Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Oil companies, state govts step in to douse petrol fire-Anupama Airy & Aurangzeb Naqshbandi

Oil companies, state govts step in to douse petrol fire-Anupama Airy & Aurangzeb Naqshbandi

Share this article Share this article
published Published on May 25, 2012   modified Modified on May 25, 2012

A day after the steepest ever petrol price hike of Rs. 7.54 sparked protests by UPA allies and Opposition parties in several parts of the country on Thursday, there were strong indications that the government would cushion the blow for the common man. Petrol prices may come down by Rs. 3-4 a litre in the next few days as state governments readied plans to slash local taxes and oil companies hinted that if the current softening of crude prices continues, it would prompt them to reduce retail prices of the precious fuel.

Already, Congress-ruled states Kerala and Uttarakhand on Thursday reduced local taxes on petrol that will bring retail prices down by Rs. 1.63 per litre and Rs. 1.87 per litre, respectively. Other states, including Delhi, are likely to follow suit.

Oil companies indicated they that they may soon cut prices by Rs. 1.50.

Petroleum minister S Jaipal Reddy cut short visit to Turkmenistan by a day to arrive in the Capital on Thursday amid the intensifying political backlash.

With the Congress stepping up pressure on the government for a rollback, Reddy assured the party leadership that he would talk to the oil companies.

"The party is hopeful that some kind of a modus operandi involving the Centre, states and oil companies will be arrived at. We are hopeful that the government would find a way out to provide relief to the common man," Congress spokesperson Manish Tewari said.

RS Butola, chairman and managing director of Indian Oil Corporation, said, "The current trend (in international prices) indicates that prices (of petrol) can come down."

Railway minister Mukul Roy skipped the cabinet meeting in Delhi and led a Trinamool Congress march in Kolkata to protest against the steep hike.

Union minister MK Alagiri (DMK) skipped the meeting too. The NCP said agriculture minister Sharad Pawar was abroad and Praful Patel had already informed the cabinet he wouldn't be attending the meeting.

The Hindustan Times, 25 May, 2012, http://www.hindustantimes.com/business-news/WorldEconomy/Oil-companies-state-govts-step-in-to-douse-petrol-fire/Article1-860845.aspx


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close