Petrol prices were raised for the second day in a row on Friday. After a hike of around 14 paise, petrol is now being sold at Rs 75.85 per litre in Delhi.
Fitch Ratings on Friday said continued rise in fuel prices could impact commercial vehicle operators in the country, leading to auto loan defaults.
GST Council Member and Bihar Deputy Chief Minister Sushil Modi on Friday outright ruled out bringing petroleum products under the ambit of Goods and Services Tax (GST) in near future, citing loss of revenue both to central and state governments.
The government today ruled out any immediate reduction in excise duty to cushion relentless rise in international oil prices that have sent retail diesel rates in India to record high and petrol to four-year high.
Legal Metrology Department today fined two LPG distributors for overcharging on the refill cooking gas cylinders.
Already facing delay for various reasons, the ambitious Bathinda-Jammu-Srinagar Gas Pipeline Project is unlikely to become a reality in at least next three years, sources said on Monday.
Minister for Consumer Affairs & Public Distribution, Chowdhary Zulfkar Ali today surrendered his gas subsidy. He announced this at a function organized by Hindustan Petroleum Corporation Limited to felicitate the consumers who had given up their gas subsidies.
Jammu and Kashmir’s business community has demanded immediate rollback of increase in taxes of petrol and diesel recently imposed by state government, terming the hike as “undue and irrational”.
Despite Union Oil ministry directives to all oil marketing companies to go for automation of retail outlets, the orders are yet to be fully implemented in Kashmir where a large number of incidents of short measure and adulteration in petrol have been reported.
In Kashmir around 1400 LPG consumers have given up subsidy being provided by centre government on cooking gas.