Petroleum Minister Mani Shankar Aiyar will present options, including raising prices of LPG and kerosene for the rich, to bridge the vast gap between the cost of fuel and their current retail price
With the West Bengal government banning 15 year-old commercial vehicles from running on the roads in the metropolis and its suburbs, oil companies, which incurred losses for about a year have at last found a ray of hope for marketing auto LPG in the
Giving a quiet burial to the decision to dismantle Administered Pricing Mechanism for petroleum products, the government on Thursday said it will control the pricing of sensitive products like LPG, kerosene and diesel.
State-owned fuel retailers are losing close to Rs 3 per litre on selling diesel while the profit on petrol has trimmed due to recent firming up in international oil prices, industry officials said detailing reasons for continuing to hold retail prices. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), who control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices for almost two years now, resulting in losses when input cost was higher and profits when raw material prices were lower.
Pahal looks to cut down diversion and eliminate duplicate.
Diesel prices are still under control with subsidies.
The Beat LPG has been priced at between Rs 4.10 lakh (Rs 410,000) and Rs 4.53 lakh (Rs 453,000) -- ex-showroom Mumbai.
The government said on Wednesday that it was considering public sector oil companies' request for hiking security deposit on LPG cylinders from Rs 650 to Rs 1000 but clarified that there was no freeze on issuance of new connections.
For the second time in as many months, the Government on Wednesday night cut petrol price by Rs 5 a litre and diesel by Rs 2 per litre, while the domestic LPG rate was also slashed by as much as Rs 25 per cylinder.
Days after the Centre hiked the prices of LPG by Rs 50 per cylinder, Tamil Nadu government on Tuesday cancelled a four per cent value added tax on LPG, bringing down the price of a cylinder by about Rs 15 in the state.
Petroleum and oil marketing companies raised the price of commercial liquid petroleum gas (LPG) cylinders by Rs 350.50 per unit and domestic LPG cylinders by Rs 50 per unit with immediate effect from Wednesday.
However, unlike cellular services where consumers have the option to switch between different mobile companies, LPG consumers would have the limited option of changing only their dealers, not the oil company.
Kerosene and domestic LPG prices in India are the lowest in South Asia, while the rates for petrol and diesel are comparable with its neighbours, petroleum minister Murli Deora said on Thursday. Kerosene in Pakistan costs Rs 34.89 a litre, Rs 30.53 in Bangladesh, Rs 21.26 in Sri Lanka and Rs 34.35 per litre in Nepal.
The government on Wednesday rolled back its decision to hike LPG price by Rs 5 every month.
The government on Friday said it would not increase the cooking gas and kerosene prices despite escalation in the prices globally.
No immediate comment was available from airlines on the impact of the price hike on passenger fares.
Indian Oil Corporation, the country's largest oil firm, has sought an increase in price of domestic cooking gas LPG by over Rs 103 per cylinder and PDS kerosene by Rs 7.5 a litre, in view of rise in cost of raw material.
The government will phase out subsidies on LPG and kerosene by March 2007, Minister of State for Petroleum and Natural Gas Sumitra Mahajan said in a written reply to the Rajya Sabha on Tuesday.\n\n\n\n
Domestic cooking gas consumers in Delhi and Mumbai will from Wednesday get cash subsidy for buying cooking gas refils as the Direct Benefit Transfer for LPG (DBTL) Scheme will be extended to 105 more districts.
A Parliamentary Panel has "deplored" the government for capping the supply of subsidized LPG to 6 cylinders per households, saying that such restrictions should not be placed on people having income below a threshold.
Pawar also said it is the moral responsibility of the major Opposition parties in Maharashtra to protect in the state assembly polls the interests of smaller allies, which were part of the coalition in the 2024 Lok Sabha elections.
Modi had last month launched the 'Give-it-Up' campaign.
Reliance Industries, the country's largest LPG producer, will be spared from footing the Rs 7,200 crore (Rs 72 billion) bill for the one year freeze in LPG and kerosene prices, despite rising cost.
Describing DBT for LPG as a 'tremendous success,' Oil Minister M Veerappa Moily said the programme, when implemented throughout the country, would help save Rs 8,000-9,000 crore (Rs 80-90 billion) of subsidy from going to unintended beneficiaries.
With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up.
Experts say having an open fire in the kitchen is like burning 400 cigarettes an hour.
The government has extended the supply of subsidised cooking gas to educational and social welfare institutions.\n\n\n\n
As the state police declined the provincial administration's directive to allow police stations to be used as distribution points for the supply of liquefied petroleum gas cylinders to the consumers, the crisis has only deepened.
To contain misuse of LPG cylinders in markets, Indian Oil Corporation will soon bring out a system by which cylinder refills for domestic use will be coloured differently from those for commercial use. \n
A decision has been taken to gradually initiate Aadhaar and non-Aadhaar based LPG subsidy transfer through the OMCs.
The government is looking into demands for raising the cap on supply of subsidised cooking gas (LPG) cylinders per households, Oil Minister M Veerappa Moily said.
LPG demand this fiscal is expected to be around 11 million tonne, against around 10.2 million tonne last year. It is the subsidised price of LPG, which is available at around Rs 21 per kg for domestic use. LPG for industries, which is outside price control, is sold at around Rs 58 per kg, up from around Rs 36 per kg last year.
The fall in global oil prices has trimmed the losses of state-owned oil companies, but it may not be enough to prevent a Rs 4 per litre increase in diesel prices and a Rs 20-25 per cylinder hike in LPG rates later this month.
Currently, oil companies sell kerosene at a loss of about Rs 18 per litre.
Police said around 15 people were rescued and shifted to Acharya Bhikshu hospital. Of them, seven died and four people, who were critical, have been shifted to Safdarjung hospital. A few more persons are feared trapped under the debris, they said.
Shah Rukh Khan has endorsed the inclusion of his left-handed power-hitter Rinku Singh in the Indian team
Bowing to party pressure, the government on Thursday raised the quota of subsidised LPG to 12 cylinders per household in a year from nine at present and also put on hold paying users the subsidy into bank accounts using Aadhaar platform.
