• 619 stories DIESEL PRICE

2 days ago
CPI-M opposes excise hike on fuel price

New Delhi, Nov 14 (IANS) The CPI-M Friday strongly opposed the government's decision to increase excise duty on petrol and diesel that has pushed up their price by Rs.1.50 a litre. Petrol and diesel are already heavily taxed, and this constitutes a major part of the retail price, the Communist Party of India-Marxist said. Therefore, there is no justification for this tax hike. Th...

9 days ago
Essar Oil's Q2 net profit at Rs.226 crore

Mumbai, Nov 7 (IANS) Refining major Essar Oil Friday reported its second quarter net profit at Rs.226 crore from a loss of Rs.71 crore incurred during the corresponding period of last year. However, the country's second largest private refiner's gross revenues was down 12 percent in the period under review at Rs.24,194 crore from Rs.27,392 crore. The company said that the dip in ...

11 days ago
Trinamool to raise diesel deregulation issue in parliament

Kolkata, Nov 5 (IANS) Coming down heavily on the BJP-led central government for deregulating diesel prices, West Bengal Chief Minister Mamata Banerjee Wednesday said Trinamool Congress MPs would oppose the decision in parliament. Accusing the Narendra Modi government of utilising all its energy to tomtom about its own performance in the social media, the Trinamool Congress chief said the...

12 days ago
More petrol diesel cuts likely as crude dips to $80 a barrel

New Delhi, Nov 4 (IANS) Following the recent multiple reductions in petrol rates and deregulation of diesel prices last month, fuel consumers can look forward to more price cuts as Brent crude oil Tuesday fell to its lowest in four years at $82 a barrel after Saudi Arabia cut sale prices to the US. The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC), w...

16 days ago
Increased tax refunds fuelling fiscal deficit: Jaitley

New Delhi, Oct 31 (IANS) The higher fiscal deficit in the current financial year, that has touched 83 percent of the full year's target, is the result of increased tax refunds, Finance Minister Arun Jaitley said Friday. Higher tax refunds are getting reflected in fiscal deficit number. This year there were pending tax refunds estimated around Rs.120,000 crore, he told reporters here.

16 days ago
Petrol, diesel rates cut by over Rs.2 per litre

New Delhi, Oct 31 (IANS) Petrol and diesel prices were cut Friday by over Rs.2 per litre each, effective minight, IndianOil Corp announced. While petrol will be cheaper by Rs.2.41 a litre in Delhi, diesel will cost Rs.2.25 less per litre. Prices of both fuels were also reduced earlier this month on the back of declining international oil prices. ...

26 days ago
Diesel deregulation to help OMCs: Fitch

New Delhi, Oct 21 (IANS) International ratings agency Fitch Tuesday said that deregulation of diesel prices will have a positive effect on the country's three oil marketing companies (OMCs) that are the principal retailers of petroleum products in India. The decision is also likely to lead to more private firms entering the diesel market in the medium term, resulting in greater competiti...

27 days ago
Samajwadi Party-Raj Bhawan face off intensifies in UP

Lucknow, Oct 20 (IANS) Apprehensions of a possible face-off between the ruling Samajwadi Party (SP) in Uttar Pradesh and the Raj Bhawan turned true Monday as a press conference by Governor Ram Naik drew a sharp response from the government. Naik, who completed 90 days as governor, had called the media for an interaction Monday and distributed a booklet titled 'Raj Bhawan Mein Ram Naik' e...

28 days ago
Falling oil prices may spur Modi for more reforms

One single international development that has not received the kind of play it deserves in the Indian media but is keenly watched in policy-making and strategic circles is the falling prices of oil - despite the geopolitical uncertainties in the Middle East and Nigeria - whose impact could be felt in government finances, business, trade and consumer spending, if the trend continues. The ...

28 days ago
Global factors determine diesel deregulation, gas price

New Delhi, Oct 19 (IANS) The Narendra Modi-led government's market pricing of diesel and revising the price for domestic natural gas have been determined by international factors that have also cushioned the impact of tough economic decisions. While diesel deregulation has come in the backdrop of international crude oil prices plunging towards $80 a barrel, the new formula used to revise...

