Petrol and diesel prices were hiked for the fourth consecutive day on Saturday by 35 paise per litre, pushing the total increase in rates on petrol to Rs 36 per litre and on diesel to Rs 26.58 since early May 2020 when taxes on the two fuels were raised to record levels. Petrol in Delhi now costs Rs 107.24 a litre and diesel comes for Rs 95.97, according to a price notification of state-owned fuel retailers. The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels.
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.
Price of diesel, LPG and kerosene will have to go up.
At least 10 persons, including four cops, were injured when police resorted to lathicharge on Tuesday to chase away a mob protesting alleged diversion of kerosene meant for relief at Chikiti in Odisha's cyclone-hit Ganjam district.
Sale of diesel, the most consumed fuel in the country, fell 12 per cent, while petrol sales fell 7.4 per cent year-on-year to 2.38 million tonnes although it rose 5.3 per cent from 2.26 million tonnes in July as commuters preferred driving to using public transportation.
Indian government is trying hard too woo global investors.
According to sources, the task force made a separate presentation on fertiliser, LPG and kerosene, covering issues like existing subsidy regime and the proposed new model.
The price of petrol breached a three-year high on Monday at Rs 74.50 a litre, while the price of diesel was at its highest at Rs 65.75 a litre
Helicopter sorties with relief to earthquake-affected areas which resumed on Sunday after a two-day gap were again suspended due to incessant rain on Monday.
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.
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.
Of the 650 cases registered in connection with anti-Sikh riots in Delhi, 267 were closed as untraced by the Delhi Police.
Concerned over the misuse of subsidies provided under various schemes, Finance Minister Pranab Mukherjee on Monday said the government will provide a direct cash subsidy on kerosene and fertilisers to the poor from March next year.
Finance Minister Pranab Mukherjee asked all chief ministers to reduce state levies on diesel, kerosene and cooking gas to mitigate the impact of the price hike on the common man.
Where does one find a man who shows no bitterness or animosity towards Hindus, even after a frenzied Hindu mob burnt his house down?, Jyoti Punwani asks in this tribute to a truly extraordinary Indian.
The petroleum minister's three-pronged approach does little to address the real issues of fuel diversion and adulteration, say experts.
IOC and its sister PSUs, Hindustan Petroleum and Bharat Petroleum, sell diesel, domestic LPG and kerosene at rates way lower than their imported cost to help government keep general price inflation under check.
Close on the heels of two Dalit children being burnt alive in Faridabad, a 21-year-old Dalit youth was allegedly burnt to death by a former village head and his family members here over some old rivalry, the police said on Friday.
Already, the government's resources are strained due to various fiscal stimulus and the Survey has separately noted that high growth environment creates scope for partial rollback of these stimuli.
Prime Minister Narendra Modi was on Monday quoted as saying that Tuesday's expansion of his ministry will reflect "budget focus and priorities".
Researchers found that fuel-based lighting today provides 150,000 jobs worldwide.
India's space scientists are developing semi-cryogenic propulsion technology using kerosene that is expected to give the country the capability to launch six-tonne class satellite, almost three times the weight its rockets can currently handle.
State-owned Indian Oil Corp (IOC) is losing Rs 151 crore per day in revenues on selling diesel, domestic LPG and kerosene below their imported cost, a company official said on Thursday.
Petrol prices have been cut in small doses on 20 occasions.
State-owned fuel retailers IOC, BPCL and HPCL are likely to lose Rs 65,000 crore on selling diesel, domestic LPG and kerosene below cost during the current fiscal, Oil Minister Murli Deora said on Wednesday.
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
Delhi may become the first state to move to direct cash pay-outs of subsidies on kerosene sold through the public distribution system (PDS). The petroleum ministry said it has "welcomed" a proposal to this effect from the Planning Commission, which acted on a plan suggested by Delhi Chief Minister Sheila Dikshit.
The public has benefited from this decline in crude oil, which has translated into lower prices of petrol and diesel.
The ministry has asked the oil marketing companies to further step up their efforts to curb adulteration of petroleum products.
Nivar which wreaked havoc in 18 districts of the state has claimed four lives besides leaving several cattle dead and over 2,000 trees uprooted, Palaniswami said, a day after the very severe storm made landfall.
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.
A slew of concessions, including for carriage of foodgrains, kerosene and fertiliser, were announced by Railway Minister Mamata Banerjee in the Railway Budget 2010-11. Cancer patients travelling for treatment would get 100 per cent concession in third AC and sleeper classes.
Petrol costs more in India, but cooking gas, kerosene and diesel cost less than in Pakistan or Sri Lanka.
Police says a case of dowry death has been registered against eight persons.
Shrug off the yoke of the imperialism of Delhi. That is why the DMK manifesto offers what it offers: The promise that Tamil Nadu will, one day, become an independent republic, notes Aditi Phadnis.
Indian Oil Corporation, the country's largest oil firm, has sought an increase in price of domestic cooking gas LPG by over Rs 103 per cylinder and PDS kerosene by Rs 7.5 a litre, in view of rise in cost of raw material.
Reliance Industries, the country's largest LPG producer, will be spared from footing the Rs 7,200 crore (Rs 72 billion) bill for the one year freeze in LPG and kerosene prices, despite rising cost.
The company and other public sector fuel retailers Bharat Petroleum and Hindustan Petroleum are currently selling petrol at Rs 3.68 a litre below cost and diesel at Rs 2.90 per litre lower than cost.
Unidentified persons allegedly threw kerosene bottles at actor Shahrukh Khan's bungalow 'Mannat' in suburban Bandra in the early hours of Friday. Khan was not there when the incident happened.
State-run Indian Oil Corp is losing Rs 92 crore (Rs 920 million) per day on sale of petrol, diesel, domestic LPG and kerosene as government has not allowed it to revise rates in line with firming international oil prices.
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