Oil Ministry

  • With eye on assembly polls, government considers 40-50 paise per litre cut in diesel price 2 days ago

    New Delhi: In a move that will put more money in your pockets, the Oil Ministry on Wednesday sought the Law Ministry's views on cutting diesel prices. The government is reportedly keen to cut diesel prices by 40 to 50 paise per litre. The Oil Ministry has asked the Law Ministry...
  • Oil Ministry yet to move Cabinet for diesel deregulation September 8, 2014

    New Delhi: As the fall in international oil rates brings domestic diesel retail price at par with cost, the Oil Ministry has not yet moved Cabinet for deregulation of the nation's most consumed fuel. Under-recovery or the gap between retail selling price and the cost of imports, this month dipped to...
  • No hike of LPG, kerosene prices: Petroleum Minister Dharmendra Pradhan July 4, 2014

    New Delhi: Petroleum Minister Dharmendra Pradhan said on Friday that there is no proposal to increase rates of subsidised LPG, kerosene and diesel. "There is no such proposal with the government," Pradhan said with reference to a report that his ministry is considering a note to the cabinet for raising kerosene...
  • Oil Ministry may propose hike in LPG price by Rs 250 per cylinder July 4, 2014

    New Delhi: The Oil Ministry is likely to move the Cabinet Committee on Political Affairs (CCPA) soon with an expert panel recommendations of raising cooking gas (LPG) rates by Rs 250 per cylinder and kerosene price by Rs 4 a litre. The ministry is preparing a draft note for consideration of...
  • Government puts on hold hike in LPG, kerosene rates July 2, 2014

    New Delhi: The government on Wednesday put on hold a hike in LPG prices in states including Karnataka, Madhya Pradesh and Kerala, where an increase in local levies had led to a rise in fuel rates. The increase in state levies such as entry tax and octroi led to prices...
  • Cabinet note proposes changes in Rangarajan formula on gas pricing: Sources June 25, 2014

    New Delhi: After due deliberations and discussions, the Oil Ministry is ready with a Cabinet note on gas pricing. The Ministry is awaiting a final call from the Cabinet on the uniform domestic gas price. According to sources, the Ministry in its note has proposed modifications in the that Rangarajan...
  • Oil Ministry proposes to hike LPG price by Rs 5 per cylinder: Sources June 24, 2014

    New Delhi: The Oil Ministry is considering a proposal to hike the price of LPG by Rs 5 per cylinder. The price of kerosene is also likely to be increased by Rs 1. The rise in prices comes amidst high level meetings being held over gas pricing. After Prime Minister Narendra...
  • Second high level meeting on gas prices today, decision likely soon June 24, 2014

    New Delhi: After Prime Minister Narendra Modi held a high level meeting on Sunday to take a decision on gas prices, his Principal Secretary Nripendra Misra is chairing a second high level meeting over the issue on Tuesday. The Oil ministry is working on new Cabinet note for gas prices....
  • Delhi becomes first kerosene-free city in India June 17, 2014

    New Delhi: The Delhi government announced that the national capital has become the first 'kerosene-free city' in the country. "With the successful implementation of 'Delhi: A Kerosene-Free City Scheme, 2012', no subsidised kerosene is being issued in the national capital and the country can save upto Rs 200 crore every year,"...
  • Diesel prices hiked by over re 1 a litre May 13, 2014

    Diesel prices have been hiked by a rupee and nine paise per litre with effect from Monday midnight. The hike excludes state sales tax or VAT. The hike will also vary across cities in India. The monthly increase in diesel rates were put on hold just before the elections began....
  • Diesel prices hiked by up to Rs 1 a litre May 12, 2014

    Diesel prices hiked by up to one rupee a litre with effect from midnight after Election Commission rejected the Oil Ministry's proposal made on the eve of elections to shelve the monthly increases in rates. Oil PSUs IOC, BPCL and HPCL had on April 1 skipped raising diesel rates as per...
  • Gurudas Dasgupta, Veerappa Moily lock horns over gas pricing May 2, 2014

    New Delhi: The war of words continues between Petroleum Minister Veerappa Moily and CPI leader Gurudas Dasgupta on the decision to hike gas prices. Gurudas hit out at Moily, after he accused him of carrying out a malicious campaign, saying the Petroleum Minister has violated the norms. "Moily is trying...
  • EC asks Oil Ministry to defer doubling of gas price March 24, 2014

    New Delhi: The Election Commission on Monday asked the government to defer till elections the controversial doubling of natural gas prices for companies like RIL from next month, a move that may torpedo the entire decision for at least a few months. "...after taking into account all relevant facts, including the...
  • Kejriwal takes credit for 20 per cent cut in Delhi CNG prices February 3, 2014

    New Delhi: Soon after the Oil Ministry slashed CNG prices in Delhi by 20 per cent, Chief Minister Arvind Kejriwal took credit for the Central government's move. Kejriwal congratulated Delhiites on Twitter over the reduction in CNG price in the national capital. "Congrats delhiites. Just a day before i took oath,...
  • CNG price may rise by steep Rs 8 per kg from April January 13, 2014

