New Delhi: Petrol prices may be revised on Friday with companies talking about a scope of cutting rates by Rs 1.50-1.60 a litre. On a day when BJP-led NDA and the Left parties called a Bharat Bandh against petrol price hike, the government appeared in no mood to announce a cut. "To my mind, there will be no revision in rates tonight," a senior official at one of the three...
09:45 PM, May 31, 2012
New Delhi: A united opposition on Thursday enforced Bharat Bandh to protest against petrol price hike. Several states especially those ruled by the NDA witnessed total shutdown with offices closed, markets wearing a deserted look along with major disruptions in train and road traffic. The Delhi-Howrah train route was the worst hit. Violence was also reported from some area although there have been no reports of any major clash or...
05:39 PM, May 31, 2012
There has been a lot of political uproar over the recent petrol price hike since a week. But there could be some talk of rolling petrol prices back partially. It may be recalled that last week, oil marketing companies announced an 11 per cent hike in petrol prices to cut down their losses of around Rs 6-8 which they incurred on selling petrol. However, the hike didn't go well with...
12:40 PM, May 31, 2012
Chennai: Just days after the Rs 7.50 per litre petrol price hike, there now seems to be a shortage of petrol in Chennai. Most of the petrol pumps in the city are running dry and the few that are open are witnessing massive crowds with people queuing up with cans and bottles to get petrol. While the petrol pump associations are blaming oil companies for not supplying enough fuel, oil...
03:21 PM, May 28, 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
Government owned Oil Marketing Companies (OMCs) raised the price of petrol by Rs 6.28 per litre on May 23, 2012. After the inclusion of local taxes, this price hike amounts to an increase of Rs 7.54 per litre in Delhi. India met 76 per cent of its total petroleum requirement in 2011-12 through imports. Petrol prices have officially been decontrolled since June 2010. However, it has been argued by experts...
07:47 PM, May 25, 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
Bhubaneswar: Odisha's ruling Biju Janata Dal (BJD) on Friday called for a statewide shutdown May 31 to protest the hike in petrol prices by oil marketing companies. At an emergency meeting, the office bearers of the party here decided to organise demonstrations and protests across the state on their own, even though the Left parties and the BJP-led National Democratic Alliance (NDA) also have called a nation-wide shutdown the same...
05:33 PM, 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
Jammu: Chief Minister Sheila Dikshit on Thursday indicated that Delhi government may consider cutting taxes on petrol to provide some relief from the hike in fuel price. "We will see what we can do," Dikshit told reporters when asked whether her government will reduce VAT on petrol. Dikshit, however, justified the steep hike saying oil companies were incurring huge losses and the hike was necessary. She is on a private...
01:30 AM, May 25, 2012
Locate your car in the interactive list below and check the corresponding distance column to get a quick estimate of how much extra load will the recent Rs 7.50 hike on petrol prices add to your monthly fuel bill. ...
02:58 PM, May 24, 2012
New Delhi: A partial rollback in the petrol price hike is on the cards with the Central Government realising that the steep increase of over Rs 7.50 per litre could have a very heavy political cost. Sources say that while the Congress wants the rollback to be in the range of Rs 3-5, the government is likely to go ahead with a cut of around Rs 2-2.50 per litre. The...
02:56 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
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