Finance ministry not inclined to forego more revenue. The oil ministry has asked for a tax cut of .

New Delhi Consumers could prepare for shortages in auto and cooking fuel supplies. Oil retailers IOC, HPCL and BPCL have informed the government that if their losses from selling fuel below cost are not adequately compensated, “it may adversely impact the supply-demand balance of petroleum products,” Minister of state for petroleum and natural gas R.P.N. Singh told Rajya Sabha on Tuesday.

The government on Tuesday stated that it has agreed in principle to deregulate diesel prices. Minister of state for finance Namo Narain Meena, in a written reply to the Rajya Sabha, said on Tuesday that the government is, however, not considering a similar proposal for cooking gas.

The minister said the “government has, in principle, agreed to make the prices of diesel market-determined”. Though petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel. The minister, however, added that the government continues to fix the price of diesel in order to shield the common man from the impact of rising crude oil prices and the resulting inflation.

New Delhi The government today said it has agreed in-principle to the deregulation of diesel prices, but is not considering similar proposal for the cooking gas.

"Government has, in principle, agreed to make the prices of diesel market determined," Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.

New Delhi: Taking a cue from the RBI governor D Subbarao, market leader IndianOil Corporation indulged in grandstanding on Tuesday by saying state-run retailers would raise petrol price by almost R

‘Or cut excise duty and compensate our loss'

Fed up with the Centre's “indecision” on allowing an increase in fuel prices in the face of rising international crude prices, the oil marketing companies (OMCs) on Tuesday virtually threatened to increase petrol prices by Rs. 8.04 a litre. They said the government should either cut the excise duty on petrol and give them Rs. 49 crore a day in compensation or face a sharp price hike.

A Brazilian judge denied an injunction seeking to bar oil company Chevron Corp and drill-rig operator Transocean Ltd from operating in Brazil after two offshore oil leaks, a federal court in Rio de

Says the price fixation is in the legislative domain as It requires some expertise. The Supreme Court has rejected a petition to fix the price of petroleum products.

The Tiruchi District Consumer Movement urged the Centre to allot the entire quantum of power generated in the Kudankulam Nuclear Power Project (KKNPP) to the State considering the abysmal power scenario in the State.

A resolution to this effect was adopted at a meeting to celebrate the International Women's Day, Consumer Day and the memorial day of Muthuvelan, founder of the Movement, held here recently. J.Selvaraj, president, presided over the meet.

New Delhi In what could give a reprieve to consumers who have been fearing another hike in petrol price, the government has decided to put the proposal in abeyance.