-IANS NEW DELHI: As part of its efforts to conserve fuel, the union government proposes to declare one day in a week as " Bus Day" when all employees will use public transport, petroleum minister M Veerappa Moily on Tuesday said. "One day in a week is to be declared as 'Bus Day' as part of the petroleum ministry's mega fuel conservation campaign," Moily told media persons here. "I have also urged all...
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Diesel, LPG hike decision in a few weeks: oil secretary
-Reuters Govt is considering Rs3-5 hike in diesel prices The government will decide on raising the retail prices of diesel and cooking gas (LPG) in a few weeks, the oil secretary said on Thursday, in a bid to cut the biggest item in its import bill and support the local currency. India, the world's fourth-biggest oil consumer, is considering a Rs 3 to Rs 5 hike in the price of diesel, which...
More »Steep fuel price hike likely as under-recoveries rise -Rajesh Chandramouli
-The Times of India CHENNAI: With the oil ministry looking to announce steps to curb fuel consumption on September 16, industry insiders and analysts expect a steep one-time increase in prices of diesel and domestic LPG. In several key cities, the under recovery in domestic LPG is more than double that of the selling price while in diesel, the gap has increased to Rs 12.12 a litre from Rs 9.03 per litre...
More »GET READY FOR HIGHER FOOD PRICES
The declining trend in food price inflation globally may not hold true for inflationary trends faced domestically due to a weakening Indian Rupee vis-a-vis the US Dollar. The recently released FAO Food Price Index (nominal) has shown a declining trend in July for the third consecutive month owing to lower international prices for grains, soy & palm oil, meat, dairy and sugar. (See links below) Based on FAO Food Price...
More »Wholesale price inflation likely edged up to 5 per cent in July
-Reuters BANGALORE: Inflation likely picked up slightly in July as its falling currency pushed up the price of imports, making raw materials more costly, and on rising food prices, a Reuters poll showed. Wholesale prices, India's key inflation measure, rose an annual 5 percent last month, the poll of 30 economists showed, hitting the ceiling of the Reserve Bank of India's commonly perceived comfort level. That was up slightly up from June's 4.89...
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