Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Diesel, LPG price hike likely today
Diesel Prices: Prices of diesel, LPG and kerosene may be raised from Tuesday when the Cabinet Committee on Political Affairs (CCPA) meets. Though the listed agenda for the CCPA meeting is to discuss the
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Plan panel suggests steps to boost ailing power projects
To provide relief to the power sector, which is reeling under a fuel crisis, the Planning Commission has circulated a paper on public-private partnership in electricity generation. In the paper, the commission pointed to the problems faced by power producers using domestic, as well as imported fuel. It has suggested bidding be carried out at capacity charge, while the variable charge (which comprises fuel charges) would be passed on to consumers. Capacity charge is the billed amount that covers the difference between the power a customer expects to be available and the power the customer actually uses.
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Jaipal Reddy rules out immediate petrol price hike
The Minister of Petroleum & Natural Gas, S. Jaipal Reddy, has ruled out an immediate hike in fuel prices now. An official statement issued here said that the Minister said this at the sidelines of a function.
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Petrol may cost R5 more/litre
New Delhi Consumers may have to brace for steep hikes in the prices of petroleum products such as diesel, kerosene, cooking gas and petrol after Parliament’s monsoon session ends on September 7. Sources
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Cabinet panel to discuss hike in diesel, LPG, kerosene prices
In a step that is likely to hit consumers further, the Petroleum and Natural Gas Ministry has moved the Cabinet for a hike in prices of diesel, LPG cylinders and kerosene. The Cabinet will also discuss putting a cap on number of subsidised cylinders for each household up to a certain income limit. In addition, elected members, including Ministers, MPs, MLAs, MLCs and councillors, are likely to face discontinuation of subsidised LPG cylinders. The Ministry may impress upon the Cabinet to take a call on imposition of a higher duty on diesel vehicles in view of the massive jump in consumption of the fuel in the recent past. In July, diesel sales jumped by 12 per cent, sending the alarm bells ringing.
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Petrol may cost Rs 5 more/litre
Consumers may have to brace for steep hikes in the prices of petroleum products such as diesel, kerosene, cooking gas and petrol after Parliament’s monsoon session ends on September 7. Sources said that
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Raise LPG price by R50, diesel by R4, says Kelkar
New Delhi The Vijay Kelkar committee has outlined a programme for the Centre to keep its budget deficit in check for the next three years, leaving the 14th Finance Commission (2015-2020) to decide on the action required in subsequent years. The committee set up by the finance minister P Chidambaram for drawing a new fiscal consolidation road map, has proposed calibrated hikes in diesel and LPG prices, proactive disinvestment and measures to increase revenue buoyancy.
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Petrol subsidy burden bleeds upstream oil companies dry
New Delhi Rising global crude oil prices over the last four years have inflated India’s subsidy bill, but the burden on the exchequer could have been higher hadn't the fiscally-conscious government reduced its share of the onus, at the cost of upstream oil companies. According to official data, between 2008-09 and 2011-12, the Centre reduced its direct funding of oil marketing companies’ losses — from 69.02% of the total estimated under-recoveries to 46.24%. Consequently, upstream firms such as ONGC, OIL and GAIL funded 38% of the under-recoveries in 2011-12, as against 30.98% in 2008-09.
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CIL board clears new fuel supply pact with riders
Kolkata The Coal India (CIL) board on Friday cleared the new model fuel supply agreement (FSA), specifying some conditions. After an eight-hour board meeting, CIL chairman S Narsing Rao told reporters
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Driving The Wrong Way
If the government can’t raise diesel prices, it should at least stop subsidising diesel cars The public sector oil marketing companies are bleeding due to large under-recoveries on account of diesel.