-News on Air The government is considering to open Liquified Natural Gas, LPG distribution agencies in every block of the country to bring it within the reach of the common man. This was stated by the Minister of State for Petroleum and Natural Gas Mr. RPN Singh in the Lok Sabha yesterday. He informed that during 2009-12, public sector Oil Marketing Companies (OMCs) commissioned 905 regular LPG distributorships and 1,026 Rajiv Gandhi...
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Government agrees in-principle to free diesel prices: Finance Ministry
-PTI The government on Tuesday said it has agreed in-principle to deregulate diesel prices, but is not considering similar proposal for the cooking gas. "Government has, in principle, agreed to make the prices of diesel market determined," Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha. While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a...
More »Cut excise or we hike petrol price by Rs 10/L, says IOC
-The Times of India Taking a cue from the RBI governor D Subbarao, market leader Indian Oil Corporation indulged in grand standing on Tuesday by saying state-run retailers would raise petrol price by almost Rs 10 per litre, if the government did not reduce excise duty or did not compensate their Rs 49-crore daily loss on the fuel. "We have been very patient, not raising prices since December despite our cost of...
More »A bullet still unbitten
-The Business Standard Petrol decontrol has become a farce It will soon be two years since petrol was decontrolled, but few will happily celebrate this second birthday. The government-controlled oil companies that dominate the fuel market continue to sell petrol way below the market-determined price, exactly as was the case in the pre-decontrol era. The promise made then to decontrol diesel prices and allow periodic adjustment in prices of kerosene and liquefied...
More »It’s the executive’s job to fix fuel prices, not court’s: Supreme Court
-The Times of India The Supreme Court on Monday said pricing of petrol and diesel determined by a complex mechanism fell exclusively within executive's policy domain and refused to entertain a public interest litigation demanding rollback of repeated sharp hikes in motor fuel prices. Ex-MP P C Thomas had filed the appeal in the apex court challenging a Kerala high court's decision to dismiss his PIL questioning "irrational and hypothetical fixation of...
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