Experts argue that the multiplicity of price points in the natural gas and petroleum sector in the country discouraged private investment.Multiplicity of price points has created market distortions in sectors such as city gas distribution, as it led to considerable differences in prices for end-consumers. There are multiple price points, depending on the source and
Tag: under recovery
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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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Section of Congress seek hike in LPG cap
Media reports indicate that some section of the ruling Congress party want the government to raise the cap on the number of subsidised cooking gas per household per year. Recently, the government decided to limit the number of subsidised cooking gas per household per year to six and this has reportedly increased hardships for common man
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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