Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
Diesel in Mumbai costs Rs 79.72 per litre at IOC outlets and Rs 79.79 at BPCL outlets.
New schemes allows consumers without Aadhaar to receive cash directly in their bank accounts
Indian Oil Corporation on Monday said there was no shortage of LPG even as it claimed it was checking against diversion of cooking gas for unauthorised use.
Global crude oil prices have slumped by 49 per cent during the same period
State-run Indian Oil Corporation (IOCL) reported a weak performance in the fourth quarter of FY24 (January-March 2024), and the turmoil in the energy market indicates it could endure another lacklustre quarter. The oil marketing company (OMC) reported an Ebitda of Rs 10,400 crore, down 27 per cent year-on-year (Y-o-Y) due to weak reported gross refining margin (GRM) of $8.4 per barrel in Q4FY24, which was almost half the consensus expectation of $15 per barrel.
Despite the steep hike of Rs 20 per LPG cylinder announced last week, domestic cooking gas in India is still the cheapest in the subcontinent.
To cut subsidy bill and reduce fiscal deficit, the previous United Progressive Alliance government had restricted the number of subsidised domestic cylinders per household to six every year in September 2012, revising it to nine the following January
Targeting Modi over inflation, Priyanka called him a "mehengai" man.
The phased increase of prices is being done to sell the fuel at international prices.
After diesel, the government is considering raising cooking gas (LPG) and kerosene rates in small doses of Rs 5 per cylinder and Rs 0.50-1 a litre every month to wipe out Rs 80,000 crore subsidy on the two fuels.
The ruling United Progressive Alliance's political leadership is holding consultations on options like raising diesel and LPG prices to cut an unprecedented Rs 160,000 crore (Rs 1,600 billion) revenue loss expected from selling auto and cooking fuel below cost this fiscal.
Indian govt must find solution to ever increasing LPG subsidy. Govt must cap LPG subsidy.
Hindustan Motors Limited, the first Indian car company, is planning to launch cars on its ambassador platform with sequential liquefied petroleum gaseous (LPG) injection systems in three months.
Raising the issue during Zero Hour, Congress member Jagdambika Pal said the move had led to a flourishing black market and made a strong demand for raising the cap of LPG cylinders from six to at least 12.
The Direct Benefit Transfer for LPG scheme was rolled out in 291 districts from June 1, 2013 in six phases to do away with the practice of selling the fuel at below cost rates.
Hindustan Motors Limited, a C K Birla group company, on Sunday launched the LPG version of its Ambassador for the taxi and private car segments in the country.
ONGC on Friday said it hopes to begin marketing of LPG and Kerosene soon.
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.
A clarification on delinking Aadhaar account from disbursal of subsidised LPG cylinders would be issued within a week, Petroleum and Natural Gas Minister Veerappa Moily said during Question Hour.
Officials said the oil marketing companies had provided data to the Income Tax department.
The government wants to bring down the subsidies on kerosene, LPG and diesel in a way that does not impact the people in a major manner and takes away subsidies from people who do not deserve them.
Govt targets 1 cr consumers to give up LPG subsidy.
Rs 7,024 cr transferred under LPG cash subsidy scheme.
Rates have been on the upswing since October, 2016.
The 5-kg cylinder will be price at market rate.
Petroleum Minister Ram Naik said there was no shortage of domestic cooking gas in the country, as imports made up for the shortfall in LPG output arising out of the shutdown of a crucial unit in the Jamnagar refinery of Reliance Industries Ltd.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
A low intensity bomb blast at a popular eatery in Bengaluru on Friday left 10 people injured, leading the police to invoke the stringent UAPA provisions in the case. Subsequently, the police were looking into all angles related to the incident.
Congress general secretary Bhanwar Jitendra Singh on Tuesday said there is no truth in the speculation of senior party leader Kamal Nath joining the Bharatiya Janata Party and claimed such talks were a creation of the media and the saffron party.
The calculation is based on annual usage of eight cylinders per household.
With Congress party vice president Rahul Gandhi making a strong pitch for raising LPG cap, Oil Minister M Veerappa Moily on Friday said the quota of subsidised cooking cylinders will be hiked to 12 from 9 per household.
The report of the National Bomb Data Centre, under the National Security Guard, differs from that of the State Forensic Science Laboratory, Junga, and the police investigation according to which a gas leak had caused the blast.
Indian Oil Corporation has developed an indigenous technology that can double LPG production in refineries, Petroleum Minister Murli Deora said on Thursday.
Kharadi has eight children -- four sons and as many daughters -- from two wives. The entire family lives in Neechla Thala village, about three kilometres from Kotda tehsil of Udaipur.
Under pressure from his party, Oil Minister M Veerappa Moily said the government is considering increasing the quota of subsidised LPG cylinders to 12 per household even as hints were dropped of a one-time hike in diesel and LPG rates
The domestic LPG business in the country, which caters to 133 million households, has undergone a sea of reforms in the current financial year, helping the government check the burgeoning subsidy bill.
Hazra, the director of Hindustan Aegis LPG Bottling, said that the government's stance was discouraging the multinationals from making further investments.
The price of non-subsidised cooking gas (LPG) was on cut by Rs 21 per cylinder and that of jet fuel (ATF) by a steep 3 per cent on the back of falling international oil rates.
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