29 days ago
India raises gas price to $5.61 per unit, deregulates diesel

New Delhi, Oct 18 (IANS) Taking major decisions impacting the hydrocarbons sector, India's federal cabinet Saturday made the long awaited revision in domestic natural gas prices, deregulated diesel and remodified the scheme to give direct cash to consumers on subsidy for cooking gas. The cabinet also approved other projects related to infrastructure, including a metro rail project in Ah...

29 days ago
Diesel prices deregulated, cheaper by Rs. 3.37 a litre

New Delhi, Oct 18 (IANS) The government Saturday deregulated diesel prices by linking the fuel cost to market-based pricing. The decision was taken by the union cabinet at a meeting held here. While announcing the decision on diesel price deregulation Finance Minister Arun Jaitley said: Price of diesel will be linked to the market, and therefore, depending on whatever is the cost...

29 days ago
Diesel prices deregulated, cheaper by Rs. 3.37 a litre

New Delhi, Oct 18 (IANS) The government Saturday deregulated diesel prices by linking the fuel cost to market-based pricing. The decision was taken by the union cabinet at a meeting held here. While announcing the decision on diesel price deregulation Finance Minister Arun Jaitley said: Price of diesel will be linked to the market, and therefore, depending on whatever is the cost...

29 days ago
Diesel prices deregulated

New Delhi, Oct 18 (IANS) The government Saturday deregulated diesel prices by linking the fuel cost to market-based pricing. The decision was taken by the Union cabinet in a meeting held here. While announcing the decision on diesel price deregulation Finance Minister Arun Jaitley said: Price of diesel will be linked to the market, and therefore, depending on whatever is the cost...

1 month ago
Government doubles profit on diesel sales as crude prices dip

New Delhi, Oct 16 (IANS) After years of incurring huge losses by selling diesel below cost, the government is finally making a profit on its sales at a rate that is doubling per fortnight even as international crude rates plunge. The over-recovery (or profit) on High Speed Diesel (HSD) applicable for the 2nd fortnight of October effective 16.10.2014 is now Rs.3.56 per litre. The over-rec...

1 month ago
Petrol cut by Re.1 a litre as crude prices dip

New Delhi, Oct 14 (IANS) Petrol rates were cut Tuesday, effective midnight, by Re.1 a litre, excluding local taxes, following a decrease in international oil prices. This reduction follows the one of 54 paise made on Oct 1. After accounting for local sales tax, petrol per litre will cost in Rs.66.65 in Delhi, Rs.74.46 in Mumbai, Rs.74.21 in Kolkata and Rs.69.59 in Chennai.

1 month ago
Indian basket's crude price drops under $90/barrel

New Delhi, Oct 13 (IANS) The international crude oil price of the Indian basket continued falling and went below $90 a barrel on the last trading day Friday, the petroleum ministry said here. The price of the Indian basket was $88.23 per barrel on 10.10.2014. This was lower than the price of $90.50 per barrel on the previous day, the ministry said in a release Monday. Global ben...

1 month ago
Reduce diesel price, says CPI-M

New Delhi, Oct 6 (IANS) The CPI-M Monday criticized the government and the Oil Marketing Companies (OMCs) for not reducing the price of diesel despite a fall in crude oil prices globally. The price of Brent crude, the global oil price benchmark, had fallen below $92 a barrel, the Communist Party of India-Marxist said. It is reported that the OMCs are earning Rs.1.90 on every lit...

1 month ago
Diesel in over-recovery; retail prices exceed global rates

New Delhi, Oct 1 (IANS) With the rates of the Indian basket of crude oil falling below $95 a barrel, the petroleum ministry Wednesday said losses on diesel sales had been wiped out with the government now looking at a profit of nearly two rupees a litre on the fuel sales. The over-recovery on High Speed Diesel (HSD) applicable for the first fortnight of October effective 01.10.2014 is no...

2 months 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 ...

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