Petrol price may be reduced by about Re 1 per litre while diesel price may be hiked by 40-50 paisa a litre from March 15 or 16. While petrol prices are being cut in step with falling international oil rates, diesel rate increase would be in line with the January decision to raise prices in small dozes every month till all of the Rs 11 per litre losses are eliminated....
12:59 PM, Mar 14, 2013
Politicians across the board have criticised the recent hike in fuel prices. Key UPA ally DMK on Saturday condemned the petrol price hike and demanded that government retain its control on pricing of petroleum products besides seeking a change in pricing policy. ...
03:04 PM, Feb 16, 2013
Diesel prices set to go up monthly after the government decided to withdraw diesel subsidy. Oil companies say they will increase the price of diesel by 40 to 50 paise per litre every month. ...
02:22 PM, Feb 01, 2013
Red lines have been drawn for next month's Union Budget, Finance Minister P Chidambaram has said ruling out abandoning of all subsidises while non-merit ones could be eliminated over a period of time. ...
04:23 PM, Jan 30, 2013
In a sharp attack on the Centre's dual pricing policy on diesel for bulk consumers, Tamil Nadu Chief Minister Jayalalithaa on Friday termed it as "ill-conceived" and "short-sighted" and demanded its withdrawal. In a hard-hitting letter to Prime Minister Manmohan Singh, the Chief Minister said she was "appalled at the callousness and deviousness of this shocking move that defies all logic" and accused the UPA government of paying only "lip...
11:43 AM, Jan 25, 2013
Changes to diesel prices in India do not need parliamentary support and are viewed as an executive decision because oil companies are owned by the government, Finance Minister P Chidambaram said on Tuesday. Chidambaram made the comments at a media briefing after meeting investors in Hong Kong in a drive to try and boost capital flows into Asia's third-largest economy. ...
05:59 PM, Jan 22, 2013
It appears that partial deregulation of diesel is here to stay, and Oil Minister Veerappa Moily has ruled out the possibility of a rollback in diesel prices. ...
12:21 PM, Jan 19, 2013
West Bengal Chief Minister Mamata Banerjee on Friday termed as "unfortunate" and "anti-people" the hike in diesel price and demanded its immediate rollback in the interest of the common people. ...
10:59 PM, Jan 18, 2013
The government on Thursday took the first step towards diesel decontrol and allowed the oil companies to raise prices from time to time, but kept the mechanism to be followed unclear. ...
04:42 PM, Jan 17, 2013
The Cabinet on Thursday refused to take a call on increasing the prices of diesel, kerosene and LPG and instead put the onus of oil marketing companies to decide on diesel price from time to time. ...
01:31 PM, Jan 17, 2013
The government is "seriously" considering revising rates of LPG and diesel prices but no decision has been taken as yet, Oil Minister M Veerappa Moily said on Wednesday. "All price hike or price reduction...proposals are under serious consideration. We have not taken any decision," he told reporters in the national capital. ...
01:10 PM, Jan 16, 2013
Shares in Oil & Natural Gas Corp rose as much as 3.6 per cent on January 10 as part of a rally across oil companies after the oil ministry moved a proposal to raise diesel prices to the federal cabinet. ...
11:26 AM, Jan 10, 2013
Oil secretary says diesel prices to be hiked by 10 rupees over the next 10 months. ...
10:17 PM, Dec 27, 2012
New Delhi: Trinamool Congress (TMC) chief Mamata Banerjee arrived in Delhi on Sunday ahead of the rally she will hold at Jantar Mantar on Monday. The TMC is set for its agitation on Monday against the government for raising diesel prices and introducing FDI in multi-brand retail. Mamata had withdrawn support from the UPA after it refused to roll back the reforms meant to narrow down India's huge fiscal deficit...
11:26 AM, Sep 30, 2012
New Delhi: Diesel will now be cheaper in Bihar by 85 paise per litre after the state government reduced the Value Added Tax (VAT) from the existing 18 per cent to 16 per cent. Chief Minister Nitish Kumar had said on Tuesday that tax on diesel will be reduced so that farmers do not suffer. "There will be reduction in the price of diesel in Bihar as the state government...
07:31 PM, Sep 20, 2012
New Delhi: Days after the steepest diesel price hike, oil companies on Saturday raised premium or branded petrol and diesel rates by Rs 6.36 and Rs 19.55 per litre, respectively. The government, on Thursday, had raised diesel price by Rs 5.63 per litre and allowed the oil companies to price premium or branded petrol and diesel at market prices. Subsequently, the premium or branded petrol in Delhi is being sold...
09:27 PM, Sep 15, 2012
New Delhi: Railways have no plans as yet to increase freight charges despite the steep hike in diesel prices which have put an additional burden of over Rs 1200 crores on it. "There is no move as yet to increase freight charges even if it (diesel price hike) hits us hard," said a senior Railway Ministry official. Railways consume about 250 crore litres of diesel per annum to run its...
03:49 PM, Sep 14, 2012
The Washington Post and the writer of the story have categorically denied any question of an apology for criticising Manmohan Singh. ...
11:46 PM, Sep 05, 2012
New Delhi: The Indian economy is likely to grow at 6.7 per cent in the current fiscal year, C Rangarajan, chairman of the PM's economic advisory council (PMEAC) told reporters during the mid-year economic outlook on Friday. The PMEAC has also pegged the inflation between 6.5 and 7 per cent. In recent years, the advisory panel has been overly optimistic about India's economic performance, and the revised forecasts are higher...
12:15 PM, Aug 17, 2012
Chennai: Observing that the country's rising fiscal deficit was due to import of oil products, industry body FICCI on Sunday mooted the idea of decontrolling diesel prices or the government consider imposing higher duty on imported diesel cars. "Government should now think of decontrolling the price of diesel...", FICCI President Rajya Vardhan Kanoria said. Kanoria, who will chair the FICCI's National Executive Committee meeting in Chennai on Monday, told reporters...
10:34 PM, Jul 08, 2012
