising crude prices, to reverse in May
Domestic oil products demand fell 4 per cent month on month to 18.64 million tonne, or 4.9 million barrel per day, in April, it said, quoting data from the Petroleum Planning and Analysis Cell. The rise in crude prices due to the Ukraine-Russia conflict pushed up domestic prices of transportation fuels and other oil products in India.
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