    Close on the heels of the biggest-ever increase of Rs 4.50 per kg, the cost of CNG may go up by a steep Rs 8 per kg from April 1 when natural gas prices will almost double. The government on Friday notified the pricing of all domestically produced natural gas at...
  • Petrol price hiked by 41 paise, diesel by 10 paise December 20, 2013

    New Delhi: Petrol price was on Friday hiked by 41 paise a litre following the government decision to raise commission paid to petrol pump dealers and firming global oil rates. Simultaneously, diesel rates were increased by 10 paise per litre due to a hike in dealers commission. The two increases, which...
  • Diesel price raised by 10 paise a litre on hike in commission December 20, 2013

    New Delhi: Diesel prices were increased by a little less than 10 paise a litre on Friday after the government raised the commission paid to dealers selling the fuel. The government has "decided to revise the dealer's commission on diesel from Rs 1,089 per kilolitre (or 1.089 per litre) to...
  • Diesel price hiked by 50 paise per litre from Saturday midnight November 30, 2013

    New Delhi: Diesel prices have been hiked by 50 paisa per litre, excluding VAT, with effect from Saturday midnight. The prices of petrol, however, remains unchanged. The price increase, the 11th since January, excludes local sales tax or VAT, oil companies announced. The price of diesel in Delhi will be hiked...
  • FTP: Oil minister Moily travels by metro: Should more VIPs use public transport? October 9, 2013

    Delhi Metro has a VIP commuter now as Petroleum Minister Veerappa Moily has started his drive to save fuel by commuting through metro to work. Petroleum Minister Veerappa Moily took the metro to the ministry on Wednesday. He plans to do so every Wednesday and he has also adviced his...
  • Aadhaar not mandatory for LPG subsidy: Veerappa Moily October 9, 2013

    New Delhi: Having made Aadhaar mandatory for receiving subsidised cooking gas (LPG) in 19 districts, Oil Minister M Veerappa Moily on Tuesday said the unique identification card will no longer be a must for giving subsidises unless cleared by the Supreme Court. The Oil Ministry is implementing the scheme for transfer...
  • Oil Minister Veerappa Moily travels to work in metro to save fuel October 9, 2013

    New Delhi: Petroleum Minister Veerappa Moily took the metro to the ministry on Wednesday. The minister took the Metro from a station near his residence and travelled to the Central Secretariat station, which is near Shastri Bhawan. The Petroleum Minister latest action is said to be part of a fuel conservation...
  • Petrol price cut by Rs 3.05 per litre, diesel hiked by 50 paise September 30, 2013

    New Delhi: In a good news for the people, petrol price has been cut by Rs 3.05 per litre, the first reduction in rates in over five months and the steepest in over five years. However, diesel price has been hiked by 50 paise per litre. The price changes announced...
  • Petrol price may come down by up to Rs 1.50/litre September 12, 2013

    New Delhi: Petrol prices may be cut by as much as Rs 1-1.50 per litre next week on falling international oil rates and appreciating rupee but a one-time hike in diesel and possibly LPG rates is still on the cards. Oil Secretary Vivek Rae said the issue of a one-time hike...
  • Moily takes a U-turn on petrol pump timings proposal amidst criticism September 2, 2013

    New Delhi: A day after the oil ministry proposal's to restrict petrol pumps timings generated huge criticism from Opposition and public, Oil Minister Veerappa Moily had taken a U-turn within the 24 hours. The government is in panic mode to cut costs amidst mounting oil imports bills and complaints of oil...
  • CPI criticises Oil Ministry proposal to restrict petrol pump timings, says govt clueless September 2, 2013

    CPI leader D Raja has criticised Oil Ministry proposal to restrict petrol pump timings. He said that the government is clueless and confused. ...
  • Restriction on fuel pumps will lead to adulteration, says petrol sector analyst September 2, 2013

    Petrol sector analyst Narendra Taneja has said that restriction on fuel pumps will lead to adulteration. He said, "There will be chaos in the society, you are creating panic in the market and you'll generate a black market overnight that will lead to adulteration. I don't think it'll be able...
  • Petrol prices may be hiked this week May 30, 2013

    New Delhi: Petrol prices may be hiked by up to Re 1 a litre this week as the rupee hit a 10-month low making oil imports costlier. As per the practice of revising rates every fortnight, petrol price revision is due on Friday and if Oil Ministry approves the increased...
  • Oil Ministry proposal on gas prices rejected May 15, 2013

    New Delhi: Oil Ministry's proposal for an across-the-board near doubling of natural gas prices has been rejected by the Cabinet Secretariat saying a ministerial panel headed by Defence Minister AK Antony did not have powers to do so. The Ministry had sent a draft proposal for the consideration of the Empowered...
  • SC dismisses plea challenging Vedanta-Cairn deal May 9, 2013

    New Delhi: The Supreme Court on Thursday dismissed a plea which had challenged the validity of the Cairn-Vedanta deal and said there was nothing malafide in the transaction. The court was hearing a petition challenging the validity of the $8.5 billion Cairn-Vedanta deal and had sought a CBI probe into...
  • Govt considering revising diesel, LPG rates: Moily January 16, 2013

    New Delhi: 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...