The information technology and telecom ministries spent a whopping Rs 53.14 lakh on petrol in two years, according to a RTI report.
Under-recovery or the difference between retail price and its imported cost on diesel was 8 paisa per litre in the first half of September.
Minister of State for Food and Public Distribution Kantilal Bhuria told the Lok Sabha in a written reply that there was no immediate impact of the hike in petrol and diesel prices on essential commodities. Impact of some of the factors, including hike in prices of petrol and diesel could be felt only with a time-lag. While price of rice went up, prices of wheat, atta, chana dal, tur dal, sugar, mustard oil, vanaspati, milk & onion did not rise during the period under review.
Almost all petrol pumps across the country on Monday went on a day-long strike to press for hike in commission on sale of petrol and diesel even as handful of company-owned outlets tried to meet fuel needs of the people.
Almost half of the retail price of petrol of Rs 44.63 a litre in the national capital comprises taxes and duties, Minister of State for Petroleum and Natural Gas Jitin Prasada said.
The recent issues dogging West Asia have become a major cause for concern due to the spike in the crude oil prices.
The Bharatiya Janata Party on Tuesday announced country wide protest programme for two days beginning Wednesday against the hike in the prices of petroleum products.
It was trouble from the word go in Lok Sabha and Rajya Sabha which saw Opposition members on their feet demanding rollback of the petrol and diesel price hike that resulted from Finance Minister Pranab Mukherjee's Budget proposals.
The price of diesel in Delhi will be hiked by 57 paise.
Government may raise petrol price by Rs 2 a litre and diesel by Re 1 a litre this week, but a duty rejig to minimise impact of high international crude oil prices looks unlikely. The decision on this will be taken by the Cabinet headed by Prime Minister Manmohan Singh.
The government on Monday decided to hike petrol price by Rs 4 a litre and diesel by Rs 2 per litre
Meanwhile, Uttarakhand, Kerala and Delhi have already announced cut in value added tax on petrol.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Petrol costs more in India, but cooking gas, kerosene and diesel cost less than in Pakistan or Sri Lanka.
The fuel price hike for the last 16 days had caused inconvenience and disappointment among the general public.
State-owned Indian Oil Corp (IOC) on Tuesday said it is losing about Rs 3 on the sale of every litre of petrol, but will decide on raising prices at an "appropriate" time.
Diesel price hike is a tough decision and we need lot of tough decisions to get to 8 per cent growth rate," Planning Commission Deputy Chairman Montek Singh told reporters.
This is the steepest ever hike in rates.
Petrol and diesel prices were on Wednesday hiked in seven states like West Bengal and Maharastra and that of domestic LPG in six states as state-owned oil firms recalibrated rates to reflect changes in local levies.
The recent petrol and diesel price hike by the government did not go down well with the common people who expressed their\ndispleasure over this pre-Budget move. The prices were raised by as much as 10 per cent on Wednesday.
Petrol and diesel will cost Rs 2 a litre less from Wednesday after the first excise duty cut by the Modi government comes into effect.
In June, the government had decontrolled petrol, causing a hike of Rs 3.5 per litre, and increased diesel prices by Rs 2 a litre, LPG by Rs 35 a cylinder and kerosene by 3 a litre -- amid protests by opposition parties.
After today's reduction, petrol price has been cut by Rs 12.27 per litre cumulatively since August.
IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely
The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.
Prices of crude oil are rising in international market and that India has to import 80 per cent of its crude oil consumption.
Petrol price may be cut by as much as Rs 4 a litre from
Petrol price was freed from government control in June 2010 but public sector companies continue to informally consult their parent Oil Ministry before taking a decision.
It remains to be seen if the government will concede to the demand of oil companies just before the winter session of Parliament.
The government is mulling a Rs 2-3 per litre hike in petrol and diesel prices, as oil firms are losing around Rs 10 per litre on the two fuels due to hardening global prices.
Diesel to cost Rs 2 per litre more, but there will be no increase in LPG and kerosene prices.
Petrol pumps across the country will go on strike from September 20, with a petroleum traders' union warning of "no money, no purchase, no sale..." after talks with the Oil Ministry to hike the rate of commission on fuel sales fell through.
If drivers apply some common sense approaches, fuel bills can come down considerably.
If drivers apply some common sense approaches, fuel bills can come down considerably.
The proposal was under consideration of the Cabinet, Sarthak Behuria, chairman, Indian Oil Corporation, told reporters in Chennai after presiding over a memorandum of collaboration event.
Decrying the hike in diesel prices as "unjustified" action, Tamil Nadu Chief Minister J Jayalalithaa on Tuesday demanded its roll back and withdrawal of powers granted to oil companies to regulate fuel prices.
Petrol and diesel prices will go up by Rs 2.67 a litre and Rs 2.58 per litre, respectively, after Finance Minister Pranab Mukherjee on Friday raised customs and excise duties on the two, virtually putting the Kirit Parikh Committee report on fuel price in cold storage.
The latest round of petrol and diesel price increase, on Thursday, met with opposition from many corners.
Petrol prices may be cut by as much as Rs 1-1.50 per litre next week on falling international oil rates and appreciating rupee but a one-time hike in diesel and possibly LPG rates is still on the cards.
