#Petrol Rates Hike

[15thaugust]

Stay informed about the latest petrol price in India. Follow us for updates on fuel rates and tips to manage your budget effectively.

Know more at https://tinyurl.com/muwpxzyh

[hexahomee]

Understanding the New GST Rate on Used Cars: What You Need to Know

The Goods and Services Tax (GST) Council has recently announced a significant change in the taxation of used cars, setting a uniform GST rate of 18% on all used vehicles, including electric vehicles (EVs). This decision, made during the council's meeting on December 21, 2024, aims to simplify the tax structure and eliminate discrepancies that previously existed in the taxation of second-hand vehicles.

The New GST Framework

Previously, the GST rate for used cars varied depending on several factors, including engine size and type of vehicle. For instance, petrol vehicles with engines over 1200 cc and certain diesel vehicles were already subject to an 18% GST. However, many smaller used vehicles and EVs were taxed at a lower rate of 12%. The recent change means that all used cars sold by registered businesses will now be taxed uniformly at 18%, which applies only to the profit margin—the difference between the selling price and the depreciated purchase price.

Who is Affected?

It's important to note that this new GST rate applies primarily to transactions conducted by registered dealers or businesses. Individuals selling their used cars privately will not be affected by this change; they will continue to operate under the existing tax framework, which does not impose GST on private sales. This means that casual sellers can still sell their vehicles without incurring additional tax burdens.

Implications for Consumers and Dealers

The increase in GST for used cars has raised concerns among stakeholders in the automotive market. Many experts believe that this hike could lead to a slowdown in sales within India's substantial pre-owned car market, valued at approximately $32 billion. The higher tax rate may deter potential buyers who are already navigating a market influenced by fluctuating prices and economic conditions.Moreover, while new EVs enjoy a lower GST of 5% to encourage adoption, the increase to 18% for second-hand EVs could diminish their appeal in the resale market. This could potentially slow down the transition towards electric mobility as consumers might hesitate to invest in used EVs due to higher taxation.

Conclusion

In summary, the introduction of an 18% GST on all used cars sold by businesses marks a significant shift in India's tax landscape for automotive sales. While this move simplifies the tax structure, it also poses challenges for both dealers and consumers. As stakeholders adjust to these changes, it will be essential to monitor how this affects sales trends in the used car market moving forward. For individuals looking to sell or buy used cars, understanding these new regulations will be crucial in navigating their transactions effectively.-Written By Hexahome

[masr356]

Business News Live Today December 18, 2024: UK inflation likely to rise amid hike in cigarette, petrol rates | masr356.com

Dec 18, 2024 11:11 AM IST Business News Live: Get real-time updates on the biggest news from the world of business, stock market and more. Latest news on December 18, 2024: A customer uses a fuel pump at BP Plc petrol station near Guildford, UK. (Bloomberg/File Photo) Business News LIVE Updates Today: Follow for stories on Bill Gates, Elon Musk, Mukesh Ambani, Gautam Adani as we bring you…

[pakscimission]

Pakistan increases the price of petrol, diesel and LPG with inflation on the rise

The finance ministry announced new rates as part of the fortnightly adjustment, raising the price of petrol by Rs 3.72 per litre and high-speed diesel by Rs 3.29 per litre. Following the hike, the new prices for petrol and HSD are Rs 252.10 and Rs 258.38, respectively. Additionally, the prices of light diesel oil and kerosene oil were reduced by 48 and 62 paise per litre, respectively. Since…

[thestarlense]

Parliamentary Committee Approves Fuel Levy Hike

The Parliamentary Committee on Delegated Legislation, headed by Ainabkoi MP Samuel Chepkong’a, has approved a proposal to raise the road maintenance levy by Ksh10 per liter for both petrol and diesel. This adjustment, which increases the levy rate to Ksh28 per liter, aims to fund Kenya’s expanding road network without increasing fuel pump prices. During a meeting with the State Department of…

[ejesgistnews]

