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2 days ago
Government diesel sales in profit first time in regulation era

New Delhi Sep 16 (IANS) For the first time in the history of the regulation era on diesel, the under-recovery, or revenue loss, applicable on the fuel for the second fortnight effective Sep 16 has been wiped out, and there is instead a profit on sales, the government announced Monday. Announcing the product-wise under-recovery of state-run oil marketing companies, the petroleum ministry ...

3 days ago
RBI governor calls for diesel deregulation at earliest

Mumbai, Sep 15 (IANS) The country should take advantage of international oil prices, that have fallen rapidly below the $100 per barrel-mark, to deregulate diesel prices, Reserve Bank of India (RBI) Governor Raghuram Rajan said Monday. Lower crude oil prices are helping consuming countries like us. We need to seize this moment to eliminate diesel subsidies completely, Rajan said addressi...

3 days ago
India's August inflation rate falls to five-year low

New Delhi, Sep 15 (IANS) India's annual rate of inflation, based on the wholesale price index, fell to a near-five-year low of 3.74 percent for August, raising expectations of a rate cut when at Reserve Bank's scheduled policy meet on Sep 30. According to data released by the commerce and industry ministry Monday, the annual inflation rate stood at 5.19 percent for the previous mont...

7 days ago
Global crude falls nearly $3 a barrel in a week, motorists rejoice

New Delhi, Sep 11 (IANS) With the rates of the Indian basket of crude oil falling almost $3 a barrel in a week after international prices dropped last month below the psychological barrier of $100, consumers are anticipating more cuts in petrol price following three reductions in August. While the OPEC crude rates went from $98.65 a barrel last week to $95.93 on the last trading day Wed...

17 days ago
Diesel at almost market price as under-recovery falls to 8 paise

New Delhi, Sep 1 (IANS) A day after the latest monthly hike in diesel rates, the under-recovery, or revenue loss, applicable on the fuel for the first fortnight effective Sep 1 has almost been wiped out, the government announced Monday, fuelling expectations of imminent market-pricing. The under-recovery on High Speed Diesel (HSD) applicable for the first fortnight of September effectiv...

18 days ago
'Petrol price cuts a boost for less polluting cars'

New Delhi, Aug 31 (IANS) The narrowing gap between petrol and diesel prices will hopefully push people towards less polluting petrol-run cars, citizens in the national capital say. The multiple petrol price cuts this month are a big relief for us middle class car-owners, especially now with prices going so high, Rajnish Garg, a Delhi resident, told IANS Sunday. With the price ...

19 days ago
Petrol cut by Rs.1.51 a litre, diesel hiked 50 paise

New Delhi, Aug 30 (IANS) With international crude oil rates dropping to around $100 a barrel, petrol prices were cut Saturday by Rs.1.51 a litre excluding local taxes, effective midnight, state-run oil marketers announced. The current levels of international oil prices and INR-USD exchange rate warrants a decrease in selling price of petrol in the domestic market, Indian Oil said in a...

24 days ago
Bus fares hiked in West Bengal

Kolkata, Aug 25 (IANS) Increasing the bus fares, the West Bengal government Monday announced setting up of a task force to revise the fares in accordance with the increase and decrease in diesel prices. The announcement was made by Minister of Legislative Affairs Partha Chatterjee following a meeting with Chief Minister Mamata Banerjee with six bus owners' associations who have been clam...

1 month ago
Diesel can be market-priced by September as crude goes under $100

New Delhi, Aug 19 (IANS) With international crude oil prices dropping below the $100 a barrel-mark last Friday, motorists can look forward to similar cuts in petrol rates like that around Rs.2 a litre granted on Independence Day. With Brent crude price falling to its lowest level since June 2013 at around $101 a barrel, oil marketing companies are expected to stop making losses after Se...

1 month ago
Diesel can be market-priced by September as crude goes under $100

New Delhi, Aug 19 (IANS) With the losses of state-run oil marketers on diesel sales below cost falling to under a rupee per litre, brokerage firm Goldman Sachs Tuesday estimated the monthly price hikes would end after September assuming that oil prices remain around the current $100 level. Estimating diesel under-recoveries, or losses, to fall to 30 paise a litre after the price hike in ...

