#petrol diesel price excise duty

[new-haryanvi-ragni]

Petrol, Diesel Price today, December 6: Check latest fuel rates in your city

Petrol, Diesel Price today, December 6: Check latest fuel rates in your city

The Center reduced the excise duty on gasoline by Rs 8 per litre and on diesel by Rs 6 per litre in May of this year, which resulted in the last big decrease in fuel prices. source https://zeenews.india.com/economy/petrol-diesel-price-today-december-6-check-latest-fuel-rates-in-your-city-2544542.html

[avaaltechnologysolutions]

1. Advantages and disadvantages of various vehicle types: Different vehicle types have their own pros and cons. For instance, trucks are best for long-term cargo hauling due to their durability and ample room.

2. Ensuring goods’ safety while being transported: This involves proper packaging, securing the load, regular inspections, adhering to safety regulations, and using reliable transportation methods.

3. Steps to start a truck business: Key steps include performing market analysis, drafting a business plan, developing a brand, formalizing business registration, acquiring necessary licenses and permits, securing funding, setting pricing, and acquiring equipment.

4. Frequency of gasoline tax payment: The central and state governments of India levy taxes on petrol and diesel. The central authorities apply excise duty at the rates of Rs.19.90/litre and Rs.15.80/litre respectively.

5. Completing a contract with a factoring firm: This involves finding a reputable factor, providing them with information about your accounts receivable and customers, selling the approved invoice to the factor, and receiving a percentage of the total amount immediately.

6. Locating a driver: This can be done using the Device Manager in Windows, the Run window, the Command Prompt, or a free third-party utility.

7. Benefits of Hot Shot Loading: Hotshot deliveries are known for their cost-effectiveness, speed, flexibility, and efficient logistics.

8. Using the TMS to look for loads: Avaal TMS is a transportation management software that allows you to find and bid on loads.

9. Discussion with a broker: This involves understanding the broker’s requirements, negotiating terms, and building a professional relationship. It’s important to ask the right questions and provide accurate information about your capabilities and needs.

10. Definition of Rate Confirmation: A rate confirmation is a document that outlines the details of a shipment, including the rate, pickup and delivery locations, and other relevant information. It is agreed upon by both the carrier and the broker or shipper.

11. Bill of Lading: A Bill of Lading is a legal document between the shipper and carrier detailing the type, quantity, and destination of the goods being carried. It serves as a shipment receipt when the carrier delivers the goods at the predetermined destination.

12. Where to look for a job as a dispatcher: Job opportunities for dispatchers can be found on job search websites, company websites, industry-specific job boards, and networking events.

13. Papers necessary for freight clearance: These may include a Bill of Lading, Commercial Invoice, Packing List, and a Certificate of Origin. The exact documents required can vary depending on the nature of the goods and the specific regulations of the importing and exporting countries.

14. Nuances regarding contract termination: This refers to the specific conditions and procedures for ending a contract, which can vary based on the terms of the contract and the laws of the jurisdiction.

15. U.S. trucking industry jargon: This refers to the specific terms and phrases commonly used in the U.S. trucking industry. Examples include “deadhead” (traveling with an empty cargo load), “reefer” (a refrigerated trailer), and “bobtail” (a semi-truck operating without a trailer).

16. Lessons in Marketing: This could cover a wide range of topics, from understanding your target audience and developing a marketing strategy, to leveraging digital marketing tools and measuring the effectiveness of your marketing efforts.

[earaercircular]

Mega subsidies for fossil fuels

Fossil fuels are massively subsidised worldwide. The IMF started calculating and arrived at a total subsidy amount of 7 trillion dollars.[1]

Kerosene, the fuel used to power aircraft, is not subject to excise duties. Belgium has permanently reduced VAT on gas. Diesel for the professional market enjoys a lower excise duty. Fuel cards for company cars are fiscally advantageous.

These are just a few of the many ways in which fossil fuels are handled with kid gloves by the tax authorities. But Belgium is not the only country where this happens. Worldwide, the burning of fossil fuels yield $ 7,000 billion more to the tax authorities than is currently the case, the IMF has calculated. That is 7.1 percent of global worldwide GDP.

Of that amount, 18 percent is awarded in the form of explicit subsidies: direct financial interventions in the selling price. In 2020, those explicit subsidies still accounted for USD 500 billion, compared to USD 1,300 billion last year. This also includes government interventions to compensate the effects of the high energy price. Think of the 'basic packages' that the Belgian government paid to energy consumers last winter. They are expected to decrease again

"Efficient" price

The IMF also considers unaccounted for costs for global warming, traffic congestion and air pollution as subsidies. It is about the difference between what petrol costs at the pump and what petrol would have to cost to slow down consumption enough to limit warming to 1.5 degrees. The latter price is called the 'efficient' price. Last year, 80 percent of all coal was sold at less than half the efficient price.

