Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Fuel crisis
In the grim scenario of continued rise in oil prices, presently hitting at $127 a barrel in international market (on May 30, 2008) and adding yet more fuel to the prevailing fire of global inflation, the nations all the world over are facing it hard to adjust their economies to the fast-changing cost-structure.
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Price hike modest, says Manmohan
Prime Minister Manmohan Singh, in an address to the nation on Wednesday, explained the circumstances under which the government effected the revision in the fuel prices. "I know that the price increases we have had to announce today will not be popular, though they are only modest,' he said while noting that the Centre was taking a revenue hit of Rs.22,660 crore during the 10 months of the current fiscal.
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Widespread shock, anger over fuel prices
The increase effected by the Union Government in the prices of petrol, diesel and cooking gas on Wednesday came as a shock for the residents of Chandigarh and Panchkula and many of them rushed to the nearby petrol pumps to fill the tanks of their vehicles at the old rates as the new prices would be effective from midnight. Several prominent petrol pumps, especially the CITCO service station in Sector IX, saw serpentine queues. However, some pumps put up "Not Available' signboards and when customers quarrelled with the staff, they were curtly told that the supplies had run out.
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Rising coal prices put pressure on Indian cos
They call it black gold and its price is on the rise, true to its name. Relentless buying by energy starved countries, is pushing up the prices of coal in the global markets. More specifically, the price of Indonesian coal has shot up from around $53 a tonne in May 2007 to $121 now, thereby reflecting an increase of a whopping 128% in a year. According to Argus Coalindo Indonesian Coal Index report, the price of Indonesian 6500 KCAL is $121.41 a tonne, while 5800 KCAL is $93.26 and 5000 KCAL is $ 72.86.
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Fuel price spike to hit car sales
Companies May Lower Tags, Offer More Discounts To Offset Impact The hike in petrol, diesel prices will fuel a slowdown in the auto industry in the short-term, feel car majors like Maruti, Hyundai and Honda. And, it may spell good news for consumers in terms of lower prices and greater discounts from car makers, who will try to offset the negative impact on the industry, which is already hit by higher interest rates and tighter retail financing.
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Biting the petro bullet
After considerable hesitation, the government has announced a package of measures to cope with the heavy burden imposed by the high global oil prices. Its most visible component is the hike in the retail prices of petrol and diesel
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Petrol price up by Rs. 5, diesel Rs. 3, LPG Rs. 50
The United Progressive Alliance (UPA) government on Wednesday announced a steep hike in fuel prices. It increased the price of petrol by Rs. 5, diesel by Rs. 3 and LPG by Rs. 50 a cylinder, but did not touch kerosene. Almost all Opposition parties, the Left and the UPA's allies criticised the government for the "anti-people' step and threatened to launch nationwide protests. The left parties called for a "powerful, nationwide protest movement' from Thursday till June 11.
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Bengal cushions hike with sales tax cut
Following a prod by CPI(M) state secretary and Left Front chairman Biman Bose, West Bengal Finance Minister Asim Dasgupta on Wednesday announced sales tax cut on petrol and diesel to "provide some relief' to the common people even as the state Government urged the Centre to reconsider the fuel price hike. As a result of the announcement, consumers in West Bengal will be paying Rs 2.09 less per litre of petrol and Rs 1.36 less for diesel than they would have following the price hike had the state not cut taxes.
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Fuel Pricing (Advertisement)
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Fuel Pricing (cartoon)
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