There will be no change in LPG and kerosene rates, Oil Minister M Veerappa Moily told reporters in New Delhi after the meeting on Cabinet Committee on Political Affairs. "I am happy to inform the Cabinet Committee on Political Affairs has decided to raise the cap on subsidised LPG to nine cylinders per household in a year from existing six cylinders," he said.
RIL accounted for over a quarter of the country's LPG production of around 8.5 million tonnes per annum (mtpa) last year. Around 2.5 mtpa LPG - the only petroleum product in which India is not self-sufficient - was imported last year to meet the domestic demand of 11 mtpa. RIL is planning to cut LPG production at Jamnagar from 2.3 mtpa to around 1.6 mtpa from mid-2008 following the grant of export-oriented-unit (EoU) status to the refinery.
A top oil ministry official said it will be "suicidal" to even think of raising prices of diesel, LPG or kerosene just before Parliament is to meet.
India will import five additional cargoes of LPG in November to meet the shortfall in domestic cooking gas created due to the unplanned shutdown of a crucial unit of Reliance Industries Ltd's Jamnagar refinery.
Petroleum Minister Murli Deora on Saturday said the government is considering to prices of petroleum products in the next few days.
1.46 lakh such consumers have voluntarily given up the subsidy.
After the increase, cost of a subsidised 14.2-kg cylinder will be Rs 417 a cylinder from Rs 414 in Delhi.
LPG rates were last hiked on November 1 by Rs 2.05 per cylinder. Prior to that rate was hiked on October 28 by Rs 1.5 per cylinder on account of hike in commission paid to dealers.
Norwegian LPG cylinder maker Ragasco is planning a JV in India to tap the Indian LPG market.
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.
The government on Wednesday ruled out any hike in the prices of LPG and kerosene in the face of war threats hovering over Iraq but said deposit money for LPG cylinders might come down in a couple of days.
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.
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.
TVS Motors is exploring LPG and CNG enabled two wheelers. It is also ready to launch electric scooters.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
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 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.
There are about 15.3 crore LPG consumers in the country.
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.
Drivers of commercial vehicles, including trucks and tankers, stopped work in several states on Monday and blocked roads at some places to protest against the provision in the new penal law regarding hit-and-run accident cases involving motorists.
"The tea is good but it is a little too sweet," Prime Minister Narendra Modi told Meera who was elated to host the surprise guest at her house near the Lata Mangeshkar Chowk here on Saturday.
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.
The new Duster will go head-to-head with popular models like Hyundai Creta, Kia Seltos, Volkswagen Taigun, Skoda Kushaq, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, MG Astor, etc in the highly competitive mid-size SUV segment.
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.
Ruling Peoples Democratic Party spokesman Waheedur Rehman Parra criticised Abdullah for seeking LPG subsidy despite his "huge assets".
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
Taxability of LPG subsidy and other direct benefits paid directly into bank accounts of beneficiaries is unclear.
The opposition Congress listed 59 promises in its 106-page manifesto, with assurances for all sections of the society, including farmers, women and government employees.
The interim budget 2024-24 on Thursday allocated Rs 1,277.80 crore for census, a significant reduction from 2021-22 when Rs 3,768 crore was allocated and an indication that the exercise may not be carried out even after three years of delay.
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
Pahal looks to cut down diversion and eliminate duplicate.
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
Diesel prices are still under control with subsidies.
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