Petroleum Minister Ram Naik hinted on Wednesday that prices of petrol and diesel may be cut further at the fortnightly review on Thursday, in tune with the global softening of crude prices.\n\n\n\n
The comparisons were available for 12 countries.
Finance Minister Jaswant Singh is expected to take a fresh look on the demand for a rollback of fertiliser and diesel price hike
The fuel price hike for the last 16 days had caused inconvenience and disappointment among the general public.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
With rising petrol and diesel prices driving up demand for its CNG vehicles, the country's largest carmaker Maruti Suzuki India plans to widen its CNG portfolio by offering the fuel option in four more models 'very shortly', according to a senior company official. The company, which plans to launch an electric vehicle (EV) in the Indian market by 2025, is also currently keeping a close watch on the country's EV ecosystem "to find out what is the best way of evolution" to be able to offer affordable EVs with hassle free charging infrastructure in order to clock high volumes for a sustainable business.
Blue Energy Motors, a Mumbai-based outfit, is set to disrupt the market for two million heavy-duty trucks running on diesel and petrol in the case of routes under 500 km by transforming them into electric.
Diesel prices should be immediately hiked by Rs 4-5 per litre, the Kirit Parikh Committee has recommended while favouring continuation of existing pricing principles for controlled petroleum products.
The Re 1 cut in diesel prices could lead Railway Minister Lalu Prasad Yadav to announce a reduction in passenger fares in the forthcoming Railway Budget.
The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
The government-appointed Kirit Parikh committee suggested an 'immediately' hike prices of diesel by Rs 5 a litre, Rs 4 per litre in kerosene and Rs 250 per cylinder in LPG, reduce annual entitlement of subsidised cooking gas cylinder from six from nine and phase out diesel subsidy in one year to cut a record subsidy burden.
Terming the prime minister's address to the nation on September 21 as "most laughable", Shiv Sena chief Bal Thackeray said Manmohan Singh has "shamelessly" defended Foreign Direct Investment (FDI) in retail and rise in diesel prices.
The Rajya Sabha witnessed a heated debate between the opposition and the government regarding a discussion on the West Asia crisis, with accusations of political maneuvering and failure to uphold the dignity of parliamentary positions.
The government was likely to take a decision on a hike in petrol and diesel prices in mid-July, a government official said on Monday. The review has been necessitated by the increase in global and domestic crude oil prices.
Moody's expects the new government to increase the retail selling prices of controlled fuel products -- kerosene and liquefied petroleum gas -- to help control its subsidy burden.
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
For that to happen America does not have to lose. It only has to do the right thing, asserts Aakar Patel.
In August, passenger car sales dropped 18 per cent to 118,142 units, the sharpest decline in nearly 10 months, due to weak consumer sentiment and a month's lockout at Maruti Suzuki. Sales of diesel-driven utility vehicles grew 70 per #162 this is likely to be affected by the price rise.
The V-Class will be locally produced at the Mercedes facility in Chakan, near Pune, making it the second product, after the Mercedes-Maybach GLS, to begin local production.
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
'Within six months I expect petrol, diesel, and electric vehicles (EVs) to reach cost parity,' says Union Minister for Road Transport and Highways Nitin Gadkari.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
With the government giving limited freedom to state-run oil companies to fix auto fuel prices within a narrow price band, petrol prices are set to go up by Rs 0.57 per litre and diesel by Rs 0.92 per litre from August 1.
The Bharatiya Janata Party, Communist Party of India-Marxist, Communist Party of India, Samajwadi Party, Shiromani Akali Dal have decided to join forces to oppose the government's move to hike the diesel prices every month for the next one year and also increase the price of gas cylinders by Rs 50 to cut down the cost of subsidy.
Brent crude oil prices have risen to about $116 a barrel from about $103 a barrel on July 1.
When missiles fly in this region, they are never just aimed at military targets.
Ministry may seek to retain control even after underrecovery becomes zero.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
After being left unchanged for more than 10 months, diesel prices may see an increase of around Rs 2 per litre next month, providing marginal relief to the oil marketing companies (OMCs) that incur a loss of Rs 16.10 on selling every litre.
However, the American brokerage said it continues to expect the Reserve Bank to cut policy rates by 25 bps on January 29.
Oil and gold had accounted for 45 per cent of India's imports bill in 2012-13.
Home-grown automobile major Mahindra & Mahindra, whose sales are predominantly driven by diesel-powered utility vehicles, has said an increase of Rs 5 a litre in the price of the fuel or a differential of up to 20 per cent with petrol price will not impact vehicle sales.
The main risk to the fiscal deficit arises from subsidies, which are threatening to far exceed the provision made for them in the Budget.
Former Haryana Chief Minister Bhupinder Singh Hooda criticises the state government over alleged LPG cylinder shortages and black marketing, urging immediate action to alleviate public hardship. He also addresses concerns regarding farmers' MSP and the SYL canal issue.
Left parties on Friday opposed the hike in diesel price with the Communist Party of India-Marxist terming it a "gigantic fraud" and decided to hold protests across the country while targeting thr Trinamool Congress for its "double standard" on the issue.
The new Renault Duster with hybrid engine has an edge over its rivals despite having no diesel engine while the styling also appeals with its butch looks, says Somnath Chatterjee.
The cheer of the New Year was darkened by news that India's public finances continue to be in dire straits.
Domestic passenger vehicle dispatches from companies to dealers rose 13 per cent year-on-year to 449,616 units in January with demand remaining robust owing to GST rate rationalisation and subsequent dip in prices, industry body SIAM said on Friday.
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