In a significant development that has further strained Nigeria’s economic landscape, the price of Compressed Natural Gas (CNG) has soared to ₦455 per liter, up from its previous rate of ₦200 per liter. This sharp rise comes amidst the Federal Government's push for Nigerians to convert their vehicles to CNG as an alternative to petrol, which has also seen skyrocketing costs since the full removal of fuel subsidies earlier this year. The price increase has sparked concerns among Nigerians, who are grappling with an already high cost of living. Where to Convert Your Car to CNG in Nigeria: Full List of Nine Locations Many are questioning the viability of CNG as a sustainable solution to the nation's fuel crisis, as the recent surge challenges the government’s goal of reducing fuel costs by promoting alternatives to petrol. What Economist and Analysts are Saying?  Economists and energy analysts have raised alarms, arguing that the price hike contradicts the government’s promise of affordability in switching to CNG. "The intent was to create a cheaper fuel option for Nigerians, yet we are seeing prices soar," commented energy analyst Ibrahim Adeyemi. "This trend could make it difficult for Nigerians to bear the cost of fuel conversions and negate the intended financial relief." The Federal Government had introduced incentives to encourage the use of CNG in a bid to lessen the impact of fuel subsidy removal, which caused a drastic spike in petrol prices and inflation. A government official emphasized that the transition to CNG was supposed to ease the economic pressure on citizens, but acknowledged that fluctuating CNG prices present a "new challenge." Many Nigerians have already expressed frustration at the high conversion costs, which range between ₦200,000 and ₦500,000 per vehicle. For commercial drivers, who rely on daily earnings, these conversion costs are almost unaffordable, and the additional burden of higher CNG prices has only intensified their financial woes. Amid the backlash, some are calling for government intervention to stabilize CNG prices, arguing that without substantial support or regulation, the promise of affordable energy alternatives remains out of reach for most Nigerians. Ejes Gist News understands that as the situation unfolds, the government faces pressure to reassess its energy strategy and provide clear solutions to ensure that the intended benefits of the CNG transition reach ordinary Nigerians without further compromising their economic well-being.

[odnewsin]

Petrol, diesel commission hiked; no change in retail price

New Delhi: Commission paid to petrol pump dealers on sale of petrol and diesel has been hiked without change in retail price but rates will go down in several places in states such as Odisha, Chhattisgarh, and Himachal Pradesh on account of intrastate freight rationalisation. Commission on sale of petrol has been hiked by 65 paise a litre and that on diesel by 44 paise per litre. Alongside, the…

[15thaugust]

Planning a road trip? Keep track of petrol prices in your area for a cost-effective journey. Follow us for timely updates.

Read more at https://tinyurl.com/muwpxzyh

[mynewshq]

