-The Times of India State-run fuel retailers on Saturday reduced petrol price by Rs 1.68 per litre, excluding state taxes. This means consumers in Delhi would pay Rs 2 less per litre at pumps from midnight and will see an additional 92 paise reduction next week after the local government notifies a reduction in the value added tax (VAT). In other states, the extent of decline would vary by a few paise...

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....

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...

-The Economic Times The government has no immediate plans to raise the retail prices of diesel, kerosene and cooking gas, Oil Minister S. Jaipal Reddy said on Monday. "I am not touching (the prices of) diesel, LPG (liquefied petroleum gas) or kerosene," Reddy said, adding, no date has yet been fixed for a meeting of a ministerial panel to review the prices of the three subsidised fuels. State-owned oil fuel retailers announced an...

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...