Chief Minister H D Kumaraswamy, who recently hinted at his government’s intentions to slash taxes on fuel, is said to have directed the finance department to take necessary steps to reduce duty on petrol and diesel by at least Rs 2 to Rs 2.50 per litre.
The Organisation of the Petroleum Exporting Countries (OPEC) has “not much credit” left as some members are turning it into “a tool for the US”, a senior Iranian official said in comments published on Saturday.
Increase in sales tax on petrol and diesel will not burden the common man, former chief minister and Congress Legislature Party leader Siddaramaiah said on Thursday.
Four people of a family were injured in a suspected LPG cylinder blast in their house in Hussaini Garden, in the MSK Mill area of Kalaburagi city, on Tuesday.
The board of state-owned Oil and Natural Gas Corp (ONGC) has given in-principle approval for exploring options for a restructuring of the group firms including the merger of subsidiaries MRPL and HPCL.
The Union Cabinet Wednesday gave an in-principle approval for building two strategic crude oil reserves including one at Padur (Udupi district) in Karnataka with 2.5-million tonne capacity. The move will insulate India from spike in global prices of crude oil, Finance Minister Piyush Goyal said.
Under attack on steeply rising petrol and diesel prices, the government is expected to discuss the feasibility of bringing the two fuels under the Goods and Services Tax ambit. The issue may be considered in the council’s next meeting, the date of which is yet to be decided.
After a 19-day pre-Karnataka poll hiatus, petrol price was on Monday hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers.
The Shiv Sena has come in direct confrontation with the BJP, its alliance partner at the Centre and in Maharashtra, over the Nanar refinery project.
Saudi Aramco, the world’s largest oil producer, will buy 50 per cent stake in the mega USD 44-billion oil refinery in Maharashtra.