New Delhi: An increase in petrol, diesel, domestic cooking gas (LPG) and kerosene prices looks "imminent" after the Finance Ministry said it has no money to provide for fuel subsidy. "This (hike) is imminent. There is no question of holding back now," a top oil ministry official said on Tuesday. In all possibility, prices may be increased after the current monsoon session of Parliament ends on Friday. Diesel, domestic LPG...
06:17 PM, Sep 04, 2012
Chennai: A day after the Madras High Court cleared decks for the commissioning of unit-1 of Kudankulam Nuclear Power Project, a senior official at the plant on Saturday said they would commence loading real fuel in the Indo-Russian venture by the end of next week. "We are presently doing the preparatory work. A team from the Atomic Energy Regulatory Board is expected next week. They will inspect the site and...
04:22 AM, Sep 02, 2012
New Delhi: Jet fuel price was on Friday hiked by a steep 7.6 per cent, the biggest ever increase that took ATF price to all-time high of Rs 72,282 per kilolitre. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 5,146.16 per kilolitre (kl), or 7.6 per cent, to Rs 72,281.92 per kl with effect from midnight tonight, Indian Oil Corp, the nation's...
08:17 PM, Aug 31, 2012
Washington: The Obama administration has finalised regulations that will force automakers to nearly double the average gas mileage of all new cars and trucks they sell by 2025. The rules mean that all new vehicles would have to get an average of 54.5 miles per gallon in 13 years, up from 28.6 mpg at the end of last year. The requirements will be phased in gradually between now and then,...
01:14 PM, Aug 29, 2012
New Delhi: Air India has not yet decided about importing Air Turbine Fuel (ATF) directly, Civil Aviation Minister Ajit Singh said on Tuesday. The minister said this in a written reply in the Rajya Sabha on being asked whether Air India is going to save Rs 300 crore by direct import of the jet fuel. ATF now sold in the country is nearly 50-60 per cent costlier than the price...
01:03 AM, Aug 29, 2012
New Delhi: The Air Force is planning to deploy six mid-air refuelling tanker aircraft at Panagarh air base in West Bengal, a step that will boost the striking range of its fighter planes like Su-30 MKIs based along the China border. IAF is expected to soon award the contract for procuring six mid-air refuelling tanker planes for which Russian-origin Ilyushin-78 and European A-330 MRTT are in the race, sources told...
05:17 PM, Aug 20, 2012
New Delhi: With losses widening to Rs 3.56 per litre, public sector oil firms on Thursday sought an immediate hike in petrol price but were unsure if the government will allow them to do so. State-owned oil firms had last hiked petrol price by Rs 0.70 per litre with effect from July 24 and since then global oil rates have soared more than USD 12 per barrel. "We are losing...
08:59 PM, Aug 09, 2012
New Delhi: With a high-powered ministerial panel on fuel pricing being scrapped, a Cabinet committee may consider raising the prices of diesel, LPG and kerosene, Oil Minister S Jaipal Reddy indicated on Wednesday but refused to say when the issue would be taken up. After Pranab Mukherjee quit as Finance Minister to become the President, the Empowered Group of Ministers (EGoM) on fuel prices he headed has been scrapped. "We...
08:07 PM, Aug 01, 2012
New Delhi: The drought threatening India due to elusive monsoon rains will make it politically harder for the government to raise prices of subsidised fuel, delaying a reform urgently needed to rein in the country's fiscal deficit, Montek Singh Ahluwalia, deputy chairman of the Planning Commission, told Reuters. So far India's monsoon rains are 22 per cent below average and are unlikely to pick up enough to avert a drought,...
06:05 AM, Aug 01, 2012
Bolpur: Sticking to her stand of hitting the streets against the rise in fuel prices, West Bengal Chief Minister Mamata Banerjee on Friday said she would not let the Marxists take advantage from her confrontations with the Congress-led UPA. "I have always protested whenever the central government has increased the prices of petrol and diesel. I don't support price rise of oil. I will continue to protest against this price...
