Aviation turbine fuel or jet fuel price was on Wednesday hiked by a steep 9.2 per cent, while that of non-subsidised cooking gas was raised by Rs 21 per cylinder.
In a step towards dual pricing of domestic cooking gas, the government has decided to allow oil-marketing companies to sell the fuel at market prices in distinct fibreglass cylinders. IOC, BPCL and HPCL will sell these cylinders in Bangalore, Mumbai and Pune, which have been identified as test beds for the pilot project. The companies could revise fuel prices for transparent cylinders as LPG for them will not be subsidised. Feasibility of this project is yet to be adjudged.
The country is facing no shortage of domestic cooking gas at the moment, Petroleum Minister Murli Deora told the Rajya Sabha on Tuesday. As on October 1, 2007, OMCs were serving 9.79 crore LPG customers through their 9,355 distributorships. OMCs have released 27.7 lakh new LPG domestic connections in the country during April-September.
TVS Motors is exploring LPG and CNG enabled two wheelers. It is also ready to launch electric scooters.
The alternative fuel fever has caught up with Chennai-based TVS Motor Company, synonymous with 'TVS Scooty'. Having entered the electric scooter segment, the company is exploring LPG and CNG two wheelers.
This is the second postponement of the DBT launch in LPG. It was initially planned to be introduced from January 1.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
The LPG variant will be priced Rs 21,500 more than the existing petrol model. The ex-showroom Delhi price for Santro eco (GL) is Rs 354,294 and Santro eco (GLS) is Rs 373,357.
In September, issue of new LPG connections had been put on hold pending a massive nationwide exercise to eliminate multiple connections
Petroleum ministry expects that this would encourage the rich and affluent also to voluntarily give up the subsidised LPG.
Close on the heels of a 70 paise per litre hike in petrol prices, the Oil Ministry is pushing for an increase in diesel and domestic cooking gas LPG prices, even though it is unsure of political support for the unpopular move with the ruling UPA alliance.
The government may permit Reliance Industries Limited to export surplus LPG from the west coast and allow it to import on the deficit east coast to make huge savings on freight cost.
There are about 15.3 crore LPG consumers in the country.
When household bills for Liquefied Petroleum Gas (LPG) jump over 60 per cent for those using 12 refills a year, the increase in the price of cooking fuel will beat that of petrol.
In a bold suggestion, Minister of State for Petroleum R P N Singh today said affluent people should voluntarily stop buying subsidised LPG and said he will be the first person to pay market price for the fuel, which is Rs 287 per cylinder more than the current rate.
State-owned Indian Oil Corporation has begun stockpiling 15 days' supply of domestic cooking gas to meet contingencies like disruption in crude oil supplies in the event of war in Iraq.\n\n\n\n
Ruling Peoples Democratic Party spokesman Waheedur Rehman Parra criticised Abdullah for seeking LPG subsidy despite his "huge assets".
Union Home Minister Amit Shah, who released BJP's manifesto for the legislative assembly polls, said a committee would be constituted on UCC.
Taxability of LPG subsidy and other direct benefits paid directly into bank accounts of beneficiaries is unclear.
Petroleum Minister Murli Deora on Monday launched the service, which will be initially available in the national capital and would be extended to other metropolitan cities, state capitals and towns.
The government is considering allowing private firms to sell subsidised domestic cooking gas LPG, the Lok Sabha was informed on Thursday.
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
Pahal looks to cut down diversion and eliminate duplicate.
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.
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 rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
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.
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.
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.
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.
No immediate comment was available from airlines on the impact of the price hike on passenger fares.
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.
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.
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.
Experts say having an open fire in the kitchen is like burning 400 cigarettes an hour.
The government on Friday said it would not increase the cooking gas and kerosene prices despite escalation in the prices globally.
Modi had last month launched the 'Give-it-Up' campaign.
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