New Delhi, March 27 (IANS) The government on Friday said retail pump prices of petrol and diesel will not change, and the excise reduction is not being passed on as a price cut at the pump.Instead, it directly reduces the under-recoveries being absorbed by public sector oil marketing companies (OMCs) — Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation — who have continued to supply fuel to Indian consumers at prices well below their cost of supply, the …
Latest Petroleum Ministry News & Updates
New Delhi, March 27 (IANS) The Central government on Friday increased the allocation of commercial LPG cylinders to 70 per cent of the required demand, from 50 per cent earlier, in order to provide relief to industrial and commercial users amid the shortage of gas caused by the disruption in imports due to the Iran war. Priority will be given to labour-intensive sectors such as steel, automobiles, textiles, dyes, chemicals and plastics as they also support other essential industries.Among these …
New Delhi, March 27 (IANS) Petroleum and LPG supply situation is under control and there is no shortage of petrol, diesel or LPG anywhere in the country, while retail outlets have sufficient stocks and are dispensing fuel without interruption, according to the government.As the world’s 4th largest refiner and 5th largest exporter of petroleum products, India’s domestic availability is structurally assured, according to Petroleum Ministry.While other nations are declaring “National Energy Emerg…
New Delhi, March 27 (IANS) The government on Friday slashed excise duties on petrol and diesel by Rs 10 per litre each, bringing them down to Rs 3 per litre for petrol and zero for diesel, in a move aimed at cushioning the impact of surging global oil prices.The government has also provided exemptions on duties for fuel exports and supplies to foreign-going aircraft.Separately, the Centre has rescinded an earlier 2022 notification and granted customs duty relief on imported aviation turbine fuel…
New Delhi, March 26 (IANS) The government on Thursday categorically stated that India’s petroleum and LPG supply situation is fully secure and under control, calling upon citizens not to be misled by a “deliberately mischievous, coordinated campaign of misinformation” that is being carried out to spread unjustified panic.India has 74 days of total reserve capacity, and actual stock cover is around 60 days right now (including crude stocks, products stocks and the dedicated strategic storage in c…
New Delhi, March 25 (IANS) The government said on Wednesday that it is making all efforts to ensure availability of LPG, petrol and diesel and citizens are advised to avoid panic purchases.No dry-outs have been reported at LPG distributorships or petrol pumps. Delivery of domestic LPG cylinders continues as normal, the official update of the situation said.The government has already restored partial commercial LPG supply of up to 20 per cent to consumers. Further, the government proposed an addi…
New Delhi, March 24 (IANS) Enforcement actions continue across states to curb hoarding and black marketing of LPG, and so far, about 642 FIRs have been registered and around 155 people arrested, the government said on Tuesday. As part of the enforcement actions, about 3,400 raids were conducted, and around 1,000 cylinders were seized in the past 24 hours.Major actions were reported in Andhra Pradesh, Haryana, Madhya Pradesh, Rajasthan, and Telangana. PSU Oil Marketing Companies conducted more th…
New Delhi, March 23 (IANS) More than 3.5 lakh domestic and commercial piped natural gas (PNG) connections for cooking have been issued during the first three weeks of March this year by city gas distribution entities, while domestic LPG cylinder deliveries continue as normal and panic bookings have declined significantly, according to a government statement issued on Monday. LPG supply continues to be monitored in view of the prevailing geopolitical situation, while no dry-outs have been reporte…
New Delhi, March 21 (IANS) The government on Saturday said that raids continue to be carried out in many of the states and Union Territories (UTs) to check the hoardings and black marketing of LPG.More than 3,500 raids have been conducted and around 1,400 cylinders have been seized in Uttar Pradesh, Telangana and Maharashtra, etc.“All the States/UTs governments are requested to conduct regular raids so that black marketing and hoardings can be arrested,” said Petroleum Ministry.PSU oil marke…
New Delhi, March 21 (IANS) As the West Asia crisis escalates affecting global supply chains, the government has advised city gas distribution (CGD) entities to prioritise PNG connections for commercial establishments such as hotels, restaurants and canteens.The CGD companies include IGL, MGL, GAIL Gas and BPCL are currently offering incentives. These have been directed by PNGRB to shorten the timeline between the submission of applications and the commencement of gas supply to consumer household…