Indian Oil Corporation said on Friday it is losing Rs 10.55 per litre on sale of petrol and Rs 9.88 per litre on diesel due to a government freeze on increasing fuel prices.
The government is willing to increase its contribution to the subsidy bill on retail sale of oil products
The death toll in Bihar floods today mounted to 64 with over 33 lakh people spread across 13 districts affected by the deluge.
Diesel to cost Rs 2 per litre more, but there will be no increase in LPG and kerosene prices.
For every rupee fall against the dollar, the under-recovery will increase by Rs 8,000 crore
The SC on Monday issued notice to the Centre and to the Uttar Pradesh government on a plea seeking a CBI probe into the alleged murder of a journalist Jagendra Singh.
Public sector oil companies lost Rs 9800 crore (Rs 98 billion) in the first six months of 2004-05 fiscal for selling petroleum products below the import cost, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
'Those who genuinely seek justice do not differentiate between a victim and a victim or an accused and accused.' 'They demand justice for all,' says Utkarsh Mishra.
The Uttar Pradesh government on Saturday suspended five policemen for their alleged role in the killing of Shahjahanpur-based journalist Jagendra Singh.
Chittaranjan doused himself with kerosene and set himself ablaze August 15.
But sooner or later, the victims must return to work, says C V Shankar, the official in charge of relief.
The cabinet on Friday discussed the fuel price increase in the context of the surge in international oil prices.
Prime Minister Manmohan Singh remembered his own school days in a highly energy-deficient era while addressing children on the Rajiv Gandhi Akshay Urja Diwas.
Demanding a roll back of the hike in cooking gas price, that was increased by Rs 20 per cylinder yesterday, CPI (M) said the Centre's decision not to touch import duties on petroleum products will lead to an "anomalous" situation.
Bharat Petroleum Corporation Ltd on Thursday said it lost Rs 1,200 crore (Rs 12 billion) in the first quarter of the current fiscal due to selling petrol, diesel, LPG and kerosene below cost price.
In an era of falling interest rates, major trade unions on Friday pitched for restoring 12 per cent return on small savings schemes
Mandabai Hiwarale had come to the MIDC police station on Monday to lodge a complaint but failed to get a sympathetic ear.
Petrol and diesel prices will go by Rs 2.50 and Rs 2 per litre respectively.
LPG prices will go up by Rs five per cylinder every month with the government on Tuesday saying there is no roll-back in the decision.
Government's fuel subsidy estimate was based on crude oil at $70.
The government will decide on increasing petrol, diesel, LPG and kerosene prices within the next 24-48 hours.
Public sector oil retailing firms have lost over Rs 5,800 crore in the first six weeks of current fiscal due to non-revision of petrol, diesel, LPG and kerosene prices.
GAIL (India) Ltd on Friday reported a 22 per cent dip in its net profit at Rs 409 crore (Rs 4.09 billion) to fourth quarter ended March 31 on having to payout Rs 538 crore (Rs 5.38 billion) towards subsidising LPG and kerosene.
The Cabinet Committee on Economic Affairs may consider slashing customs duty on petrol and diesel from 15 per cent to 10 per cent.
Reliance Industries Ltd will sell 4.3 million tonnes of petroleum products from its 33 million tonnes Jamnagar refinery in Gujarat to public sector oil retailing companies in 2004-05.
The government on Friday said it will not increase prices of domestic cooking gas (LPG) and kerosene despite the Budget cutting to half the subsidy on the two mass consumed cooking fuels from April 1.
In the sixth such hike in three months, petrol price has been increased by a steep Rs 2.35 per litre and diesel by 50 paise per litre on falling rupee and firming international oil prices.
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