These implicit subsidies will continue to rise, the IMF expects. This is because the use of fossil fuels is still increasing, especially in non-Western countries. In those countries, the impact on global warming and air pollution is greater. The total grant amount is expected to exceed 8 percent of global GDP by 2030.

If all fuels were sold at efficient prices, for example by introducing a global carbon tax, it would generate a huge sum: $4,4 trillion or 3.6 percent of global GDP. Driving, flying and heating would therefore become much more expensive. But if the proceeds are used to reduce labour costs, for example, the effect may be neutral on balance. In that case, CO emissions would fall by 43 percent in the next 7 years. It would also prevent 1.6 million premature deaths from air pollution. “Even if you don't factor in the climate benefits, reforming fuel prices is beneficial because of cleaner air and elimination of price distortions.”

The most extreme examples of subsidising fossil fuels can be found in countries such as Saudi Arabia and Iran. Because those countries produce a lot of oil, gasoline and diesel cost very little at the pump, often even less than it costs to pump, refine and transport the oil. In European countries such as Germany, France and Italy, the price of a litre of petrol is close to the efficient price, and sometimes even slightly above it.

But for coal and gas, the European countries also fail to achieve the efficient price. However, the largest subsidies are awarded in non-Western countries. Indonesia, Turkey and China would have to multiply the price of coal or gas to arrive at an efficient price.

Europe is still a relatively good student, the IMF notes. The EU accounts for 310 billion of the total amount. That is less than India or Russia. The US comes out at 760 billion. By far the largest subsidy provider is China, with USD 2,200 billion.

Less than the Netherlands, more than Denmark

The IMF has performed calculations for 170 individual countries. So also for Belgium. The explicit subsidies (direct interventions in the selling price) mainly concern the gas market. Last year it was 4.1 billion dollars (3.8 billion euros). Implicit subsidies (including reduced taxes, but also climate and pollution costs that have not been taken into account) are particularly relevant for diesel: 4.6 billion euros. The implicit subsidies total 8.9 billion euros. Less than the Netherlands (13.9 billion euros), but more than Denmark (2.2 billion).

For Germany, the IMF has also calculated what the effect of an optimal fuel price reform would be. If all fossil fuels were sold at “efficient” prices, it would cost $12 billion but generate $18 billion in environmental benefits. There would be 20 percent fewer deaths from air pollution, and 15 percent fewer greenhouse gases.

Source

Ruben Mooijman, Megasubsidies voor fossiele brandstoffen, in: De Standaard, 25-08-2023, https://www.standaard.be/cnt/dmf20230824_96591052

[1] This paper provides a comprehensive global, regional, and country-level update of: (i) efficient fossil fuel prices to reflect supply and environmental costs; and (ii) subsidies implied by charging below efficient fuel prices. Globally, fossil fuel subsidies were $7 trillion in 2022 or 7.1 percent of GDP. Explicit subsidies (undercharging for supply costs) have more than doubled since 2020 but are still only 18 percent of the total subsidy, while nearly 60 percent is due to undercharging for global warming and local air pollution. Differences between efficient prices and retail fuel prices are large and pervasive, for example, 80 percent of global coal consumption was priced at below half of its efficient level in 2022. Full fossil fuel price reform would reduce global carbon dioxide emissions to an estimated 43 percent below baseline levels in 2030 (in line with keeping global warming to 1.5-2oC), while raising revenues worth 3.6 percent of global GDP and preventing 1.6 million local air pollution deaths per year. Accompanying spreadsheets provide detailed results for 170 countries. https://www.imf.org/en/Publications/WP/Issues/2023/08/22/IMF-Fossil-Fuel-Subsidies-Data-2023-Update-537281#:~:text=Globally%2C%20fossil%20fuel%20subsidies%20were,warming%20and%20local%20air%20pollution.

[aditya-kapoor]

Government policies and taxation affecting fuel prices in Haryana

Fuel prices in Haryana are subject to government policies and taxation, which significantly impact the cost of transportation and daily life. The government imposes taxes such as excise duty, value-added tax (VAT), and cess on fuels like petrol and diesel. These taxes are crucial sources of revenue for the state. Additionally, fuel prices are influenced by global crude oil prices, currency exchange rates, and transportation costs. Fluctuations in these factors can lead to variations in fuel prices. As a result, the government's taxation policies and external market conditions play a vital role in determining the fuel prices in Haryana, affecting the budget of its residents and the overall economy.

