Diesel and Petrol Price hikes

Kirit Parikh Committee immediately four to five per liter diesel price hike is recommended . Controlled by the government for petroleum products is suggested to continue the existing value system . To determine the cost of diesel and cooking gas constituted the committee on Wednesday will be presenting its report to the government .

Sources say the group privileges diesel, kerosene and cooking gas price for the current system to continue. Diesel sales at less than cost price to reduce the burden on oil companies are likely to increase given time . At the same time, the subsidy is being provided , to finish it off every month to increase the price per liter .

Due to the huge import bill of petroleum products to handle the economy getting out of hand the government wants to reduce subsidy burden as soon as possible . Last fiscal year, the Finance Ministry is keeping the pressure on refineries to the same price they have to pay to import .

The Ministry argues that the import price based Fomrula ( import price , taxes and transportation ) to be taken from last year's subsidy bill of Rs 161 029 17 618 million could be saved .
Ministry Committee rejected this argument , stating that prices of kerosene and LPG gradually increase is suggested . This price within two to three years will be according to market value .

Deregulate diesel Prices will be in six months

Petroleum Minister Veerappa Moily has said that it will deregulate diesel prices in six months . But the appreciation of the rupee against the dollar and crude oil prices will depend upon softening . The government in January of every month at 50 cents per liter of diesel oil firms to hike was approved . But at the current price increase every month under recovery will take 19 months to finish .
KPMG 's Energy Conclave Moily said that fuel prices will rise every month as per the existing policy . To minimize the loss of oil prices to Rs 3-4 per liter increase in the time he refused . State-controlled oil companies from selling price of diesel is currently losing Rs 9.28 . Moily hoped that the rupee against the dollar in the next few months to improve the situation . With crude oil prices fall. It under

recovery diesel will soon be over .
Small cylinder petrol pumps across the country will sell
Auction of oil and gas blocks in the 10 th round of NELP auction , he will be in January 2014 . This will help increase domestic production . New Exploration and Licensing Policy [ NELP ] in 2011 was the ninth round of the auction . Then was invited bids for 33 oil and gas blocks 19 blocks but were given different companies .
He said that the price of domestic coal is much lower than imported coal . The price once, but gradually there should be passed .

US Exempts India

                                                            Authorization

National Defense Act to exempt from sanctions have been found worthy . "

The country six months without any penalty in the amount of crude oil purchases from Iran will be reduced . In addition to these countries, Malaysia , South Africa , Singapore and Sri Lanka are also exempt from the ban because they do not buy crude oil from Iran now . Kerry said U.S. President Barack Obama before the announcement of the reduction in oil imports from Iran by different countries to continue getting adequate supply of non- Iranian oil . U.S. to stop buying oil from Iran and other countries have imposed severe restrictions .
U.S. says Iran's nuclear program is peaceful . While Iran denies the charge . The six world powers in Geneva on November 24 and between Iran over its nuclear program, the interim agreement is historic .