Oil Minister Veerappa Moily informed reporters that his ministry was yet to process and finalise its view on a proposal to raise fuel prices, on the lines of the recommendation of Kelkar committee. Raising diesel prices is essential in order to reduce the under-recovery of the three public sector oil mark
Tag: kerosene
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Proposal to hike diesel prices awaits ministry nod
Oil Minister Veerappa Moily informed reporters that his ministry was yet to process and finalise its view on a proposal to raise fuel prices, on the lines of the recommendation of Kelkar committee. Raising diesel prices is essential in order to reduce the under-recovery of the three public sector oil mark
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Rupee exchange rate holds key for petrol pricing
According to analysts, the movement of rupee against the dollar holds key for the future price movement of petrol in the domestic market. Recently, the price of petrol was reduced by oil marketing companies (OMCs) for the second time since 9 October 2012 because of the decline in crude oil prices in the international market
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IOC posts Rs 96 bn net profit
Following the reimbursement of oil subsidy by the union government, public sector refiner Indian Oil Corp (IOC) posted a net profit of Rs 9,611 crore in the quart
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OMCs set to announce losses in Sept quarter
Delay in the receipt of compensation from the government may cause the oil marketing companies (OMCs) to post losses during the September 2012 quart
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OMCs’ under-recovery for diesel stands at Rs 9.84
For the first fortnight of November effective November 1, the under-recovery incurred by oil marketing companies (OMCs) on sale of diesel remains at a high level of Rs