[myhelpbooks]

Petrol prices in Chandigarh are determined by the international crude oil market. The current price of petrol in Chandigarh is ₹ 79.51 per litre. This price may vary from day to day depending on the fluctuation in the international crude oil market. The price of petrol in Chandigarh is set by the Indian Oil Corporation (IOCL) which is the largest oil marketing company in India. It is based on the average cost of crude oil in the international market. The IOCL also adds taxes which are applicable on petrol purchases in Chandigarh. The price of petrol in Chandigarh is also affected by the taxes levied by the Government of Punjab. The state government levies Value Added Tax (VAT), Central Excise Duty (CENVAT) and a road cess. All these taxes are included in the price of petrol in Chandigarh.

[best2daynews]

Petrol and diesel price may rise as duty hiked by Rs 3 per litre over global prices

Government has taken the bait provided by unusually low global oil prices to raise excise duty on petrol and diesel to raise revenue that has been severely impacted by a slowing economy.

[trading-apps]

What’s in Store for Oil Stocks After the Latest IEA Forecast?

The stock markets have had a shaky start in 2023, fuelled further by the routing of Adani shares with the release of the scathing Hindenburg report. Not far behind, various commodities, such as oil, have had a shaky start, as the jury is still out on China’s recovery.

The IEA Report

Against this backdrop, the IEA has released its monthly report stating a rise in global demand for oil by two million barrels per day, which will take the world's oil consumption to 101.9 million bbl. Even more so, it expects the oil markets to see a surplus as the Russian supply continues to be robust.

With China opening its doors again and the USA all set to refill its strategic reserves, the oil demand will remain buoyant in the first half of 2023. However, this may change after June, with the kicking in of the sanctions on Russian oil. 

Moreover, monetary tightening and recessionary fears may play a spoilsport for future oil demand. Besides, Russia has announced its plans to cut down oil output by a million barrels per day (bbl/d), against the IEA’s initial estimates of 1.6 million bbl/d.

But how will it pan out for oil stocks in India?

The Fortune Favours the Oil Conglomerate

With the oil demand set to hit a record high in FY23, refining margins could improve significantly, benefiting Reliance Industries (RIL). Besides, RIL’s SEZ refinery is already exempt from the levy of windfall taxes and additional excise duty (SAED) charges.

Moreover, refiners have seen their margins squeezed owing to the waning diesel spreads. This has been aggravated by the EU’s decision to build its stockpile before the sanctions on Russian gas and oil go into effect. The rise in demand, complemented by slower refinery throughput, will bode well for refining margins.

OMCs’ Stars Lack Sheen

But these positives are unlikely to flow for oil-marketing companies (OMCs) that are already reeling under heavy losses from 2022. This is because, despite an elevation in crude prices, the Indian government forced their hand by not allowing for a corresponding rise in retail prices.

Subsequently, while the PSU OMCs (HPCL, BPCL, and IOCL) did experience strong top lines in FY22, their bottom lines left a lot to be desired. This was reflected in the 20% and 10% drops in HPCL and BPCL share prices in the last year, respectively. 

On an aggregate level, OMCs have already posted losses exceeding Rs. 27,000 crore in the first six months of FY23. This is despite the moderation in oil prices over the strong Russian supply and the EU’s stockpiling efforts. They have stated under-recoveries totalling Rs. 1.1 lakh crores from petrol and diesel sales that have been cross-subsidised with ATF and naphtha sales.

Having said that, BPCL may still be able to post better performance, considering its high refining-to-marketing ratio. Moreover, relative to its peers, BPCL has better ROCE fundamentals. 

Additionally, IOC’s shares may remain resilient, as its business model is more refining-driven vis-à-vis HPCL and BPCL, thereby making its fortunes less dependent on marketing margins. But heavy debt pileups—the IOC’s gross debt went up by 30%—can be a cause for concern.

Finally, with the nation set to go to elections next year, the chances of retail price hikes seem bleak, which can further dampen the shine of oil companies in the stocks market.

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[theechudar]

Check Fuel Prices in Lucknow, Gandhinagar And Other Cities on January 16

Check Fuel Prices in Lucknow, Gandhinagar And Other Cities on January 16

Fuel Rates On January 16, 2023: Check Petrol And Diesel Prices In Your City Today. Ever since the government slashed the excise duty on the two primary automotive fuels in the country on May 21, 2022, a price freeze has been in place. India is on track to bolster its energy security with research in 20 per cent ethanol-blended petrol and talks of purchasing oil from Guyana in the long term.…

[new-haryanvi-ragni]

Petrol-Diesel rate today, November 28: Check latest fuel rates of your city

Petrol-Diesel rate today, November 28: Check latest fuel rates of your city

The Center reduced the excise duty on gasoline by Rs 8 per litre and on diesel by Rs 6 per litre in May of this year, which resulted in the last big decrease in fuel prices. source https://zeenews.india.com/economy/petrol-diesel-rate-today-november-28-check-latest-fuel-rates-of-up-noida-allahabad-varanasi-and-other-indian-cities-2540978.html

