Indian Oil Corp, the nation's largest fuel retailer, positioned adequate stocks of all petroleum products -- petrol, diesel, kerosene and LPG in the state.
Ruling Peoples Democratic Party spokesman Waheedur Rehman Parra criticised Abdullah for seeking LPG subsidy despite his "huge assets".
Petrol pumps in many cities witnessed long queues on Tuesday as people came to fill up their vehicle tanks fearing shortage of fuel amid the protest by truck drivers against a provision in the new penal law on hit-and-run accident cases involving motorists.
Government has begun drawing contingency plans to avert any shortage of domestic cooking gas as a result of go-slow agitation by employees of the country's largest oil company Indian Oil Corp.
Finance Minister P Chidambaram had last week stated that there were demands from 'several chief ministers' for raising the quota of subsidised cylinders and the government 'will look into' them.
The union government is planning to release about 5.5 crore new LPG connections over the next five years, petroleum and natural gas minister Murli Deora said.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
Truck drivers protesting against a provision in the new penal law on hit-and-run road accidents, called off their strike in Nashik district of Maharashtra on Tuesday after the local authorities assured to look into their demands.
The government has directed state-run fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum to clear the wait list for domestic LPG connection within the next two months.
Indian Oil raised prices of commercial LPG, sold in 19 kg cylinders, to Rs 1,108.5 per cylinder on Nov 1, from Rs 1,095.24 per cylinder on Oct 1. Commercial LPG is not subsidised and oil companies revise their prices in line with international prices on the first of every month. "Commercial LPG prices are expected to go up in December too," said an IO official. But prices of automobile LPG have come down by around 5.34 per cent on Nov 1 compared with prices on Oct 1.
Limiting the supply of subsidised LPG cylinders is likely to save the government over Rs 12,000 crore in subsidy outgo annually.
Reliance from 0600 hours today began complying with an oil ministry order asking it to first supply gas produced from eastern offshore KG-D6 fields to priority users -- urea making fertiliser plants, electricity generation houses, LPG extraction units and city gas distribution firms.
Raise the price of diesel and restrict supply of subsidised LPG cylinder in a year to four per family, Prime Minister's Economic Advisory Panel suggested on Friday.
Taking suo moto cognisance of reports of the Centre's move -- ahead of Gujarat assembly polls -- to increase the cap on subsidised LPG cylinders, the Election Commission has directed it to stop the same forthwith. The Commission held an emergency meeting soon after the Minister of Petroleum and Natural Gas M Veerappa Moily said the government will raise the cap on the supply of subsidised cooking gas to nine cylinders per household a year from six at present.
Now, non-subsidised liquefied petroleum gas price is hiked by Rs 26.5 per 14.2-kg cylinder.
Margins for the oil refining and retailing sector have moved off their peaks, and the average integrated margins (refining plus marketing) for oil marketing companies (OMCs) have normalised. The ascent in crude oil prices, combined with static retail prices, has depressed marketing margins for diesel and petrol. However, the fall in marketing margins has been offset by increased gross refining margins (GRMs).
The decision was taken at a full commission meeting held on Thursday under the chairmanship of Chief Election Commissioner V S Sampath, and communicated to the Union Cabinet, which met to take a call on the matter.
The Oil Ministry will raise the cap on supply of subsidised cooking gas (LPG) to 9 cylinders per household in a year provided the Finance Ministry agrees to give an additional Rs 3,000 crore in 2012-13.
The Reserve Bank on Friday retained the inflation forecast for 2023-24 at 5.4 per cent, and vowed to take timely measures to prevent any spillovers of global food and fuel price shocks. Stressing that the Reserve Bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth, Governor Shaktikanta Das said the September retail inflation number may be lower than August and July prints. The headline inflation based on Consumer Price Index (CPI) moderated to 4.6 per cent in first quarter of 2023-24 as compared to 7.3 per cent in the same period a year ago.
Experts say having an open fire in the kitchen is like burning 400 cigarettes an hour.
Two persons were killed in an accident at a LPG pipeline of state-owned gas utility GAIL India Ltd at Suryapet in Telangana.
The ministry is preparing a draft note for consideration of the CCPA on pricing of diesel, kerosene and LPG, official sources said.
Reliance Industries on Monday said its city gas would be cheaper by almost 33 per cent compared to liquefied petroleum gas being supplied by oil PSUs.
The recent government decision to restrict supply of subsidised cooking gas cylinders to six per year to each household will see consumption for fuel decline to 4.1 per cent in second half of the fiscal, a report by think-tank CMIE said.
The EGoM has fixed priority for the 25 million standard cubic metes per day of gas Reliance plans to start pumping from September this year and 40 mmscmd from March 2009. It has asked the company to first supply gas from KG-D6 field, the first major field of NELP to go on production, to existing gas-based urea plants, which are now getting fuel below their full requirement.
Calling himself 'Shramik No.1' (Worker No.1), he listed out initiatives taken by his government for the welfare of labourers.
This is prime minister's second visit to Bhutan and the first since his re-election.
It is expected to take a similar stand at the Mumbai and Delhi high courts, where Welspun Maxsteel, Ispat Industries and Essar Steel have challenged the petroleum ministry's decision to divert KG-D6s supply from steel and petrochemicals to power and fertiliser.
Petroleum and Natural Gas Minister Ram Naik said on Wednesday that an agreement with Qatar had been finalised for supply of liquified natural gas from next year.
This will pave the way for emergence of 24,000 new panchayat-level leaders in Telangana, he said.
In most parts of the landlocked northeastern state, items such as rice, potato, onion and egg besides LPG cylinders and petrol are selling at rates much above the ones fixed by the government.
The Sikkim Government has confirmed that 14 people have died so far in the flash floods that occurred in Sikkim in the early hours of Wednesday.
'What should surprise BJP supporters is Modi's call for 'stability' at the manifesto launch, a theme that he and his team members had not touched ahead of the Lok Sabha polls in 2014 and 2019.' 'The last time the party called for 'stability at the Centre' was in 1998 and 1999,' recalls N Sathiya Moorthy.
Prime Minister Narendra Modi's brother Prahlad Modi, who is also the vice president of All India Fair Price Shop Dealers' Federation, on Tuesday staged a dharna here with various demands of the organisation. Prahlad along with several other members of the All India Fair Price Shop Dealers' Federation (AIFPSDF) gathered at Jantar Mantar, holding banners and raising slogans.
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
Long queues outside grocery stores, inflated prices, difficulty in getting important items -- these were some of the problems encountered by people in the National Capital Region (NCR).
If only you had thought ahead, you would have stocked snacks and biscuits, bread and cake, and vegetables suited for Amma or pondatti to make your favourite bajji and pakoda, observes N Sathiya Moorthy.
IOC has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while OIL has been forced to shut LPG production and its crude oil production has dropped by 15-20%. Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
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