Fuel sales rose to 12.364 million tonnes in May from 11.717 million tonnes a year ago, according to provisional data from the oil ministry in New Delhi.
State-run oil refiners are likely to report profits on daily sale of petrol, diesel, cooking gas and kerosene in the fortnight ending December 31, after average crude oil prices have been nearly 3 per cent lower and the rupee has appreciated 3.2 per cent compared with the first fortnight of this month.
Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd are projected to lose around Rs 1,15,500 crore (Rs 1,155 billion) during the year as they sold petrol, diesel, kerosene and cooking gas at below production costs when crude oil prices rose steadily between April and July this year to reach a peak of $147 a barrel in early July.
The fact that Gehlot has stayed relevant these five years with his populist schemes is one reason why he may beat incumbency in a state that votes for change every election, observes Ramesh Menon.
Despite mounting pressure, Gotabaya, and Prime Minister Mahinda have refused to quit office.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
"In these times, it is natural to talk about revival. It is equally natural to link global revival and India. There is faith that the story of global revival will have India playing a leading role," Prime Minister Narendra Modi said while addressing the India Global Week 2020.
Always a winner, BBQ fare can be served with lime wedges and a side of green salad or Indian breads.
Industry think-tank TERI has demanded an end to government dictats on pricing of petroleum products and sought subsidies on domestic cooking gas (LPG) and kerosene to be directly provided to consumers.
'The fact that Modi and Xi exuded confidence to accelerate the negotiations for a border settlement alone underscores that the Russia-India-China triangle has become very dynamic,' notes Ambassador M K Bhadrakumar.
The government is considering allowing private firms to sell subsidised domestic cooking gas LPG, the Lok Sabha was informed on Thursday.
Inflation has dipped to 4.39 per cent for the week ended January 31, from 5.07 per cent in the previous week, says Commerce Minister Kamal Nath.
On December 5, the government had announced a Rs 5 per litre and Rs 2 a litre reduction in petrol and diesel prices, respectively, as global crude prices hovered around four year lows.
The government has cut petrol price by Rs 5 and diesel by 2 a litre with effect from midnight tonight.
The government on Friday decontrolled petroleum prices to bring fuel costs in line with global oil rates after an Empowered Group of Ministers, headed by Finance Minister Pranab Mukherjee, met for the second time in less than three weeks to decide on raising fuel prices. Railway Minister Mamata Banerjee was absent again.
Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
Sri Lanka on Tuesday deployed military personnel at State-run petrol pumps to monitor and manage fuel distribution amidst a shortage that led to serpentine queues of consumers outside filling stations.
UID project was launched by the UPA government in 2009.
Sri Lankan police on Monday came under pressure to arrest the Rajapaksa family loyalists involved in attacks on peaceful protesters last week, even as it arrested over 200 people on various charges following the violence that left nine people dead.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
BJP says it doesn't make sense to rollback fuel subsidy while maintaining Central patronage for Haj pilgrimage.
How do you think could the government cut down petrol costs? Could it cut the duty on petrol? What could it do?
Apple to step up investments in China, create more jobs: Cook
Amid a war between Russia and Ukraine, Prime Minister Narendra Modi on Thursday said India's several needs are connected to the involved countries but it is on the side of peace and hopes that all problems get resolved through dialogue.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
The government has extended the supply of subsidised cooking gas to educational and social welfare institutions.\n\n\n\n
Reliance Industries Ltd, India's largest private sector refiner, will restart operations at its Jamnagar refinery LPG-making unit next week, company Nikhil Meswani, executive director said on Monday.
Aviation turbine fuel to now cost more.
Sri Lanka has also imposed a police curfew in Western Province for six hours.
Domestic cooking gas (LPG) price was on hiked by Rs 3.46 per cylinder after the government raised the commission paid to dealers by over 9 per cent.
Priyanka Gandhi urged people to stand with the farmers' struggle and to take the movement to the villages.
Jet fuel constitutes over 40 per cent of an airline's operating costs and the price increase will raise the financial burden on cash-strapped carriers.
Reforms under the Modi government will maintain a slow and tentative pace, constantly wary of political opposition. It may not be reform by stealth, but it is reform on the quiet, says A K Bhattacharya.
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stock to last way beyond the three-week nationwide lockdown, as all plants and supply locations are fully operational, Indian Oil Corp (IOC) chairman Sanjiv Singh said.an Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite the loss of his father on the day the 21-day lockdown was declared, said there was no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.
Government's fuel subsidy estimate was based on crude oil at $70.
Petrol and diesel prices are unlikely to be hiked in the near future, with Finance Minister P Chidambaram agreeing in-principle to share a third of the revenue loss that state-run oil firms incur on sale of fuel
The increase in commission - which is normally passed on to consumers - is expected within a couple of weeks.
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