-The Telegraph The Trinamul Congress was silent on the petrol price hike for the second day, its leaders only saying that Mamata Banerjee would speak on the issue. While Trinamul is still working on its response to the Rs 5 rise that the Left has pounced on to attack the UPA government, of which the party is a key member, finance minister Pranab Mukherjee today said the Centre could not be...
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Oil companies to hike petrol price by Rs 5/litre wef midnight
-The Economic Times In the steepest hike ever, state- owned oil companies today increased petrol price by about Rs 5 per litre with effect from midnight tonight. The increase in petrol price, which the oil firms had been holding since January even though crude oil had touched a two-and-a-half-year high, came a day after election results of five state assemblies were announced. IndianOil, Bharat Petroleum and Hindustan Petroleum will hike rates between...
More »Petrol price may be hiked by Rs 3
A hike in diesel and domestic LPG prices has been deferred for now, but an increase in petrol prices later this week looks imminent. An Empowered Group of Minister (EGoM) headed by Finance Minister Pranab Mukherjee was to meet on Wednesday to consider raising the diesel price by Rs 3-4 a litre and domestic LPG rates by Rs 20-25 per cylinder, but the meeting was deferred without assigning any reason. "No new...
More »Bid to restrict subsidised LPG use by R Suryamurthy
The government plans to restrict subsidised domestic LPG cylinders to six per household every year. For additional cylinders, consumers will have to pay the market price. Data show 65-70 per cent of households use 5-6 cylinders (14.2 kg) a year, while the remaining use more. In Calcutta, PSU oil marketing firms suffer a loss of Rs 329.73 by selling an LPG cylinder at Rs 365.10. A senior oil ministry official said the proposal...
More »Food Price Hike Worsens Poverty in Asia by Marwaan Macan-Markar
An annual meeting of Asian finance ministers and central bank governors in Hanoi is set to address the fate of 64 million people in the region on the brink of extreme poverty. They are the worst affected by soaring food prices, which have hit record highs in the first two months of this year. "The issue of food price inflation and food security will indeed be one of the key topics...
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