Decontrol petrol and diesel prices, says Economic Survey

July 9th, 2009 NEW DELHI - Union Minister of Petroleum and Natural Gas Murli Deora on Thursday said that government will roll back the price hike of Rs 4 and Rs 2 a-litre on petrol and diesel respectively, if international crude oil prices stabilise between 50 to 60 dollars a barrel. "Yes, we will cut prices if crude prices stabilise for sometime between 50 and 60 dollars per barrel," Murli Deora said.

July 6th, 2009 NEW DELHI - The government will set up another expert group on oil pricing, barely a year after the B.K. Chaturvedi committee had submitted its report that linked domestic prices of petroleum products to international rates.

July 5th, 2009 CHENNAI - Union Petroleum Minister Murli Deora has said the government would consider a downward revision of fuel prices if international crude prices came down. "I have already explained you how we have increased the prices and what made us to increase the prices.

July 2nd, 2009 NEW DELHI - India's Economic Survey tabled in parliament Thursday called for decontrolling petrol and diesel prices "at the earliest" and reforming subsidies to cooking gas and kerosene. The survey said the subsidies regime, including that of liquefied petroleum gas (LPG) and kerosene, had to be reformed so that "all the needy get the intended benefit".

July 2nd, 2009 NEW DELHI - Petrol and diesel prices rise by as much as 10 percent in India, on Wednesday, the first increase this year and one of the steepest ever. Petrol prices rose by four rupees a litre, while diesel rates were hiked by two rupees a litre.

July 2nd, 2009 BANGALORE - The residents of Bangalore have expressed widespread resentment over the fuel price hike announced Wednesday which, they feel, would result in increase in prices of other essential products and services. After the hike of petrol prices by Rs.4 per litre and diesel prices by Rs.2 per litre, Bangaloreans now have to shell out Rs.50.66 per litre for petrol and Rs.37.01 per litre for diesel.

July 1st, 2009 NEW DELHI - The Centre on Wednesday announced a rise in the price of petrol and diesel by Rs. 4 and Rs.2 per litre, respectively.

June 22nd, 2009 NEW DELHI - Unstable international oil rates may force the Government of India to increase petrol price by Rs 2 a litre and diesel by Re 1 per litre, unless excise duty on both the fuels is cut to neutralise the increase. According to reports, state fuel retailers- Indian Oil, Hindustan Petroleum and Bharat Petroleum- incur a loss of Rs 135 crore per day on sale of petrol, diesel, LPG and kerosene.

June 16th, 2009 New Delhi, June 15(ANI): Union Petroleum Minister Murli Deora has expressed his concern over the rise in international crude oil prices and said that the government is looking at solutions to tackle the widening revenue deficit, hinting at a rise in petrol and diesel prices. "We are seriously concerned about the rise in crude oil prices.

May 29th, 2009 NEW DELHI - Petroleum and Natural Gas Minister Murli Deora on Friday said he would seek Cabinet approval for oil price deregulation in six weeks. "Decision regarding decontrol of prices is to be taken by the Cabinet," Deora told reporters in response to a question.

January 28th, 2009 NEW DELHI - Indians woke up to some pleasant news Thursday with the prices of fuel being cut further as the government allowed its state-run petroleum retail companies to cut the prices of petrol, diesel and cooking gas late Wednesday night. Petrol will now be cheaper by Rs.5 a litre, diesel by Rs.

January 27th, 2009 NEW DELHI - The government late wednesday decided to further reduce prices of transport fuels and cooking gas. 'It has been decided to reduce the price of petrol by Rs.5 a litre, of diesel by Rs.2 a litre and LPG (liquefied petroleum gas) by Rs.25 per cylinder,' External Affairs Minister Pranab Mukherjee told reporters after a meeting of the Cabinet Committee of Political Affairs (CCPA).

January 11th, 2009 NEW DELHI - Petrol, diesel and cooking gas prices will be cut to the 'maximum possible' extent soon, Minister of State for Petroleum and Natural Gas Dinsha Patel said here Monday. 'We will ensure that the reduction in prices is maximum and is implemented as soon as possible,' Patel said on the sidelines of the Petrotech India conference.

January 9th, 2009 MUMBAI - Petrol, diesel and cooking gas prices may be cut further to bring them in line with international rates, Petroleum Minister Murli Deora said here Saturday. The government might reduce petrol prices by Rs.5 per litre, diesel prices by Rs.3 per litre, cooking gas (LPG) prices may be cut by Rs.20-25 per cylinder.

January 8th, 2009 KOLKATA - The West Bengal government may start rationing petrol and diesel, a senior official said here Friday on day-three of the crippling oil sector officers' strike. 'We might consider rationing of petrol and diesel in the state if this panic situation prevails, people are procuring petrol or diesel more than actually required,' Chief Secretary Ashok Mohan Chakraborty told reporters.