Chennai: Tamil Nadu Chief Minister J Jayalalithaa has said that the shortage of petrol and diesel in the state capital would end by Tuesday evening. After chairing a high-level meeting, Jayalalithaa said three ships carrying 67,000 kilo litres of diesel and petrol from Kochi arrived at Chennai port this afternoon. Efforts were being made to distribute this stock to the bunks of Bharat Petroleum, Indian Oil Corporation and Hindustan Petroleum...
04:25 PM, May 29, 2012
New Delhi: The Finance Ministry is considering raising the excise duty on diesel cars. The suggestion was mooted long back by the Oil Ministry. This came after the inter ministerial group on inflation and diesel pricing options met on Monday. However, Oil Minister Jaipal Reddy has categorically said that the government was not considering a hike in diesel, LPG and kerosene prices right now. Government sources said that the Empowered...
01:11 PM, May 28, 2012
New Delhi: The UPA government may face more flak over the next few days. Sources have told CNN-IBN that after petrol a diesel price hike is on the cards as well. In fact the government may hike prices as early as June. Sources have also said that the timing will depend on the political scenario, the way the rupee moves as well as on the market conditions. CNN-IBN has also...
07:33 AM, May 26, 2012
New Delhi: Strange but true, the subsidy on kerosene, LPG and diesel is twice the total budget of the ministries of rural development, drinking water and sanitation and, more than the budget of the Defence Ministry, Minister for Rural Development and Drinking Water Jairam Ramesh said on Friday. In his own words: "The total subsidy on diesel, kerosene and LPG comes to Rs 1,90,000 crore. Whereas, the total budget for...
07:17 PM, May 25, 2012
New Delhi: The UPA government came under intense pressure on Thursday from within the ruling coalition and protesters to roll back the steepest petrol price hike in the country's history, less than 24 hours after it took the unpopular decision cheered by investors. There had been signs that the beleaguered government was preparing to take the bolder step of cutting subsidies on other fuels weighing on its budget deficit, but...
11:19 AM, May 25, 2012
HYDERABAD: A day after oil companies announced the steepest ever hike in petrol price, auto-rickshaw drivers in the city seemed to have taken an oath to pass on the burden to the people, disregarding the mandatory meter chargers, and further fuelling public fury. At several places, people were seen arguing with the auto-drivers for overcharging them in the name of the petrol price hike. I travel the same distance to...
08:40 AM, May 25, 2012
Mumbai: The UPA government came under intense pressure on Thursday from within the ruling coalition and protesters to roll back the steepest petrol price hike in the country's history, less than 24 hours after it took the unpopular decision cheered by investors. There had been signs that the beleaguered government was preparing to take the bolder step of cutting subsidies on other fuels weighing on its budget deficit, but after...
09:35 PM, May 24, 2012
New Delhi: After public anger over the sharp 10 per cent petrol price hike, the government is trying to soften the blow. Under pressure from its allies, the Opposition and the public over the steep hike in petrol price, the Congress has asked all its chief ministers to cut state taxes on petrol. For every one rupee paid for petrol almost 40 paisa is state taxes. Uttarakhand and Kerala have...
02:21 PM, May 24, 2012
New Delhi: Congress has conveyed to the government that a hike in diesel prices was not advisable at the moment, according to sources. Congress also said that even though a hike in petrol prices was required, the timing was wrong. "Petrol price hike should not have taken place a day after the UPA-II report card was presented and Parliament session ended," Congress sources said. The Empowered Group of Ministers (EGoM)...
02:17 PM, May 24, 2012
New Delhi: The sharpest petrol price hike that was announced on Wednesday evening by oil companies is not the only burden that the UPA government has given to the common man on its third anniversary. Sources say the Empowered Group of Ministers (EGoM) will meet on Friday to discuss a possible hike in diesel and LPG prices too. Sources also say that oil companies are pushing for a Rs 5...
07:45 AM, May 24, 2012
An interactive graph displaying the hike in fuel prices (petrol, diesel, kerosene and LPG) in Delhi from 1989 to 2012. ...
06:40 PM, May 23, 2012
New Delhi: As the rupee continues its free fall, a hike in petrol, diesel and LPG prices is likely this week. The rupee fell to a record life low of 56 per dollar on Wednesday. The rupee on Wednesday ended at a record closing of 56 per dollar versus 55.39 per dollar on Tuesday. The Empowered Group of Ministers (EGoM) is likely to meet on a decision on fuel prices...
12:13 PM, May 23, 2012
Fatehgarh Sahib: Punjab Chief Minister Parkash Singh Badal on Sunday said any further hike in petrol and diesel prices would lead to more inflation that would break the common man's back. "If there is any further hike in petrol and diesel prices, this will lead to more inflation and will break the back of the common man," he said. "The Union government advises the state to reduce VAT on petroleum...
02:59 AM, Apr 30, 2012
Prime Minister Manmohan Singh on Saturday hinted at a hike in fuel prices after the government appraised Parliament of the need to rationalise diesel prices. ...
02:55 PM, Apr 28, 2012
New Delhi: In a politically and economically crucial and bold decision the government on Tuesday informed Parliament that it was willing to decontrol diesel prices. The government in a written reply told the Rajya Sabha that the decision to decontrol diesel prices has been taken in principle. However, the government added that retail selling prices would be moderated to insulate the common people. The decision comes just two days after...
01:48 PM, Apr 24, 2012
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