Petroleum Minister Murli Deora on Saturday said the government is considering to prices of petroleum products in the next few days.
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.
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.
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.
Norwegian LPG cylinder maker Ragasco is planning a JV in India to tap the Indian LPG market.
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.
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.
After the increase, cost of a subsidised 14.2-kg cylinder will be Rs 417 a cylinder from Rs 414 in Delhi.
1.46 lakh such consumers have voluntarily given up the subsidy.
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.
Describing the order as a "matter most urgent", the director asked the oil marketing companies to make adequate stocks of LPG which can last up to two months both at bottling plants as well as godowns.
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.
This is the second postponement of the DBT launch in LPG. It was initially planned to be introduced from January 1.
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.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
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 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.
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.
Shah Rukh Khan has endorsed the inclusion of his left-handed power-hitter Rinku Singh in the Indian team
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.
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
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".
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
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.
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.
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.
