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. BPCL CMD RK Singh said on Thursday that prices could be cut by 1.5 to 2 rupees a litre if there is a drop in international crude prices. Indian Oil, Hindustan Petroleum and Bharat Petroleum had over the past one week indicated of a scope of reducing...
08:36 AM, Jun 01, 2012
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: After West Bengal Chief Minister Mamata Banerjee, another UPA ally, the DMK will protest against the petrol price hike on Wednesday. DMK chief M Karunanidhi will be leading the state-wide protest from Saidapet. The protest comes two days after the ruling AIADMK held a similar agitation demanding a rollback. The demonstration will also be targeting the state government for not rolling back the hike in milk prices, power tariff...
07:19 AM, May 30, 2012
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
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
Bhopal: Union Minister of State for Commerce and Industries, Jyotiraditya Scindia on Saturday said the BJP, which was strongly criticising recent hike in petrol prices, should not forget that the prices had gone up 35 times during the six years of NDA rule. When the BJP-led NDA was in power, a barrel of oil in the international markets used to cost only $ 12, Scindia said. The cost of an...
12:09 PM, May 26, 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
New Delhi: Oil Minister Jaipal Reddy met Prime Minister Manmohan Singh after returning from Turkmentistan. However, the Prime Minister's Office (PMO) insisted that the meeting was not scheduled to discuss the petrol price hike. Reddy has also been summoned by UPA chairperson Sonia Gandhi and he will meet her later on Friday to explain why the petrol price hike was necessary. Congress sources claimed that Sonia was unaware of the...
01:29 PM, May 25, 2012
New Delhi: Oil Minister Jaipal Reddy is likely to meet UPA chief Sonia Gandhi on Friday. Reddy was not in the country when the petrol hike announcement was made on Wednesday. The meeting comes against the backdrop of Congress President's concern over the Rs 7.54 a litre increase and the party hinting at the possibility of at least a partial rollback of the decision. Reddy who came back from his...
09:53 AM, May 25, 2012
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