IOC and other oil firms have been paying LPG consumers in 54 districts up to Rs 500 to help them buy a 14.2-kg cooking gas refill at market price, which is more than double of Rs 410 per bottle rate in Delhi.
The Manipur government on Tuesday lifted the suspension on broadband internet conditionally in a 'liberalised manner', nearly three months after it was banned due to the ethnic violence in the state.
Finance Minister P Chidambaram had last week stated that there were demands from 'several chief ministers' for raising the quota of subsidised cylinders and the government 'will look into' them.
"(The) government has conveyed approval to public sector oil marketing companies to formulate a scheme for surrendering (of the) LPG connection by a customer who is being supplied piped natural gas," Petroleum Minister Murli Deora said. Alternately, the customer can also choose to keep the connection in safe custody. Thus, if he changes residence to an area not covered by PNG, he can avail a new LPG connection at the surrendered security deposit rate on a priority basis.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
The government on Wednesday hiked the prices of petrol, diesel and LPG by Rs 5, Rs 3 and Rs 50 respectively.
The government will provide private companies subsidy equivalent to that given to state retailing firms on LPG, petroleum secretary B K Chaturvedi said.
The government on Monday said it would overcome the problem of LPG shortage in the country by Diwali.
The government is working on a plan to pass on part of the revenue loss public sector oil marketing firms are incurring on sale of liquefied petroleum gas and kerosene, to refiners, including Reliance Industries Ltd.
Calling himself 'Shramik No.1' (Worker No.1), he listed out initiatives taken by his government for the welfare of labourers.
It proposed that smart cards be issued to BPL families for supply of subsidised kerosene in urban and semi-urban areas to cut diversion of the fuel to unintended users. The panel also suggested a cash transfer system, whereby funds can be transferred to BPL families through a banking or postal system for purchasing of kerosene, instead of supplying the fuel much below the market price.
A week after the steep hike in petrol prices by Rs 5 a litre, the government on Monday said a ministerial panel is likely to meet in the next few days to take a decision on raising diesel, LPG and kerosene rates.
Truck drivers protesting against a provision in the new penal law on hit-and-run road accidents, called off their strike in Nashik district of Maharashtra on Tuesday after the local authorities assured to look into their demands.
Normal life was disrupted in Kashmir on Friday due to a strike called by an amalgam of trading bodies seeking an increase in the number of subsidised LPG cylinders in the Valley.
The government is likely to extend by two more years subsidies on LPG and kerosene while asking the state-run oil firms to bear part of the Rs 14,000 crore under-recoveries due to unchanged prices despite a rise in the cost of raw material.
Cooking gas distributors are threatening to go on strike on October 1, opposing the restriction on sale of subsidised cylinders.
The cap on cylinders would burden the Centre, which will need to compensate the states for the increased cooking fuel cost.
Air fares to go up as ATF price is hiked by 8.2%.
A 14.2-kg LPG cylinder that consumers will have to buy after they exhaust their enhanced quota of 9 subsidised bottles in a year, will cost Rs 942 from today, according to Indian Oil Corporation.
The government said on Tuesday that oil marketing companies are considering price revision of domestic LPG due to increase in international prices.\n\n\n\n
The saving in 2015-16 was about Rs 7,000 crore.
Congress, Samajwadi Party, Trinamool Congress, Bahujan Samaj Party and Left MPs stormed into the Well of the House, saying the people were being cheated.
In a much relief to the common man, Oil Minister Veerppa Moily said that the cap on subsidised liquefied petroleum cylinders is to go up to 9 in a year.
Jet fuel (ATF) price on Wednesday was hiked by 4 per cent in line with firming international oil prices but petrol and diesel rates remained on freeze for a record 10th month in running. Aviation turbine fuel (ATF) price was increased by Rs 4,218 per kilolitre, or 3.9 per cent, to Rs 1,12,356.77 per kl in the national capital, according to a price notification of state-owned fuel retailers. The increase follows three rounds of reduction since November.
With a high-powered ministerial panel on fuel pricing being scrapped, a cabinet committee may consider raising the prices of diesel, LPG and kerosene, Oil Minister S Jaipal Reddy indicated on Wednesday but refused to say when the issue would be taken up.
The ministry is preparing a draft note for consideration of the CCPA on pricing of diesel, kerosene and LPG, official sources said.
The government may give poor people LPG stoves free of cost as part of its blueprint to expand domestic cooking gas coverage to at least three-fourth of the population.
RPL, a unit of Reliance Industries, had sought nod to export the entire liquefied petroleum gas production in the six months to fully commissioning its 580,000-barrels per day refinery in the Jamnagar special economic zone. RPL, in which US energy major Chevron Corp has 5 per cent stake, is likely to start producing fuel from the unit being set up adjacent to parent firm's existing 660,000 bpd refinery at Jamnagar in the next few weeks.
With the government preparing to restrict the number of subsidised cooking cylinders, oil marketing companies have launched a 'transparency' portal that allows customers to keep an eye on the number of cylinders sold in their account by the dealer.
The Reserve Bank on Friday retained the inflation forecast for 2023-24 at 5.4 per cent, and vowed to take timely measures to prevent any spillovers of global food and fuel price shocks. Stressing that the Reserve Bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth, Governor Shaktikanta Das said the September retail inflation number may be lower than August and July prints. The headline inflation based on Consumer Price Index (CPI) moderated to 4.6 per cent in first quarter of 2023-24 as compared to 7.3 per cent in the same period a year ago.
In five monthly reduction, non-domestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price at three-year lows.
The remarks came after former President Ram Nath Kovind was tasked with the responsibility of heading a committee to explore feasibility of "one nation, one election".
Gail India Ltd said on Monday it will set up LPG plants in Uzbekistan as part of its globalisation drive.\n\n
Prime minister's office wants OMCs to bear credit subsidy for remaining 8 subsidised units on reimbursement basis.
Six non-BJP ruled states -- West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand -- have not reduced the VAT on petroleum products, leading to higher prices of petrol and diesel there, Petroleum Minister Hardeep Singh Puri said on Thursday. Puri said in Lok Sabha that the central government has reduced excise duty on petroleum products and some other states, following cues, reduced their Value Added Tax (VAT). Six states -- West Bengal, Tamil Nadu, Andhra Pradesh, Telengana, Kerala and Jharkhand -- have not reduced the VAT, he said amidst vocal protests by the opposition members.
There is eight per cent quota for former defence personnel and employees of central and state public-sector undertakings.
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