Price of international crude oil - the raw material for making petrol and diesel - dropped to a three-year low before marginally recovering but a revision in domestic petrol and diesel rates is likely only if lower rates are sustained, industry sources and officials said. Global oil benchmark Brent crude futures fell below $70 per barrel on Tuesday - the first time since December 2021 - but gained thereafter after Hurricane Francine hit crude supply in the Gulf of Mexico. Brent rose above $71 a barrel on Thursday while West Texas Intermediate advanced to trade near $68.
Speaking to reporters in Bengaluru, the CM said, "There is no situation for revisiting it at the government level. There is no such intention, there is no such proposal."
The Union Cabinet in its first meeting under the chairmanship of Prime Minister Narendra Modi on Monday approved government assistance for the construction of three crore houses under the Pradhan Mantri Awas Yojana (PMAY).
The much-delayed decadal census exercise and the work to update the National Population Register (NPR) are likely to begin early 2025 and the data will be declared by 2026, thus changing future census cycles completely, official sources said.
Govt looks to take cooking gas to tiger reserves, Naxal-hit areas
All subsidies will be eliminated by March 2018
A 14.2-kg subsidised LPG cylinder in Delhi will now cost Rs 507.42 as against Rs 505.34 previously, according to a price notification of State-owned fuel retailers.
ATF price in Delhi was reduced by Rs 4,765.5 per kilolitre (kl), or 11.9 per cent.
The government on Thursday said it will "look into" a demand to raise the quota of subsidised LPG cylinders to 12 per household in a year from the current limit of nine, a day after the price of non-subsidised LPG was increased by a steep Rs 220.
Based on the complaint filed by the rail staff police has lodged an FIR against unknown persons regarding the matter.
Over 12,450 LPG users have so far voluntarily given up their subsidies, but this accounts for only 0.008 per cent of about 15 crore (150 million) domestic cooking gas consumers in the country.
Plumes of smoke could be seen billowing from the spot. A purported video of the aftermath of the explosion also surfaced on social media showing thick dense white smoke.
Indian Oil Corporation on Monday said there was no shortage of LPG even as it claimed it was checking against diversion of cooking gas for unauthorised use.
New schemes allows consumers without Aadhaar to receive cash directly in their bank accounts
Despite the steep hike of Rs 20 per LPG cylinder announced last week, domestic cooking gas in India is still the cheapest in the subcontinent.
About 2,000 petrol pumps, mostly in western and northern India, have run out of fuel stocks as the strike by some truckers' associations entered the second day on Tuesday.
Diesel in Mumbai costs Rs 79.72 per litre at IOC outlets and Rs 79.79 at BPCL outlets.
Global crude oil prices have slumped by 49 per cent during the same period
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
To cut subsidy bill and reduce fiscal deficit, the previous United Progressive Alliance government had restricted the number of subsidised domestic cylinders per household to six every year in September 2012, revising it to nine the following January
After diesel, the government is considering raising cooking gas (LPG) and kerosene rates in small doses of Rs 5 per cylinder and Rs 0.50-1 a litre every month to wipe out Rs 80,000 crore subsidy on the two fuels.
The phased increase of prices is being done to sell the fuel at international prices.
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.
The ruling United Progressive Alliance's political leadership is holding consultations on options like raising diesel and LPG prices to cut an unprecedented Rs 160,000 crore (Rs 1,600 billion) revenue loss expected from selling auto and cooking fuel below cost this fiscal.
Addressing a public event in Kolhapur city on Monday evening, Fadnavis pointed out instances wherein women were tricked into inter-faith marriage and subsequently abandoned after they gave birth to children.
Hindustan Motors Limited, the first Indian car company, is planning to launch cars on its ambassador platform with sequential liquefied petroleum gaseous (LPG) injection systems in three months.
Indian govt must find solution to ever increasing LPG subsidy. Govt must cap LPG subsidy.
Raising the issue during Zero Hour, Congress member Jagdambika Pal said the move had led to a flourishing black market and made a strong demand for raising the cap of LPG cylinders from six to at least 12.
Hindustan Motors Limited, a C K Birla group company, on Sunday launched the LPG version of its Ambassador for the taxi and private car segments in the country.
The Direct Benefit Transfer for LPG scheme was rolled out in 291 districts from June 1, 2013 in six phases to do away with the practice of selling the fuel at below cost rates.
ONGC on Friday said it hopes to begin marketing of LPG and Kerosene soon.
A clarification on delinking Aadhaar account from disbursal of subsidised LPG cylinders would be issued within a week, Petroleum and Natural Gas Minister Veerappa Moily said during Question Hour.
The government wants to bring down the subsidies on kerosene, LPG and diesel in a way that does not impact the people in a major manner and takes away subsidies from people who do not deserve them.
Officials said the oil marketing companies had provided data to the Income Tax department.
The entire census and NPR exercise is likely to cost the government over Rs 12,000 crore, the officials said.
Govt targets 1 cr consumers to give up LPG subsidy.
Petroleum Minister Ram Naik said there was no shortage of domestic cooking gas in the country, as imports made up for the shortfall in LPG output arising out of the shutdown of a crucial unit in the Jamnagar refinery of Reliance Industries Ltd.
Rs 7,024 cr transferred under LPG cash subsidy scheme.
The 5-kg cylinder will be price at market rate.
