The Central government has raised the excise duty on petrol and diesel prices by ₹2 per litre. An official notification by the Department of Revenue, Ministry of Finance, said the change would take effect from April 8.
The initiatives are part of the state's broader strategy to stimulate economic growth and enhance the ease of doing business.
In a move which would have a far-reaching impact on the automobile sector, the Maharashtra Government has a set up a seven-member committee to study the possibility of banning petrol and diesel vehicles in order to phase them out in the Mumbai Metropolitan Region (MMR). The MMR comprises Mumbai city as well as areas of neighbouring Thane, Raigad and Palghar districts, taking worsening air quality into account.
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday laid emphasis on the importance of reducing the use of fossil fuels and decarbonization in different sectors, and further said that as part of government's efforts in this direction, the target of blending 20 per cent ethanol in petrol will likely be achieved in the coming two months.
Global automaker Range Rover on Thursday announced the start of sales for the 2025 'Made in India' Range Rover Sport in the country.
The death toll from a massive explosion at a fuel depot in central Italy rose to five after the body of the last missing worker was found, Italian authorities confirmed.
Under the EBP programme, public sector oil marketing companies (OMCs) sell ethanol blended with petrol.
The move marks the end of a levy introduced in July 2022, and is set to bring relief to oil conglomerates Reliance and ONGC, as their gross refining margins may get a lift.
India's petrol, aviation turbine fuel, and LPG consumption shot up in October this year compared to the same month last year, reflecting the rising demand for these fuels in a growing economy.
The Minister cited global factors such as the war in the Middle East and voluntary cuts in oil production, which are influencing the oil prices in the global market.
