With global crude oil prices shooting up, petrol and diesel prices in Goa continue to scale new heights. Petrol has hit an all-time high price of Rs 68.3 per litre, a 24% increase from 2015, while diesel prices have shot up by 21% to Rs 66.4 per litre.
Petrol prices were hiked by 5 paise and diesel prices by 9 paise, applicable from 6:00 a.m. on 19th April 2018. Under the dynamic pricing scheme, petrol and diesel prices are revised on a daily basis in sync with global crude oil prices.
Petrol and diesel prices were hiked the sixth day in a row on Tuesday. The price of non-branded petrol was increased by 11-13 paise per litre in metro cities on Tuesday while diesel by 13-14 paise, according to Indian Oil, the biggest oil retailer in the country.
Union Minister of Petroleum & Natural Gas Dharmendra Pradhan on Monday appealed to the Goods and Services Tax (GST) Council to include petrol and diesel products in the GST framework after fuel prices reached a new high today.
Indian Oil Refiners Are Investing Rs 30,000 Crore For Upgrading To BS VI Technology: SSV Ramakumar, IOC
India has just launched the high efficiency BS VI grade of petrol and diesel in a bid to cut vehicular emissions. However, However, the improved fuel quality will have a marginal impact on emissions until the launch of the complimentary BS VI compliant automobile engines
Ultra-clean Euro-VI grade petrol and diesel, at no additional price, will be supplied in the national capital from tomorrow in a bid to combat alarming levels of air pollution.
Some models will cost the same as combustion engines as soon as 2024 and become cheaper the following year, according to a report by Bloomberg New Energy Finance.
Private fuel retailers like Rosneft-owned Essar Oil and Reliance Industries have doubled their market share in last three years, capturing close to 7 per cent of petrol sales and over 8 per cent of diesel sales.
Now, you can pick up 5 kg LPG cylinders at 20 Indian Oil Corporation petrol bunks in the city without paying any deposit. Customers just have to pay ₹1,354.50 per cylinder.
Oil prices have rapidly fluctuated over the past few years due to a supply glut and subsequent production cuts carried out by Organization of the Petroleum Exporting Countries (OPEC).