Fuel landing cost rises, marketers fear high Dangote petrol price

Oil marketers are concerned about the delay in announcing the price of Premium Motor Spirit, popularly called petrol, being produced by the Dangote Petroleum Refinery, as they noted that the landing cost of imported PMS is now about N1,120/litre. Dealers stated that a high PMS price from the Dangote refinery would lead to the importation of the commodity by marketers since the government has opened up the market for competition. In July this year, the Major Energies Marketers Association of Nigeria revealed that the landing cost of PMS was N1,117/litre. The landing cost is simply the price at which the commodity lands on Nigeria’s shores. While the pump prices of petrol ranged between N600 and N700/litre in July, the cost was raised last week to between N855 and N897/litre by the Nigerian National Petroleum Company Limited, while some independent dealers hiked their prices to above N1,000/litre. It was also gathered on Monday that the delay in the release of the price of Dangote petrol had further made oil marketers deepen discussions with their foreign partners in a bid to start petrol imports. The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, stated that IPMAN was speaking with its partners abroad while awaiting Dangote petrol price, but noted that a high cost from Dangote would lead to massive PMS importation. “On the landing cost of petrol, we are waiting for our foreign partners to calculate how much it will cost to bring the product to Nigeria. This is so that independent marketers will also see how to import the commodity. So we are waiting to get the data from them. “I’ll tell you the actual landing cost once we get the data from our foreign partners. So if the landing cost is cheaper than what the Dangote refinery will sell, then we will see how to bring in the product. “You know, it is now an open market, so anywhere we see a cheaper rate with good quality, we will buy from there. We don’t know the price of Dangote PMS. We are waiting for the refinery to release the price. However, we are discussing it with our foreign partners,” he said. Maigandi explained that allowing multiple importers of the PMS would ensure availability and competition. “One advantage of allowing everyone to bring in the product is that there will be guaranteed availability of products. “There is also going to be competition. Once this happens, everybody will try to see how they can sell their products and buy another one. It is only when you sell what you have that you can generate profit,” he stated. Dangote petrol price An official of the Dangote Group said the President of the group, Alhaji Aliko Dangote, will do everything possible to beat down the price of petrol. The official who preferred not to be mentioned because he was not authorised to speak on the matter, said Dangote would sell PMS in Nigeria whether or not the Nigerian National Petroleum Company Limited agrees to be its off-taker or not. According to the source, Aliko Dangote is a nationalistic man who loves the country, and he is ready to make sacrifices for the sake of the masses. He recalled how the refinery brought down the price of diesel from about N1,600 to N950 before it started hovering around N1,100 and N1,200 due to foreign exchange fluctuations. “When we started diesel, the product was around N1,700. We crashed the price to N1,200 and later, N950, before it now hovers around N1,100 and N1,200. Those who were milking the nation with dirty diesel saw it and they reduced their cost too. We will do it again,” the source stated. Asked if Dangote can sell his PMS locally in the face of the seeming refusal of the NNPC to work with the refinery, the source replied, “Why not? We are going to sell locally; Alhaji Aliko Dangote is a nationalistic Nigerian; he loves this nation, and he is ready to make sacrifices. ‘We will bend for the country. We have high-quality PMS for the country. Some people who are importing fuel and some owners of refineries and blending plants in foreign countries don’t want this to happen. Their $117bn shipping business to West Africa is at stake.” When the official was asked to disclose when the PMS will be out, he said, “Don’t worry, we are on course. We are ‘talk and do’. When we talk, we make it happen.” The official, however, mentioned that the Dangote Group is still waiting to hear from the NNPC, but will take its decision if the state-owned company refuses to work with it. News HQ reports that the NNPC and the Dangote refinery have yet to agree on the modalities for the sale of the latter’s PMS. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote PMS unless it is cheaper than that of the international market. This is contrary to claims by Aliko Dangote that the refinery was waiting for the NNPC to roll out its product. The NNPC also declared that Dangote and any other domestic refineries are free to sell directly to any marketer on a willing buyer, willing seller basis, saying it has no desire or intention to become the distributor for any entity in a free market environment. “The recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market. In fact, if current prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market. Soneye stated that the Dangote refinery could lower its price if it felt the new prices were too high. “We emphasise that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the DRL. The NNPC Ltd will only fully off-take PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria,” the NNPC said. Our correspondent reports that this statement from the NNPC is an indication that the NNPC is not ready to stop importation, especially as its refineries have yet to become operational. Since the unveiling of its PMS, the NNPC appeared to have turned its back against the Dangote refinery. While unveiling the 650,000-capacity refinery, Aliko Dangote, stated that the facility would roll out petrol whenever the NNPC was ready. Dangote disclosed that the petrol would get to the filling stations in the next 48 hours (from Tuesday) after all arrangements with the NNPC were concluded, saying the queues will be over soon. The group president emphasised that the NNPC is the company that would sell and distribute the product, under the current naira crude sale arrangement. “Once the NNPC is ready, we roll,” Dangote emphasised. But it seems the talks between the two companies have collapsed and this means fuel importation will continue to gulp N2tn every month, perhaps until the government refineries are fixed. In the past few days, the NNPC has in different statements denied that it would fix the price for Dangote or be its sole distributor. This was after the state-owned energy firm said it was given a September 15 timeline by the refinery to lift its petrol, a claim the Dangote official denied. Read the full article

[salinastaxicabservice]

5 Reasons to Choose Salinas Taxi Cab Service for Your Next Ride

Are you searching for reliable transportation in Salinas? Look no further than Salinas taxi cab service! Whether you need a ride to the airport, a quick trip across town, or transportation for a special event, We've covered you with our fleet of comfortable and efficient taxis. 

Why Choose Salinas Taxi Cab Service?

Salinas taxi cab service stands out from the rest with our commitment to customer satisfaction and top-notch service. 

Here's why our customers choose us time and again:

Reliability: We understand the importance of punctuality. Count on us to arrive on time every time, ensuring you reach your destination promptly.

Professional Drivers: Our drivers are experienced, licensed, and courteous. They know the Salinas area well and ensure you take the best routes to avoid traffic and reach your destination efficiently.

24/7 Availability: Need a taxi late at night or early in the morning? We operate around the clock to serve your transportation needs whenever you need us.

Clean and Comfortable Taxis: Step into a clean and well-maintained taxi every time. Your comfort and safety are our priorities.

Affordable Rates: Enjoy competitive fares with no hidden fees. We believe in transparency and providing excellent value for your money.

