Crude surge fuels bailout move
R. SURYAMURTHY
Deora: Action time
New Delhi, Nov.1: As global crude prices simmered near the $100-per-barrel-mark, petroleum minister Murli Deora today held separate meetings with Prime Minister Manmohan Singh and finance minister P. Chidambaram over a fresh bailout package for oil marketing PSUs.
In the meetings, Deora sought equitable sharing of the crude burden among the government, the oil marketing companies and consumers.
In tandem with the global price, the Indian basket of crude has shot up to $84.31 per barrel. The Indian crude is a mix of Dubai and Brent crude in the ratio of 61:39.
Showing posts with label fuel. Show all posts
Showing posts with label fuel. Show all posts
Mar 22, 2008
Crude
Modi, Goldman give oil panel a headache
R. SURYAMURTHY
Mukherjee: Balancing act
New Delhi, Dec. 25: The discussions at next week’s meeting of the group of ministers on fuel prices will be in the backdrop of Gujarat poll results and a Goldman Sachs projection of a surge in the global price of crude.
The victory of BJP’s Narendra Modi in Gujarat has made the Congress jittery, while the US investment bank’s forecast spells more worry for policy-makers.
In its oil forecast for 2008, Goldman has said that prices could reach $105 per barrel and rule at an average level of $95.
R. SURYAMURTHY
Mukherjee: Balancing act
New Delhi, Dec. 25: The discussions at next week’s meeting of the group of ministers on fuel prices will be in the backdrop of Gujarat poll results and a Goldman Sachs projection of a surge in the global price of crude.
The victory of BJP’s Narendra Modi in Gujarat has made the Congress jittery, while the US investment bank’s forecast spells more worry for policy-makers.
In its oil forecast for 2008, Goldman has said that prices could reach $105 per barrel and rule at an average level of $95.
Fuel price
Fuel panel for token price hike
R. SURYAMURTHY & JAYANTA ROY CHOWDHURY
Deora: Rising curve
New Delhi, Jan. 18: The group of ministers on fuel is believed to be in favour of recommending a marginal hike in the price of petrol by about Rs 1 a litre.
The view emerged yesterday at the meeting of the ministers and will be discussed with other Congress leaders. If cleared by the political leadership, the ministers may approve the hike at their meeting tomorrow.
This is expected to push inflation up marginally, said top officials. Inflation rose to a four-month high of 3.79 per cent for the week ended January 5 compared with 3.50 per cent in the previous week.
R. SURYAMURTHY & JAYANTA ROY CHOWDHURY
Deora: Rising curve
New Delhi, Jan. 18: The group of ministers on fuel is believed to be in favour of recommending a marginal hike in the price of petrol by about Rs 1 a litre.
The view emerged yesterday at the meeting of the ministers and will be discussed with other Congress leaders. If cleared by the political leadership, the ministers may approve the hike at their meeting tomorrow.
This is expected to push inflation up marginally, said top officials. Inflation rose to a four-month high of 3.79 per cent for the week ended January 5 compared with 3.50 per cent in the previous week.
Crude boils
Oil duty recast on the boil
R. SURYAMURTHY
New Delhi, Feb. 18: The government is considering a duty rejig for petroleum products to bridge the gap between global crude prices and domestic retail prices that persists despite last week’s rise in petrol and diesel prices.
This is also expected to send the right political message to the electorate before the assembly polls this year and the general elections later.
Officials said last week’s price hike of Rs 1 per litre of diesel and Rs 2 for a litre of petrol would bridge only Rs 840 crore of the Rs 71,000-crore gap between costs of fuels and their prices.
Though oil bonds — which is the debt that the government incurs to subsidise fuel prices — will cover about 57 per cent of the gap, a large deficit still needs to be addressed.
R. SURYAMURTHY
New Delhi, Feb. 18: The government is considering a duty rejig for petroleum products to bridge the gap between global crude prices and domestic retail prices that persists despite last week’s rise in petrol and diesel prices.
This is also expected to send the right political message to the electorate before the assembly polls this year and the general elections later.
Officials said last week’s price hike of Rs 1 per litre of diesel and Rs 2 for a litre of petrol would bridge only Rs 840 crore of the Rs 71,000-crore gap between costs of fuels and their prices.
Though oil bonds — which is the debt that the government incurs to subsidise fuel prices — will cover about 57 per cent of the gap, a large deficit still needs to be addressed.
Fuel Price
Panel tilts towards fuel tax reduction
R. SURYAMURTHY
RESCUE MEASURES
New Delhi, Nov. 25: The group of ministers on fuel prices is likely to recommend cuts in taxes and will try to insulate consumers from the surge in global crude price that is poised to cross $100 a barrel.
Government officials are pressing for a marginal increase in prices, but this will depend on the political climate. Set up by Prime Minister Manmohan Singh, the group of ministers is headed by external affairs minister Pranab Mukherjee and will submit its plans within a month.
R. SURYAMURTHY
RESCUE MEASURES
New Delhi, Nov. 25: The group of ministers on fuel prices is likely to recommend cuts in taxes and will try to insulate consumers from the surge in global crude price that is poised to cross $100 a barrel.
Government officials are pressing for a marginal increase in prices, but this will depend on the political climate. Set up by Prime Minister Manmohan Singh, the group of ministers is headed by external affairs minister Pranab Mukherjee and will submit its plans within a month.
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