In 2022-23, India’s LPG consumption was 28.5 million tons (MT) and production was 12.8 MT. At over 41.1 percent, LPG imports accounted for the largest share of petroleum product imports in 2022-23. Domestic LPG consumption accounted for over 89 percent of total consumption. The adoption of LPG by low-income households …
With an eye on bigger imports, the oil marketing firm may get its French partner Total to set it up State-run oil marketing firm Hindustan Petroleum Corp Ltd (HPCL) is planning to invest Rs 600-700 crore to set up its second underground liquefied petroleum gas (LPG) storage facility in Mangalore. …
The government’s decision to cap the number of subsidised LPG (liquefied natural gas) cylinders seems to have brought cheer to oil companies as their auto gas segment has registered significant growth since last September. IndianOil Corp Ltd, for instance, saw a growth of around 22 per cent in volumes and …
Ever since the ban on Iranian oil imports by European Union nations came into effect in February 2012, Indians oil companies have gradually reduced their dependence on oil from the West Asian country and put in place alternative arrangements. India aims to cut Iranian oil imports by around 15% every …
The Delhi Cabinet on Monday decided to increase the number of subsidised LPG cylinders for the beneficiaries of the kerosene-free scheme from nine to twelve in a financial year. At the meeting chaired by Chief Minister Sheila Dikshit, it was stated that since the Centre has decided to increase the …
New Delhi: Free-market diesel price in 24 mths; only LPG, kerosene to get subsidy The UPA government is going the whole hog on its plan to move towards fully market-determined pricing of diesel, which accounts for 60% of this year’s estimated fuel subsidy bill of R1.7 lakh crore. “In 24 …
A hike of nearly Rs. 10 a litre for the bulk diesel consumers that includes the railways, transport undertakings and the defence, cement, mines and power sectors will trigger an all-round hike in public road transport costs, rail fares, costs of cement and other infrastructure related activity across the country. …
Leaders of trade unions affiliated to Left parties on Thursday severely criticised the Centre’s decision to allow oil marketing companies to increase the price of diesel and said the move will “aggressively stimulate inflation”. “There will be dangerous implications of the Centre’s decision to decontrol the prices of diesel. It …
Even as the Union Cabinet gave its nod on Thursday to raise the cap on supply of subsidised LPG cylinders to nine cylinders from six per year per household, the oil marketing companies (OMCs) were gearing up to marginally raise the diesel prices, which could happen by Thursday itself. The …
Govt has permitted oil companies to increase diesel price by 45 paise a month Bulk consumers will have to pay market price, to be revised every fortnight; Consumers would get nine subsidised cooking gas cylinders a year, instead of six at present Unwilling to announce a hike in diesel price, …
The cabinet meeting on Thursday is set to consider the petroleum ministry’s proposals to increase diesel, cooking gas and kerosene prices, a move the government aims to partly offset by raising the ceiling on the number of subsidized LPG cylinders. If approved, the new prices will take effect from midnight …
In a bid to neutralise political opposition to planned fuel price hikes, the government is considering a two-step process: First, allow up to 12 subsidised domestic gas cylinders per year from the currently proposed nine and later, raise prices of LPG and diesel in a phased manner. Sources told FE …
Delhi set to become first kerosene-free state With the distribution of filled liquefied petroleum gas (LPG) cylinders in the Rajinder Nagar assembly constituency, the government has begun the process of making Delhi a kerosene-free state. The constituency is represented by the Transport Minister, Ramakant Goswami. A few years ago, the …
The oil ministry has proposed a hike of R3-4.50 per litre in diesel price and R100 per cylinder in LPG rates, along with raising the number of subsidised cooking gas cylinders for households to nine a year from the current cap of six. The ministry has moved a note for …
Pressing ahead with the Kelkar Committee recommendations and grappling with massive under-recoveries, the Petroleum and Natural Gas Ministry has initiated a Cabinet note to raise the cap on subsidised LPG supply from six to nine cylinders a household a year, and increase diesel, LPG and kerosene prices in phases. As …
The Indian Oil Corporation’s R910-crore LPG pipeline project has hit a 20-acre sticky patch in Haldia. The land is crucial since the oil major has planned a pumping station on it which would enable gas flow through a 300-km-long pipeline from Haldia to Durgapur and right up to Kalyani. An …
The Central Government should act quickly to raise diesel rates to bring them in line with global prices in order to reduce its subsidy bill, Prime Minister’s Economic Advisory Council Chairman C. Ranagarajan has said. “I think we need to cut subsidies’ proportion of GDP... Therefore, there is an imperative …
Analysts say any increase in diesel and kerosene prices will be positive for market sentiment. The petroleum ministry is considering a proposal to gradually hike diesel prices by Rs 1 per litre every month for the next 10-15 months to deregulate retail prices eventually, based on the recommendations of the …
Finmin aims to make substantial savings in oil subsidy payouts Alarmed by the R1.7-lakh-crore oil subsidy demand for this fiscal, the finance ministry has decided to revisit a suggestion made by expert committees in the past: Work out the subsidy entitlement of oil marketing companies (OMCs) according to 100% export-parity …
In our article “Subsidies for Whom? The Case of LPG in India” (EPW, 3 November 2012), we demonstrated convincingly that the distribution of liquefied petroleum gas (LPG) uptake in India is heavily skewed in favour of the urban affluent and argued that the state policy of capping the subsidies to …
Diesel, kerosene and cooking gas prices could be raised soon while the government might separately take up a proposal to raise the cap on supply of subsidised LPG cylinders. The government may take a look at raising the cap on supply of subsidised LPG cylinders to 9 per household in …
