Petrol and diesel prices across the country will increase by 9-13 paise a litre with effect from Tuesday midnight, after the government decided to increase the commission to petrol pump dealers. In Delhi, the price of petrol will go up by 13 paise to Rs 51.56 a litre, while diesel will be 9 paise costlier to Rs 37.71 per litre.

THE Organization of the Petroleum Exporting Countries (Opec) claims on its website that it sold crude oil (2004-08) worth $3,346 billion to G-7 countries, but G-7 countries got $3,418 billion by way of taxes on the price. Opec says the real villains are the governments that use petrol as a means of taxation.

Sanjay Jog / Mumbai August 18, 2010, 0:49 IST

Ethanol manufacturers and sugar mills yesterday welcomed the Union cabinet

Ahmedabad: Central indirect taxes on petroleum products will remain unchanged in near future, said Union minister of state for petroleum and natural gas, Jitin Prasad while replying to a question raised by Rajya Sabha MP Parimal Nathwani.
Prasad, while answering questions related to high price of petroleum products due to high rates of taxes levied by central as well as state governments, sta

Sanjay Jog / Mumbai August 2, 2010, 0:32 IST

Oil marketing companies (OMCs) will float tenders for ethanol procurement at Rs 27 per litre for a mandatory five per cent blending with petrol, once the Centre issues a notification in this regard.

New Delhi: State-run firms will change pump price of petrol after a 30-day period, in line with global trend of crude and products, even as the oil ministry is informally pressing them for a token reduction of 20 paise or so around the Zero Date of July 25-26 when the price review begins under the decontrolled regime, sources said.

Government-controlled oil marketing companies (OMCs) today decided to review retail prices of petrol on a monthly basis. However, the date for the next price review and the mechanism to fix the price are yet to be finalised.

DIESEL price decontrol may only be partial, unlike in the case of free pricing of petrol, as the government may continue to provide a fixed subsidy of Rs 1.49 per litre irrespective of the rise or fall in its market-linked retail price.

OIL SECTOR REFORM WITHOUT FREEING UP OF DIESEL & LPG IS A KILLER
M C GOVARDHANA RANGAN