New Delhi: The Prime Minister's Chief Economic Advisor Dr C Rangarajan has admitted that a hike in diesel and LPG prices is imminent despite a steep hike in petrol prices last week. While speaking to Karan Thapar on Devil's Advocate, Dr Rangarajan said the government can soften the blow but fuel price hike is the need of the hour to contain the fiscal deficit. Here's an excerpt of the interview:...
07:17 AM, Jun 02, 2012
Chennai: Tamil Nadu Chief Minister J Jayalalithaa on Friday accused the central government of adopting a callous approach to the kerosene needs of the poor in Tamil Nadu by reducing its allocation. In a letter to Singh, Jayalalithaa cited the reduced allocation of kerosene to Tamil Nadu to 39.429 kilo litre (KL) for April-June 2012 from 44,580 KL earlier. She said the poor in rural and urban areas depended on...
05:18 PM, May 25, 2012
How guilty is the government of mishandling the situation on petrol prices? ...
09:23 PM, May 24, 2012
Mumbai: The government has a lot on its plate right now from the free-falling rupee to the twin deficits which are spiraling out of control. But it dealt the biggest blow to the common man today by hiking petrol prices effective from midnight with the steepest ever increase of Rs 7.50 per litre. The government had been building ground for this decision. It has bitten the bullet finally, a day...
10:17 PM, May 23, 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: Stating that India faces "formidable" challenges on the energy front, Prime Minister Manmohan Singh today said spiralling international oil prices have put a strain on the country's import bill and domestic prices need to be rationalised. "With imports accounting for about 80 per cent of our crude supplies, the spiralling prices of crude in the international market have put a severe strain on our import bill," he said...
11:50 AM, Apr 28, 2012
New Delhi: State-run oil companies have served an ultimatum to the government that they will raise petrol prices by Rs 9.6 a litre if excise duty is not cut or they are not provided compensation for Rs 49-crore per day loss on fuel sale. "We have been very patient, not raising prices since December despite our cost of production spiralling. But there is a limit to which we can borrow...
06:30 PM, Apr 17, 2012
New Delhi: Already at the receiving end of political backlash after the petrol price revision, the government is not looking at raising prices for now of subsidised diesel, kerosene and cooking LPG despite oil PSUs losing a record Rs 360 crore per day. A top oil ministry official said it will be "suicidal" to even think of raising prices of diesel, LPG or kerosene just before Parliament is to meet...
06:33 PM, Nov 18, 2011
New Delhi: Already at the receiving end of political backlash after the petrol price revision, the government is now not looking at raising prices of subsidised diesel, kerosene and cooking LPG despite oil PSUs losing a record Rs 360 crore per day. A top oil ministry official said it will be "suicidal" to even think of raising prices of diesel, LPG or kerosene just before Parliament is to meet or...
05:36 PM, Nov 18, 2011
New Delhi: It's been two nights since the petrol hike that brought forth protests across India and now the government sources say there wont be any more hike especially on diesel, LPG and Kerosene. Its the fierce opposition from allies which may force the government to put on hold decontrol of diesel, LPG and kerosene which means their prices may not be raised for now. In fact government sources say...
09:19 PM, Nov 05, 2011
New Delhi: After the Rs 50 hike in LPG price, be ready to spend more. Diesel, kerosene and LPG price hike now threatens to push up inflation - which is already at 9 per cent - to double digits. The rise in Diesel pushes up transport cost, adding to the inflation rate by 0.30 per cent. LPG, Kerosene and diesel carry a weightage of about 6.3% for calculating inflation. Fruits...
12:00 AM, Jun 28, 2011
Mumbai: Led by BPCL, state-run oil companies rallied in morning trade on the BSE on Monday after the government announced a hike in fuel prices to ease pressure on their margins. Shares of Bharat Petroleum Corporation Ltd (BPCL) surged by 8.29 per cent to touch a month's high of Rs 687 on the BSE, while Hindustan Petroleum Corp Ltd (HPCL) gained 6.12 per cent to touch a one-month high of...
11:32 AM, Jun 27, 2011
New Delhi: Massive protests took place across the country against the UPA government's decision to hike the price of diesel by Rs 3, cooking gas by Rs 50 and kerosene by Rs 2. Expectedly this anti-aam aadmi measure has united the Opposition. The BJP minced no words and called for a roll back. BJP leader Sushma Swaraj said, "This is the tenth hike. This time victims are housewives, farmers and...
07:35 AM, Jun 26, 2011
New Delhi: A day after hiking fuel prices that led to a lot of anger among consumers across the country - the Congress is in damage control mode. The party has asked its chief ministers to cut cess on LPG. West Bengal Chief Minister Mamata Banerjee has taken the lead. An ally of the UPA - she had slammed the Central government for the hike. LPG in her state will...
04:18 PM, Jun 25, 2011
New Delhi: The Government on Friday raised diesel, Kerosene and LPG prices simultaneously. The hike came after a high power panel, headed by Finance Minister Pranab Mukherjee, finally decided to bite the bullet. Diesel will now cost Rs 3 more - so it's Rs 40.75/litre in Delhi from Delhi Rs 37.75 earlier. In Kolkata it will now cost Rs 43.06/litre, In Mumbai it will be as high as Rs 45.06/litre...
07:50 AM, Jun 25, 2011
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