1 month ago
Diesel can be market-priced by September as crude falls to $100

New Delhi, Aug 19 (IANS) With the losses of state-run oil marketers on diesel sales below cost falling to under a rupee per litre, brokerage firm Goldman Sachs Tuesday estimated the monthly price hikes would end after September assuming oil prices remain around the current $100 level. Estimating diesel under-recoveries, or losses, to fall to 30 paise a litre after the price hike on Sep...

1 month ago
OMCs stocks surge on higher price realisation

Mumbai, Aug 18 (IANS) Public sector oil marketing companies' (OMC) stocks surged Monday on the back of lower international crude oil rate and recent hike in diesel prices. At the Bombay Stock Exchange (BSE), the stock of the largest OMC was up 5.84 percent or 19.75 points around 2.50 p.m. at Rs.357.75 from its previous close of Rs.338. The scrip touched an intra-day high of Rs.35...

1 month ago
Kolkata's rogue taxis battle government's road-discipline move

Kolkata, Aug 17 (IANS) Beware of boarding a taxi in Kolkata. Chances are that you may be thrashed, pushed off or even molested by drivers demanding excess fare or unwilling to ferry you to your destination. And if the police crack the whip, the cabbies will call flash strikes or launch a violent agitation. Four times over the past 11 days, the taxi drivers have pulled their vehic...

1 month ago
Sonia, Kharge attack government over communal violence

New Delhi, Aug 13 (IANS) As parliament Wednesday debated the communal violence bill, the Congress launched an all-out attack on the Narendra Modi government, with party president Sonia Gandhi alleging an alarming increase in the number of incidents of communal violence since the BJP came to power. Mallikarjun Kharge, Congress party leader in the Lok Sabha, said more than 600 incidents of...

1 month ago
BJP showing pernicious signals of intolerance:Sonia

New Delhi, Aug 13 (IANS) Congress president Sonia Gandhi Wednesday asked party members to be wary of pernicious signals of intolerance and said there was a great deal of concern in the country, particularly among women and minorities, on whether BJP was seeking to profit from dividing the nation on sectarian lines. Addressing Congress members in the Central Hall in parliament, a combativ...

1 month ago
Petrol pumps in Maharashtra go on strike

Mumbai, Aug 11 (IANS) Around 4,100 retail petrol-diesel outlets in Maharashtra went on a day-long strike Monday to protest against multiple taxes in the state, an official said. However, around 500 petrol retail outlets in Mumbai have not joined the 12-hour strike which started at 6 a.m. Monday. The strike is total and we want to convey to the state government how the consumers a...

2 months ago
Cash transfers the way to fertilisers subsidy: Economic Survey

New Delhi, July 9 (IANS) Calling for a complete overhaul of the subsidy regime, Finance Minister Arun Jaitley Wednesday said direct cash transfers was the right way to subsidise soil nutrients and that fuel prices must be market-driven. In cases, such as the fertilizer subsidy, the expenditures generate a distorted resource allocation that hampers productivity, said a finance ministry offic...

2 months ago
Petrol price hiked by Rs.1.69 a litre, diesel by 50 paise

New Delhi, June 30 (IANS) State-run oil marketing companies (OMCs) Monday hiked the petrol price by Rs.1.69 a litre, excluding taxes, effective from midnight, owing to a rise in global oil prices and exchange rates. Diesel prices were also hiked by 50 paise per litre. Due to geo-political unrest in the Middle East, there has been significant increase in international oil prices duri...

2 months ago
BJP failing on checking price rise, protecting women: Congress

New Delhi, June 23 (IANS) The BJP has failed to check price rise or provide security to women despite tall promises made during elections, a Congres spokesperson claimed Monday. During the election campaign, the BJP sold dreams of 'acche din' by promising to curtail price rise... Indian voters gave them 10 seats more than the majority figure of 272 so that they do not give excuses of compul...

2 months ago
Bengal bus operators defer strike

Kolkata, June 22 (IANS) Bus operators in West Bengal Sunday deferred for a month the three-day strike they had called beginning June 25 to press for an increase in fares. The six private bus and minibus operators of the state, who had earlier this week announced the strike, decided to postpone the agitation till July 23 following a meeting with Transport Minister Madan Mitra during the day....

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