-The Hindustan Times Following a steep fall in global Crude Oil prices, the oil marketing companies have slashed petrol prices by Rs. 2.46 to Rs. 3.22 a litre — the second reduction this month — from Thursday midnight. Now, petrol in Delhi will cost Rs. 67.78 a litre — down by Rs. 2.46 — from Rs. 70.24 a litre. In Mumbai, the price will come down by Rs. 3.10 to Rs. 73.35...

The oil marketing companies are likely to slash the petrol prices by up to Rs. 4 a litre from July 1. The trigger: The steep fall in global prices of Crude Oil as well as petrol on which the companies base the domestic prices every fortnight. The price cut will come as a big respite for the consumer after the recent increase of Rs. 7.54 a litre on May 23...

Plans are afoot to cap the number of subsidised LPG cylinders at six to eight per annum to reduce the losses of state-run oil firms and bring down the burgeoning subsidy bill. Oil ministry officials said consumers might have to pay more for every additional cylinder, and the amount would be gradually linked to market rates. Sources said the finance ministry had asked the oil ministry to revisit its proposal made last...

-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...

-Reuters Inflation may have accelerated at its fastest pace this year in May, driven by higher food and fuel prices, impeding chances of a rate cut by the central bank at its review next week, a Reuters poll showed. The wholesale price index, India's main inflation gauge, is expected to rise 7.60 percent in May versus a year ago, compared with April's 7.23 percent, the poll of 31 analysts showed. Forecasts ranged from...