No fuel price cut on cards in India
The government said on Thursday it is not considering any cut in fuel prices at the moment as oil companies continue to make losses on sales of diesel, kerosene and domestic LPG.
"I am not aware of cuts in fuel prices...At present, the reduction is not under active consideration," petroleum secretary R S Pandey said.
Pandey said margins on sale of petrol have turned positive, but there were under-recoveries on sales of diesel, domestic LPG and kerosene.
Besides, the rupee-dollar parity and international oil prices were fluctuating on a day-to-day basis.
State-run Indian Oil, Hindustan Petroleum and Bharat Petroleum are projected to lose Rs 1,28,135 crore (Rs 1,281.35 billion) on fuel sales this fiscal.
IOC, BPCL and HPCL lost Rs 92,853 crore (Rs 928.53 billion) on fuel sales (audited figures) in April-September and are projected to lose Rs 35,282 crore (Rs 352.82 billion) in the second half of 2008-09 fiscal.
For the first time in more than 12 months, oil companies have started making profit on sale of petrol, but they continue to lose Rs 155 crore (Rs 1.55 billion) per day on diesel, LPG and kerosene sales.
Source: Rediff
-
- Share:
-
-
-
-
-
-
Reach -
Credibility
-
Related Allvoices Contributions
-
Marginal hike in petrol, diesel prices
By: lion2009
Petrol will be costlier by seven paise per litre and diesel by four paise as the oil ministry has raised dealer margins on these motor fuels. The new rates came into effect from midnight Monday, Federation of All India Petroleum Traders chief Ajay Bansal said.
about 1 month ago
-
Petrol price down Rs5, diesel up Rs3.50
By: owa15
The government of Pakistan has revised petroleum prices whereby petrol price has been slashed by Rs5 per litre while rates of High Speed Diesel and koresene oil have been raised by Rs3.5 per litre.The new petroleum prices will remain effective for next 15 days. According to sources, the government is still giving a subsidy of Rs. 10 per litre on ...
about 1 month ago
-
Gas Prices in India: A comparative Analysis
By: ranjitsinha
Where Does the KG D6 Gas Price of $4.2 per MMBTU Stand in the market? Controversies have surrounded KG D-6 gas, but RIL downplayed all: Reliance Industries operated KG-DWN-98/3 gas field, also known as KG D6 has run into controversies immediately after the major gas find in 2002. Whether it is the quantum of the discovery, ...
3 days ago
- News Source: Time of India | about 1 year agoThe special bonds are being issued to three oil marketing companies as compensation towards estimated under-recoveries on account of sale of sensitive petroleum products during the current financial year," the finance ministry said...The three oil...
- News Source: GMA News | about 1 year agoDespite the so-called "substantial" rollbacks announced by oil firms in past weeks, fuel products remain "hugely overpriced," militant umbrella group said Friday. In a press statement on its website, Bagong Alyansang Makabayan (Bayan) said diesel...
- News Source: The Economic Times | about 1 year agoGovernment is not considering a cut in retail prices of petrol and diesel as state-run firms are still incurring revenue losses by selling at government-fixed prices, Oil Secretary R S Pandey told reporters on Thursday. "There is nothing under active...
- News Source: Channel NewsAsia | about 1 year agoIndonesia will cut retail prices of premium gasoline by more than six percent from December 1 to ease inflation and spur economic growth, the finance minister said Thursday. "A catalyst for the price cut is the growing concern over global economic...
- News Source: India Abroad | about 1 year agoThe government said on Thursday it is not considering any cut in fuel prices at the moment as oil companies continue to make losses on sales of diesel, kerosene and domestic LPG. "I am not aware of cuts in fuel prices...At present, the reduction is...
- News Source: Androscoggin News | about 1 year agoWe hope (the fuel price cut) will stimulate consumption and household purchasing power because the largest proportion of fuel users are households," Mulyani said. "We hope (this will help) the economy in the fourth quarter reach close to 6%" growth.
- Blog Source: spoonfeedin.blogspot.com“IOC continues to lose Rs. 85 crore per day on sale of diesel, kerosene and LPG. We will make about Rs. 6 crore on petrol but overall our losses on fuel sales stand at Rs. 79 crore per day,” he added. Mr. Behuria said there was no case ...
- Blog Source: freemanstrikes.blogspot.comIndian Oil Corp, the nation's biggest oil firm, today reported a net loss of Rs 7047.13 crore for the second quarter ended September 30, 2008, mainly on account of huge revenue loss on sale of petrol, diesel, LPG and kerosene. ...
- Blog Source: silverscorpio.comMr Behuria stated, “Based on average oil price of second fortnight of October, we expect to make Rs 4.12 a litre margin……..IOC will now continue to lose Rs 85 crore daily on sale of diesel, kerosene and LPG.”
- Blog Source: troubledgalaxydetroyeddreams.blogspot.comObama's focus on hope, or simply relieved that - whoever wins - the current administration is coming to an end. From Berlin's Brandenburg Gate to the small town of Obama, Japan, the world gears up to celebrate a fresh start for America. ...
- Blog Source: www.livemint.comBut they are losing Rs0.96 a litre on diesel, Rs22.40 per litre on kerosene and Rs343.49 per LPG cylinder. But the companies say retail fuel prices should not be cut till losses on diesel are wiped out and those on LPG and kerosene ...
- Blog Source: ranabhola.blogspot.comAddressing the CA, Ban said it’s for Nepalis and Nepal government to implement the peace process. He asked political parties to work for the future of the Maoist army and constitution draft. He said he Maoist combatants should be ...
-
Image Source: www.breakingnewsonl...Petroleum Minister Murli Deora ...Image Source: www.breakingnewsonl...Petroleum Minister Murli Deora ... -
Image Source: www.newszoom.comIran leans to oil output cut ...Image Source: www.newszoom.comIran leans to oil output cut as OPEC ... -
Image Source: video.aol.com -
Image Source: www.bhutanobserver.btThe continuing hike in LPG ...Image Source: www.bhutanobserver.btThe continuing hike in LPG price has ... -
Image Source: www.tribuneindia.comKerosene, LPG prices likely to ...Image Source: www.tribuneindia.comKerosene, LPG prices likely to go up -
Image Source: www.petrowatch.com... LPG, petrol, kerosene, jet ...Image Source: www.petrowatch.com... LPG, petrol, kerosene, jet fuel, ...
- Video Source: youtube.comwhen fuel prices go highVideo Source: youtube.com
- Video Source: youtube.comChina Raises Gas PricesVideo Source: youtube.comauthorities unexpectedly raised retail gasoline and diesel prices by up to ...
- Video Source: www.truveo.comPrice hikes fuel protestVideo Source: www.truveo.comProtesters hit the streets in India to protest a hike in fuel prices. CNN's ...
- Video Source: youtube.comGas Prices Down NationwideVideo Source: youtube.comThe average price of regular gas has dropped 35 cents over the past two ...
- Video Source: www.truveo.comIndia fuel protestVideo Source: www.truveo.comAngry residents protesting high fuel prices vandalize vehicles in the ...
- Video Source: youtube.comMotorists queue ahead of China ...Video Source: youtube.comBeijing hiked the cost of fuel by 18-percent. As a result -on the other ...
Cell phones use report code: Related Allvoices Reports
Site Links
Site Topics
Contributions
- Report Your News
- Add your voice and contribute via your cellphone - check out how to Report News via Your Cellphone
- Blog Widget
- Widget for Blog Owner
