Search Result for : Fuel

The Dollar Business Bureau Mercedes Benz is planning to bring in BS VI emission compliant models into India in 2018. A press release to the media said that the company is also willing to forge partnership with oil firms for higher grade oil needed for these models. The car maker has already sought help from various ministries, including Ministry of Road Transport and Highways, which has asked them to get in touch with the oil and gas firms. "We would be ready as early as 2018. We could bring the first set of vehicles in 2018 into the country," Mercedes-Benz India Managing Director and CEO Roland Folger told PTI when asked about the company’s plans regarding launch of vehicles compliant with Bharat ...

The Dollar Business Bureau Inflation based on Wholesale price index (WPI) fell to 0.90% in June, lowest in eight months as the prices of food commodities and manufactured goods declined. Inflation was 2.17% in May 2017 and (-) 0.09% in June last year, according to the official data released by the Commerce Ministry on Friday. “Build up inflation rate in the financial year so far was -0.44% compared to 3.71% in the corresponding period of the previous year, it said. The prices of major food items such as vegetables, potatoes and pulses witnessed a sharp decline in the month. The prices of potato, pulses and vegetables dropped by 47.32%, 25.47% and 21.16%, respectively. The sharp decline in food items prices last month could be due to the agitation by ...

The Dollar Business Bureau With a view to bringing down logistics cost and pollution levels, the Government has decided to bring a policy for promoting the use of alternative fuel, Road Transport and Highways Minister Nitin Gadkari said on Thursday, while adding that the logistics cost is quite high in India when compared to China and European countries. “We are going to bring in a policy to promote use of alternative fuel which is indigenous and pollution free as it will help in saving lot of time, bring down logistics cost by 4-6% which is currently about 14-18% unlike in China where it is 10-12% and in European countries where it is 12-14%,” Gadkari said, while inaugurating an event organized by ASSOCHAM in New Delhi. The minister ...

The Dollar Business Bureau China will ban the imports of coal from July 1 at small ports, according to a report by the state-run newspaper - China Securities Times on Wednesday. China, the world's largest coal consumer, tightens the supply of this fuel as part of its efforts to manage glut as well as smog. The move to ban coal imports is one of the latest attempts by the country to control the coal supply during summer and also to support the prices, which have fluctuated in the previous year in the wake of a series of regulations which are aimed to keep the prices of the fuel high enough so that they can support the miners.  The ban will only cover tier II ports that were set up with approvals ...

The Dollar Business Bureau The Goods and Services Tax (GST) will have adverse impact on the oil and gas sector as it will have to conform to the current tax regime as well as to GST, the ICRA-ASSOCHAM report said. The GST regime is expected to be rolled out from July 1, 2017. The next meet of GST Council is to be held on June 18, in which it will decide upon the lottery tax and e-way bill. “The oil and gas industry would have to comply with both the current tax regime as well as the GST regime leading to double compliance cost because five petroleum products viz crude oil, natural gas, motor spirit, high-speed diesel and aviation turbine fuel have been excluded from the GST, while other ...

The Dollar Business Bureau  The country’s retail inflation declined sharply to 2.99% in April against the 3.89% in March, on account of lower prices of food items such as vegetables and pulses that recorded a deflationary trend.  In April 2016, the consumer price index (CPI) inflation was at 5.47%.  Pulses and products prices witnessed a sharp decline in April, with a deflation of 15.94%, whereas prices of vegetables fell by 8.59%. In March, the two items recorded a deflation of 12.42 and 7.24%.  The fuel and light segment recorded an inflation of 6.13% in April, higher as compared to 5.56% in March.  Fruit prices grew at 3.78% in April, lower than 9.35% in the previous month, according to the Ministry of Statistics and Programme Implementation ...

The Dollar Business Bureau  The Organisation of the Petroleum Exporting Countries (OPEC), which is contributing to a recent deal to cut oil production, restricted their output at 31.85 million barrels per day consecutively for the second month in April, as revealed in the data released by S&P Global Platts. This matches to the March data  which means the cartel has stabilised production at 80,000 bpd level which is below the agreed quota of 31.77 million-barrel (without Indonesia). Saudi Arabia reduces output to 9.97 million barrels per day in the last month, just less than the restriction of 10.1 million-barrel that the Kingdom had agreed in November last year. Iraq, OPEC’s second-largest producer, boasts production 9,000 barrels more than its quota. Iran restricts its production at 3.77 million barrels per ...

 The Dollar Business Bureau The annual rate of inflation based on the wholesale price index (WPI) for October has reduced to -3.81% as against -4.54% recorded in September and 1.66% during the same month of last fiscal, according to the government data released on Monday. “The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of October, 2015 rose by 0.1% to 176.7 (provisional) from 176.6 (provisional) for the previous month,” the government said in a statement. The wholesale price index has been witnessing downfall for the past 12 months in the wake of the slowdown in commodity prices in the international market. So far, the build-up inflation rate in the current financial year has been ...