-The Times of India   The ministry of Petroleum and natural gas on Saturday said that kerosene allocation to Gujarat has been reduced, keeping in view the substantial LPG penetration in the state. Gujarat's monthly quota of kerosene for distribution under the public distribution system (PDS) has been slashed by 32.19% from 76,712 kilolitres (KL) in 2010-11 to 52,020 KL in 2011-12, effective from June 1. The state government had raised...

Every family below poverty line may get over Rs 400 per month from the government from April next year in lieu of fuel subsidy for kerosene and liquefied Petroleum gas cylinders as part of India's first direct cash transfer scheme.   The move, which is expected to be considered by Empowered Group of Ministers (EGoM) on June 9, is aimed at checking use of kerosene for fuel adulteration and reduce financial...

The food ministry is set to oppose the mandatory 5% ethanol blending programme, fearing diversion of foodgrain for manufacture of ethanol. The ministry has called for the report of the expert panel headed by Planning Commission member Saumitra Chaudhuri in order to "review" the programme. The Petroleum ministry was expected to soon send the report to the Cabinet Committee on Economic Affairs for a final decision after factoring in the dissent notes...

-The Business Standard   Union finance minister Pranab Mukherjee was being economical with the truth when he said that last Saturday’s petrol price hike decision was entirely that of oil marketing companies (OMCs). True, the government correctly but belatedly deregulated petrol pricing several months ago, but it is clear that despite a sharp increase in global crude oil prices in the past six months, the OMCs restrained themselves from increasing domestic...

-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...