Cabinet note on capping subsidy share of upstream oil cos soon

Ministry of Petroleum and Natural Gas will go to the Cabinet soon seeking a minimum USD 65 per barrel price for state oil and gas explorers like ONGC.

Moily hints at moderation in diesel price hike

Oil Minister M Veerappa Moily Friday hinted that an expert panel call for a Rs 5 a litre hike in diesel and Rs 250 increase in LPG rates will be diluted, saying that a balanced view keeping consumer interest in mind would be taken.

'Hike diesel price by Rs 5, kerosene by Rs 4, LPG by Rs 250'

Also, the panel suggested that the number of subsidised cooking gas cylinders supplied to households in a year should be cut to 6 bottles of 14.2-kg from the current quota of 9.