Minutes after the Union Cabinet approved raising the cap on subsidised liquefied petroleum gas (LPG) cylinders from nine to 12 per connection in a year, Reserve Bank of India (RBI) Governor Raghuram Rajan questioned the decision, suggesting it was "misdirected subsidy".
Indian Oil Corporation and Bharat Petroleum Corporation have backed out of Gail's Vizag-Secunderabad LPG pipeline.
In Mumbai, jet fuel costs Rs 71,940.36 per kl as against Rs 73,306.89 per kl previously, IOC said.
The union government is planning to release about 5.5 crore new LPG connections over the next five years, petroleum and natural gas minister Murli Deora said.
Industry think-tank TERI has demanded an end to government dictats on pricing of petroleum products and sought subsidies on domestic cooking gas (LPG) and kerosene to be directly provided to consumers.
The poll panel has asked state Congress chief Govind Singh Dotasra to respond to the notices by 3 pm on Thursday and 7 pm on Friday, respectively.
In a bizarre incident, a national-level shooter recently lost his left thumb when the 10m air pistol cylinder he was filling exploded, at the Karni Singh Range.
While hinting that further cut in petrol and diesel prices was likely during the next revision, Petroleum Minister Ram Naik on Saturday ruled out any possibility of increase in prices of LPG and kerosene
Under-realisation on selling domestic LPG and kerosene through public distribution system is likely to be around Rs 50,000 crore (Rs 500 billion) during the current fiscal, Petroleum Minister Murli Deora said on Monday.
The price of non-subsidised LPG, which customers buy after using up their quota of 12 subsidised cylinders, was raised to Rs 922.50 per 14.2-kg cylinder in Delhi on July 1, the first hike in six months.
In a relief to senior Indian Police Service (IPS) officer Sanjay Kundu, the Supreme Court on Friday set aside the Himachal Pradesh high court direction to remove him from the post of state Director General of Police over allegations that he tried to pressure a businessman who claimed to have received a threat to his life from his partners.
LPG prices will go up by Rs five per cylinder every month with the government on Tuesday saying there is no roll-back in the decision.
Two persons were killed in an accident at a LPG pipeline of state-owned gas utility GAIL India Ltd at Suryapet in Telangana.
It could become a giant leap towards lasting reform if the experiment in direct benefit transfers for cooking gas subsidies pans out.
The government has directed state-run fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum to clear the wait list for domestic LPG connection within the next two months.
The oil ministry is believed to have turned down Reliance Petroleum Ltd's request to export LPG from its newly commissioned refinery at Jamnagar in Gujarat, forcing the only-for-exports unit to sell the cooking fuel locally.
The Sikkim Government has confirmed that 14 people have died so far in the flash floods that occurred in Sikkim in the early hours of Wednesday.
Indian Oil raised prices of commercial LPG, sold in 19 kg cylinders, to Rs 1,108.5 per cylinder on Nov 1, from Rs 1,095.24 per cylinder on Oct 1. Commercial LPG is not subsidised and oil companies revise their prices in line with international prices on the first of every month. "Commercial LPG prices are expected to go up in December too," said an IO official. But prices of automobile LPG have come down by around 5.34 per cent on Nov 1 compared with prices on Oct 1.
Limiting the supply of subsidised LPG cylinders is likely to save the government over Rs 12,000 crore in subsidy outgo annually.
The party also promised reservation to minorities on basis of their population after the caste census.
Demanding a roll back of the hike in cooking gas price, that was increased by Rs 20 per cylinder yesterday, CPI (M) said the Centre's decision not to touch import duties on petroleum products will lead to an "anomalous" situation.
Here are the main factors that impact the November 23 elections in the state.
The Election Commission on Wednesday strongly disapproved Oil Minister Veerappa Moily's announcement of raising subsidised LPG quota ahead of Gujarat elections and asked him to be circumspect in future.
After reducing duties on petroleum products, the Centre has now asked the states to follow suit.
The proposal had to be routed through the transport department. "We were having discussions with the department and were hopeful of a mandate being passed for converting these vehicles to alternate fuel sources," said M L Meena, principal secreatary, department of environment, west Bengal.
The government should end subsidised domestic cooking gas (LPG) for people with income of more than Rs 6 lakh per annum, a Parliamentary Panel has suggested.
The state-owned refiner has offered 15,000 tonnes in a tender.
Congress president and United Progressive Alliance Chairperson Sonia Gandhi has directed all party-ruled states to subsidise three additional cylinders a year for domestic liquefied petroleum gas, raising the cap on subsidised cylinders from six to nine.
According to DMK, the voters are already consolidated on ideological lines, hence the impact of anti-incumbency, whether against the BJP Centre or the DMK state may not be too much, notes N Sathiya Moorthy.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
Underrecovery from sensitive petroleum products seen at Rs 1,55,000 cr in current fiscal.
Taking suo moto cognisance of reports of the Centre's move -- ahead of Gujarat assembly polls -- to increase the cap on subsidised LPG cylinders, the Election Commission has directed it to stop the same forthwith. The Commission held an emergency meeting soon after the Minister of Petroleum and Natural Gas M Veerappa Moily said the government will raise the cap on the supply of subsidised cooking gas to nine cylinders per household a year from six at present.
The LPG model was launched a fortnight ago. Chevrolet is now hoping to rev up the car's sales with a diesel option in June.
Now, non-subsidised liquefied petroleum gas price is hiked by Rs 26.5 per 14.2-kg cylinder.
Raise the price of diesel and restrict supply of subsidised LPG cylinder in a year to four per family, Prime Minister's Economic Advisory Panel suggested on Friday.
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