Reeling under the double whammy of high inflation and rising subsidy burden, the Centre may settle for a bare minimum hike in auto and cooking fuel prices

AN INCREASE in the prices of petrol and diesel appears imminent as top Congress leaders prepare on Wednesday to ponder the Kirit Parikh panel report that has recommended radical overhaul of the fuel pricing system in the country.

A recent news story on the just-released Kirit Parikh committee report on pricing of petroleum products had a headline suggesting that

THE Trinamool Congress and DMK on Thursday opposed Prime Minister Manmohan Singh

Proposal will bring down the burden of oil companies

APANEL headed by Kirit Parikh has suggested a clean break from the past, with market-linked prices for auto fuels and a sharp increase in the prices of kerosene and cooking gas, testing the willingness of the Manmohan Singh government to grapple with a problem that has defied a solution for decades.

Petrol Price May Go Up By Rs 4.7, Diesel By Rs 2.3 Within Weeks
Our Bureau NEW DELHI

THE government may take a decision on freeing petrol and diesel prices after the Kirit Parikh committee on rationalising fuel subsidies submits its report this week, oil minister Murli Deora said.

State-run oil marketing companies (OMCs) will be able to taper their third quarter losses after the government has committed itself to a Rs 12,000-crore cash subsidy to compensate them for selling cooking fuels at government-regulated prices.

Ajay Modi & Jyoti Mukul / New Delhi January 16, 2010, 0:32 IST

Oil and Natural Gas Corporation (ONGC) is in favour of full market price parity for retail sales of petrol and partial burden sharing by consumers of diesel, LPG and kerosene. The company has also suggested a formula for sharing the burden of an increase in crude oil prices beyond $60 a barrel.