-The Business Standard Under-recovery estimated to touch Rs 1.5 lakh cr in FY14 due to rising crude oil prices & falling rupee The fall in the rupee to a new low this week has made the government jittery, as the under-recovery on petroleum products is threatening to touch Rs 150,000 crore in 2013-14, despite phased diesel decontrol and capping of subsidised cooking gas cylinders. According to the petroleum ministry's estimates, for every rupee...
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Natural gas price doubled, may trigger price rise -Anupama Airy
-The Hindustan Times Biting the bullet on a tough reform measure, the government on Thursday took a politically sensitive decision to double natural gas prices to $8.4 (about Rs. 510.13) per unit from April 1 next year. This move will push up the price you pay for everything from food items to public transport. On the positive side, the decision is expected to attract foreign investors in the energy sector as the...
More »LPG use in country falls due to cap on subsidized cylinders -Rajesh Chandramouli
-The Times of India CHENNAI: A tight vigil against diversion of subsidized fuel meant for domestic use seems to be paying off. The consumption of liquefied petroleum gas (LPG), commonly called cooking gas, has started to dip since government capped sale of subsidized cylinders to every household and for the first time ever, sales have fallen for two successive months in comparison to the corresponding period of the previous year. Consumption...
More »Prices of vegetables & spices crash upto 20% due to the brisk start to monsoon -Sutanuka Ghosal
-The Economic Times KOLKATA: Prices of vegetables and spices have dropped up to 20% in the past month and are likely to remain low as higher output along with the brisk start to the monsoon has calmed the market. The drop in vegetable prices, on top of the global fall in various commodities from aluminium to zinc, is good news for policymakers as stubbornly high inflation has hindered moves to cut interest...
More »Costly Ethanol import likely to make petrol pricier by 4 rupees-Rajeev Jayaswal
-The Economic Times NEW DELHI: Petrol could become costlier by about 4 a litre if the government compels oil firms to sell 5% ethanol-blended petrol across the country by next month as these companies would be forced to import huge quantities of the biofuel at exorbitant rates. But, the Cabinet, which will meet soon to discuss the issue, may relax compulsory doping as it would want Petrol Prices to rise sharply, months...
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