Restricting the supply of subsidised cooking fuel may no longer be a politically difficult task, with a Parliamentary panel asking the government to do away with the sale of subsidised domestic LPG to people with more than Rs 6 lakh annual income. If the recommendation goes through, those with income over the specified level will have to pay Rs 642.35 for a 14.2-kg cylinder, as against the current price of Rs 395.35 (in Delhi).

Iran has threatened to block supplies of oil to India because of $5bn in unpaid fees that are blocked due to international sanctions against Iran.

Indian refiners have started looking for oil sources in different markets as Iran says it will block supplies for the month of August, people familiar to the matter in New Delhi told the Financial Times.

After a steep hike of Rs 50 on the prices of each cooking gas cylinder last month, another increase of Rs 4 has been done earlier this month owing to an increase in a dealer

The government is planning to cap sale of subsidised cooking gas (liquefied petroleum gas) cylinders to each household in a phased manner, while putting in a mechanism for direct transfer of subsidy to the intended beneficiaries.

New Delhi Despite a wider excise duty difference between petrol and diesel, the group of ministers on fuel pricing led by finance minister Pranab Mukherjee has ruled out imposing any additional excise duty on diesel cars, which was proposed last year in a report by former Planning Commission member Kirit Parikh that formed the basis for sweeping oil price revisions last year.

After the governme

In a bid to bring some respite to the bleeding oil marketing companies (OMCs), the empowered group of ministers (EGoM) headed by Finance Minister Pranab Mukherjee will meet today to review the diesel and domestic LPG prices.

The meet could lead to a diesel price hike which was last revised a year ago while the oil ministry has also made case for increase in domestic LPG price.

Ahmedabad:Around one lakh litres of diesel spilled off Mundra coast in Kutch district of Gujarat from the oil jetty of a private port on Tuesday, when a consignment of Hindustan Petroleum Corporation Limited (HPCL) was being off-loaded from a ship.

New Delhi The Supreme Court on Thursday issued notices to the Petroleum and Natural Gas Regulatory Board (PNGRB) and Gujarat State Petronet (GSPL) on a petition filed by public sector gas utility GAIL against the former

Petroleum minister S Jaipal Reddy has sought an immediate rise in the prices of diesel, kerosene and domestic liquefied petroleum gas (LPG). The empowered group of ministers on fuel pricing was likely to meet soon, he said today.

The finance minister Pranab Mukherjee-headed group was first supposed to meet on May 11, immediately after the end of West Bengal Assembly elections.

Tomorrow