It often happens to us despite having our convenience. We prefer to travel by taxi. Do you know the reason behind this change? The reason is the comfort and convenience of traveling in a cab. There's no rush or tension in finding the fastest route. You don't have to worry about driving or anything. All you have to do is book a cab and get to your desired location. This may be why taxi cabs are in so much demand these days and why more people opt for them. Even if they already have their vehicle. 

Another benefit of booking a cab while traveling is that you can also have a shared taxi. A Salinas taxi cab service is basically a cab where more than one individual can travel together. They can split the bill when they have to reach the same destination. This is also beneficial for traveling to a faraway place. Splitting the bills helps your pocket and will only stop you from traveling sometimes. 

Another one of the primary reasons people opt for a shared cab is the hike in petrol prices. An increase in petrol prices will lead to two factors. People with personal vehicles are reluctant to use them due to the high prices. The second one is the fact that due to the hike in petrol prices. Rates of public transport and taxi fares also rose. This leads people to opt for a shared taxi where they can split the charges—at the same time, traveling while still staying within their budget. Let's look at some more advantages of the Salinas taxi cab service. 

Salinas taxi cab service is your dependable choice for all your transportation needs in Salinas, with our commitment to reliability, professional drivers, and affordable rates. We ensure that every journey with us is safe, comfortable, and stress-free. Whether you're heading to the airport, exploring the city, or attending a special event. Count on us to get you there on time and in style. Experience the difference with Salinas taxi cab service, where your satisfaction is our priority. Book your ride today and discover convenient travel with us!

If you are looking for the cheapest Salinas taxi cab service to visit every place, then we have a great offer for you. Now, you can travel in California's terrible summer without any stress and discomfort. Trust Salinas taxi cab service for your next journey and experience transportation done right. Your satisfaction is our guarantee!

[head-post]

Rising oil prices jeopardise economic stability

The price of West Texas Intermediate (WTI) crude oil has been steadily rising, topping $90 a barrel for the first time last week.

Further price increases will have a negative impact on consumers, especially on petrol and transport costs. Oil supply dynamics remain out of control despite the Federal Reserve’s rate hike.

Before the Covid-19 pandemic, WTI crude traded between $50-60 per barrel for a year. The 2020 lockdown forced people to stay home, which crashed demand for oil and collapsed the price.

In response, US oil production fell by 3 million barrels per day. However, demand recovered faster than expected and the resulting imbalance triggered a rise in oil prices.

Read more HERE

[ejesgistnews]

The administration of President Bola Tinubu has implemented yet another hike in petrol prices, with residents in Lagos now paying N1,025 per litre, while Abuja residents face N1,060 per litre. Read Also: Sanwo-Olu Sues EFCC Over Alleged Planned Arrest, Prosecution The increase, announced through the Nigerian National Petroleum Company Limited (NNPCL), marks a significant rise from last month's rates of N1,030 in Abuja and N998 in Lagos at NNPCL stations. Other fuel stations were previously charging between N1,150 and N1,200 per litre.   The updated prices were displayed Tuesday morning at NNPCL stations in Lagos and Abuja, sparking concern among citizens already grappling with rising costs.   Since President Tinubu's decision to end the fuel subsidy shortly after taking office on May 29, 2023, petrol prices have surged from an initial N145 per litre to over N1,000, heightening economic pressures across the nation.

[shahananasrin-blog]