[journalistcafe]

एक लीटर डीजल-पेट्रोल पर कितना लगता है टैक्स ? जानें चार्जेस का पूरा गणित

एक लीटर डीजल-पेट्रोल पर कितना लगता है टैक्स ? जानें चार्जेस का पूरा गणित

केंद्र सरकार ने दिवाली के मौके पर आम आदमी को राहत देते हुए पेट्रोल-डीजल पर उत्पाद शुल्क यानी एक्साइज ड्यूटी में कटौती का फैसला किया है। केंद्र द्वारा पेट्रोल और डीजल पर उत्पाद शुल्क कम करने के बाद उत्तर प्रदेश समेत कई राज्य सरकारों ने ईंधन की कीमतों में कमी कर दी हैं। केंद्र सरकार ने पेट्रोल पर उत्पाद शुल्क में 5 रुपए और डीजल पर 10 रुपए की कटौती किया। केंद्र के इस फैसले के बाद चुनावी राज्य यूपी…

[vilaspatelvlogs]

Petrol Diesel Price: आज नहीं बदली पेट्रोल-डीजल की कीमतें, जानिए कितना है दाम

Petrol Diesel Price: आज नहीं बदली पेट्रोल-डीजल की कीमतें, जानिए कितना है दाम

पढ़ें अमर उजाला ई-पेपर कहीं भी, कभी भी। *Yearly subscription for just ₹299 Limited Period Offer. HURRY UP! ख़बर सुनें ख़बर सुनें सरकारी तेल कंपनियों की ओर से आज डीजल और पेट्रोल की कीमतों में कोई बढ़ोतरी नहीं हुई है। आज पेट्रोल और डीजल का दाम स्थिर है। इससे उपभोक्ताओं को काफी राहत मिली है। वहीं मुंबई में पेट्रोल का दाम अब तक के उच्चतम स्तर पर हैं। राजधानी दिल्ली में पेट्रोल और डीजल के दामों में…

[rudrjobdesk]

Petrol Diesel Price: कच्चा तेल हुआ महंगा, जानिए UP MP बिहार राजस्थान में पेट्रोल डीजल के दाम

Petrol Diesel Price: कच्चा तेल हुआ महंगा, जानिए UP MP बिहार राजस्थान में पेट्रोल डीजल के दाम

Photo:FILE Petrol Diesel Highlights तेल कंपनियों ने आज भी कीमतों में कोई बदलाव नहीं किया है महंगे क्रूड की वजह से कंपनियों को काफी नुकसान उठाना पड़ रहा है कीमतों में आखिरी बार बढ़ोतरी 6 अप्रैल, 2022 को की गई थी Petrol Diesel Price: यूरोप के दो देशों रूस और यूक्रेन के बीच जारी युद्ध के चलते कच्चे तेल की कीमतें थमने का नाम नहीं ले रही हैं। सोमवार को अंतरराष्ट्रीय बजारों में एक बार फिर कच्चे तेल…

[bharatlivenewsmedia]

Petrol, diesel prices remain unchanged after excise duty, VAT cut

Petrol, diesel prices remain unchanged after excise duty, VAT cut

Petrol, diesel prices remain unchanged after excise duty, VAT cut Petrol, diesel prices declined following following central government cut in excise duty.In Delhi, petrol cost Rs 96.72 per litre and in Mumbai, it cost Rs 111.35 per litre, while diesel cost Rs 89.62 per litre in Delhi and Rs 97.28 per litre in Mumbai.In Kolkata, the petrol price has been reduced to Rs 106.03 per litre after the…

[hemantjimin]

Petrol dealers' body seeks redress for losses from Centre's excise duty move

Petrol dealers’ body seeks redress for losses from Centre’s excise duty move

Days after the Center announced an excise duty cut on petrol and diesel, the All India Petroleum Dealers Association (AIPDA) has demanded that the government come up with a mechanism that does not cripple them financially. A report by LiveMint said that while the duty cut provided a slight relief to commuters, it pushed petrol pumps into losses amounting to nearly 2,100 crore because dealers had…

[theechudar]

Petrol Prices Above Rs 100 In Mumbai, Kolkata, Chennai; Check Today's Fuel Rates Here

Petrol Prices Above Rs 100 In Mumbai, Kolkata, Chennai; Check Today’s Fuel Rates Here

Fuel prices in the major cities of India remained unchanged for yet another day despite the ongoing fall in crude oil prices in the international market. Indian oil companies continued their six-month record of maintaining the same prices for petrol and diesel on Wednesday, December 14. Since the reduction in excise duty, which Union Finance Minister Nirmala Sitharaman announced on May 21, fuel…