OilMin to kickstart a 17.5-cr campaign to conserve fuel worth $2.5 b; drivers can save each public transport bus 80k a year.
The measures is part of the plan outlined recently by oil minister Veerappa Moily to the Prime Minister to cut India's oil import bill by $20 billion.
Government officials, however, cite rising costs of food grain and vegetables as key reasons for deferring the diesel price hike decision.
The Cabinet has cleared a Rs 37,230 crore refinery project in poll-bound Rajasthan, ahead of UPA Chairperson Sonia Gandhi's visit.
The cabinet on Friday may approve the Rs 37,230 crore Rajasthan refinery project, ahead of imminent assembly elections in the Congrass-ruled state.
"We would like to resolve them instead of importing gas at $14/unit. We want to bring out gas within legal framework," Petroleum Secy said.
With Reliance Industries 'failing' to meet contractual timelines, the Oil Ministry today indicated that it will not compromise on legal commitments in the quest for early monetisation of the gas discoveries.
With petrol prices hitting the roof, state oil firms give a detailed calculation on their website, though the data presented looks absurd.
The govt is encouraging state energy firms to fund foreign acquisitions entirely with foreign debt instead of using their own cash reserves.
The petrol price in Delhi will go up by Rs 1.96 to Rs 76.06 per litre, while it will cost Rs 83.63 per litre in Mumbai.
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