[ad_1] ISLAMABAD: In another massive hike in the rates of petroleum products on Friday after the interim set-up took over the reins in August, the price of petrol was increased by Rs26.02 per litre while that of high-speed diesel (HSD) by Rs17.34 per litre. On Thursday, speculations were rife that the prices of petrol and HSD could go up by Rs14 and Rs16 per litre, respectively for the next fortnight, while the kerosene oil price would also get costlier by about Rs10 per litre. However, the increase was far more than expected. A finance ministry statement said, “Owing to the increasing trend of petroleum prices in the international market, the government has decided to revise the existing consumer prices.” After the hike, the price of petrol reached a historic high of Rs331.38 per litre while HSD is available at Rs329.18 per litre. The new prices were effective from midnight. The caretaker government had on Sept 1 authorised price hikes for both petrol and diesel, propelling petrol prices to surpass the historic Rs300 per litre threshold for the first time in the country's history. This new increase will further burden the citizens who are already grappling with ongoing economic challenges, including soaring inflation, rupee depreciation against the dollar, inflated utility bills, and escalating prices of essential commodities. The prices of kerosene oil and light diesel oil (LDO) were not announced. Read more: Petrol price likely to go up by Rs16 per litre Diesel is widely used in transport and agriculture sectors, and therefore, any increase in its price causes a massive inflationary impact. Kerosene oil is used for cooking purposes in remote areas, especially in the northern parts of the country where the LPG is not available for cooking. Pakistan Army is also its key user in these areas. Meanwhile, the benchmark international Brent prices went beyond $92 per barrel on Wednesday against $88 in the first week of September. On Thursday, sources said that the government was all set to pass on to the consumers about 88 paisas per litre impact of increase in sale margins for petroleum dealers and marketing companies already approved by the Economic Coordination Committee (ECC) of the Cabinet last week. The import parity price for petrol, diesel, and kerosene oil had increased by about Rs13, Rs14 and Rs10 per litre, respectively since Sept 1, but sale prices were estimated to go up by Rs13, Rs16 and over Rs10 per litre as per product imports by the Pakistan State Oil. Jet fuels are also estimated to be costlier by Rs10 per litre. Similarly, the sources said, the petrol and diesel prices were estimated to cross Rs320 and Rs325 per litre, respectively. The kerosene oil rate would be on the higher side of Rs240 per litre. The increase in the prices of petroleum products came on the heels of over 27.4 per cent increase in the August rate of inflation that would also have a lag effect on general prices in the country over the coming days and weeks. [ad_2]

[volkanoosblog]

ADNOC p2.5 outdoor LED screen project by volkanoo at abhudhabi petrol station

In a remarkable project in Abu Dhabi, Volkanoo, a renowned LED display solutions provider, successfully installed two significant Outdoor LED screens for ADNOC, the (Abu Dhabi National Oil Company). ADNOC, a leading diversified energy group wholly owned by the Abu Dhabi Government, specializes in the exploration and production of crude oil and natural gas. These two LED screens were strategically placed at an ADNOC petrol station, enhancing its visual appeal and engaging customers with captivating content. In Toady LED screens play a great role in visualizing a company’s services & product information providing the customer has better visuals even at long distances. LED screens enable them to create far larger displays and more dynamic visuals. The LED screen is used in many industries like shopping malls, retail stores, corporate lobbies, sports arenas, airports, theatres, restaurants, Conference halls, etc. LED screen acceptance increased in the current season.

LED screen in the petrol station

Volkanoo installed a significant outdoor LED screen for the respected Abu Dhabi National Oil Company (ADNOC) in the heart of Abu Dhabi, home to awe-inspiring architecture and cutting-edge technology. Volkanoo designed this project with innovative technology that sets it unique from other LED screen projects. We designed two LED screens on a different model. This LED display featuring a p2.5 pixel pitch is used to build.

The technical power of the ADNOC LED screen which supports 4K and 8K video quality, brings viewers into a world of unprecedented clarity and realism. The capacity of the LED screen to produce ultra-high-definition graphics establishes new benchmarks in outdoor advertising, whether displaying promotional content, attractively compelling adverts, or engaging video footage. it is a main feature of LED Displays Video Quality is important to factor that customers can read the information at long distances with High quality resolution. high resolution reduces the skip rates of customer reading time.

Two Control systems are available for LED screens one is a pc connected to an Ethernet cable or LAN, other one is a PC, Pad, and mobile phone that can connect through wifi.16 GB internal storage is provided on these screens. Detail the technological capability of LED screen brightness adjustment in different lighting environments like day and night. ADNOC outdoor LED screen Blue, Red, and green color combinations are available, color can be changed due to which color is the best for the environment. These color enables each pixel to emit variable intensities of these fundamental colors, allowing for the display of an endless collection of colors. The LED screen can produce a wide range of bright shades by combining these fundamental colors in varied quantities.

Features of these screens

full-screen display

extensive viewing angle

HD, 4K, and 8k video quality

brightness adjustment

The LED display offers a horizontal viewing angle of 130 degrees and a vertical viewing angle of 140 degrees, providing a clear and comprehensive view from various perspectives. The hike vision module size used is 320*160, offering a precise and optimal display for enhanced vision and visual experience.

The LED screen technology make more creativity in visuals. volkanoo made experts in the field of supply and repair of LED screen in Dubai, UAE. Today more industries are adopting this technology to improve business advertising through LED Displays. Volkanoo uses high-quality LED screen materials to make LED screen displays. LED Technology is a long journey and we continue to innovate.