-The Times of India Petrol car owners may soon heave a sigh of relief as oil marketing firms are expected to cut petrol prices by up to Rs 2 per litre on Friday due to falling international crude prices. Crude prices, which fell to $96.5 per barrel on Wednesday, the lowest level in the last one year, have provided enough legroom for the oil firms to reduce petrol prices.  State-owned oil marketing...

State-run fuel retailers don't tire of flashing their "autonomy" to justify raising petrol price. But when it came to a reduction on Thursday, they suddenly appeared to have developed political bones: the three oil marketers firms hastily pulled back plans to cut price by Rs 1.60 or so, excluding taxes, to prevent the opposition from taking credit. The retailers had raised petrol price by Rs 6.28, excluding taxes, on May 23....

-The Indian Express The Bombay High Court today directed Centre, Petroleum Ministry and Finance Ministry to file an affidavit by June 20 in response to a petition that claimed the recent petrol price hike was "illegal" as it lacked Parliament's approval and violated the Constitution. A bench of Justices R Y Ganoo and N M Jamdar ordered the respondents to file an affidavit explaining their stand on increasing the price of petrol. Apart...

Amid protests over India's steepest-ever petrol price hike last week, many are now beginning to ask the question: Is the government milking the common man to keep its oil companies profitable? Consider these: Each time, you fill your car with a litre of petrol in Delhi, the Centre gets richer by Rs. 14.78 and state government earns another Rs. 12.20. In 2010-11 ( the latest figures available), the Centre and state governments...

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...