06:38 PM, Jul 27, 2012
New Delhi: An Indian scientist has patented a technology that cleans your car's emissions using pond scum. In time, it could also generate the fuel to run your car. When Dinabandhu Sahoo came to Delhi three decades ago, all he had was a dream to make it big. Dr Dinabandhu Sahoo, Department of Botany, University of Delhi, says, "The first night I slept at the railway station. I wanted to...
10:50 AM, Jul 24, 2012
New Delhi: Due to the policy of administered pricing of petrol, diesel, LPG and kerosene, the under recoveries on account of the subsidised petroleum for 2011-12 were to the tune of Rs 1,40,000 crore. This does not include the under-recovery on account of petrol as its price was set free but with Indian characteristics. The government has not permitted the oil marketing companies (OMCs) to raise petrol price and also...
11:36 AM, Jul 17, 2012
New Delhi: India's headline inflation slowed to its lowest level in five months in June helped by a moderation in fuel prices, adding to pressure from business leaders for a cut both in interest rates and fuel subsidies to help revive the lacklustre economy. The wholesale price index (WPI) rose a lower-than-expected annual 7.25 per cent in June, its slowest rise since January, following a drop in prices of some...
07:21 AM, Jul 17, 2012
Tehran: An Iranian semiofficial news agency says a parliamentary committee has approved a bill requiring the government to design nuclear-powered merchant ships and provide them with nuclear fuel. Iran says it is designing a nuclear submarine. But nuclear-powered ships other than warships are rare and the International Atomic Energy Agency has said in the past that such merchant ships would be uneconomical. The bill appears to be a symbolic gesture...
09:32 AM, Jul 16, 2012
New Delhi: India is likely to raise diesel prices after presidential polls on July 19, an oil ministry source said on Thursday, as the government attempts to cut the amount of money it pays out to keep prices lower. "This has been the thinking for quite some time," that a price rise could come after presidential polls, the source said, requesting anonymity. "It is inevitable. By how much I can't...
02:59 PM, Jul 12, 2012
New Delhi: The government is expected to file a reply in the Bombay High Court on Wednesday regarding a PIL against hike in petrol prices. The court had last week sought a response from the Centre, Petroleum and Finance Ministries on a PIL that claims the hike was illegal as it wasn't endorsed by Parliament. The PIL, filed by Rajendra Phanse, submitted that the petrol prices were hiked abruptly on...
09:09 AM, Jun 20, 2012
New Delhi: With economic concerns increasing, time is running out for the UPA claimed the government's Chief Economic Advisor Kaushik Basu. Speaking to Rajdeep Sardesai, Basu said that two reforms are the need of the hour - FDI in retail and partial deregulation of diesel prices. Pitching for decontrol of diesel prices, Basu suggested the government can start the process through a "gentle" rise in rates before leaving it open...
07:31 AM, Jun 20, 2012
New Delhi: State-owned oil firms have decided to "wait-and-watch" the international scenario and the rupee-dollar rate before deciding to cut petrol prices. "The Greece vote is behind us now. But the Fitch rating downgrade has led to a sharp fall in rupee against the US dollar. There is high volatility in the market. For now we will watch the situation," said a top official at one of the three state-owned...
08:17 PM, Jun 18, 2012
New Delhi: Petrol price will come down by 92 paise while cost of diesel will go up by 37 paise from midnight Sunday in the capital, with the Delhi government issuing a notification adjusting the Value Added Tax (VAT) on the two fuels. Petrol will cost Rs 70.24 per litre from current Rs 71.16 per litre and diesel will cost Rs 41.28 per litre as against the current rate of...
02:54 AM, Jun 17, 2012
New Delhi: In a major relief to cash-strapped airlines, jet fuel (ATF) prices were on Friday reduced by a massive 5 per cent, the steepest reduction in rates since February 2010. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was reduced by Rs 3,260 per kl, or 5 per cent, to Rs 62,410 per kl with effect from midnight tonight, according to Indian Oil Corp, the...
02:31 AM, Jun 16, 2012
