But indicate prices may come down next month. While maintaining that there will be no immediate rollback of the hike in petrol prices, oil companies have indicated that prices may come down next month as part of the revision exercise. While the move to hike petrol prices is being opposed by political parties, stock markets and industry have cheered the move and even the rupee gained strength today on the back of improved sentiment.

New Delhi State-owned fuel marketers IOC, HPCL and BPCL on Thursday ruled out an immediate rollback of the steepest petrol price increase of R7.5-R8 a litre from Thursday night but conceded that if the government instructs them to cut prices, they have no other go but to follow their majority shareholder.

They also indicated that if petrol price falls in world markets or rupee strengthens against the dollar this fortnight, the resultant gain shall be passed on to the consumer by way of a price cut.

Rates of diesel, LPG and kerosene left untouched

The UPA-II, celebrating three years in office, gave the “common man” a gift on Wednesday: the steepest- ever increase of Rs. 7.54 in petrol prices. The increase is the first in the past six months. Petrol price in Delhi was increased by Rs. 7.54 a litre to Rs. 73.18 with effect from midnight Wednesday, the state-owned oil marketing companies said in separate, but identical, statements.

Plans to use UID cards to reach out to beneficiaries, following successful pilot project in Alwar, Rajasthan

The government said today that it planned to provide direct subsidy to beneficiaries of kerosene oil and a pilot project in this regard in Alwar district of Rajasthan was yielding good results. "Direct subsidy on kerosene is planned in future...We have to move towards it. It will be done using UID cards... We are benefiting from the pilot project," Minister of State for Petroleum and Natural Gas RPN Singh said in the Rajya Sabha.

Indian Oil Petronas Private Limited, a joint venture between Indian Oil Corporation Limited (IOCL) and Petronas Malaysia, is setting up an LPG (liquefied petroleum gas) import-export terminal at the Ennore Port. The new facility will have a tankage capacity of 30,600 tonnes and will attract an investment of around Rs 497.83 crore.

Union minister of state for petroleum and natural gas R P N Singh informed the Lok Sabha that the IOC was proposing to set up an LNG (liquefied natural gas) import terminal at Ennore Port with storage and regasification facilities of 5 million metric tonne per annum capacity at an estimated cost of Rs 4,320 crore.

BPCL, HPCL and Indane furnished a list of consumers with more than one cylinders

If you are one of those LPG customers, ‘enjoying’ the facility of more than one gas connection, here is some serious trouble coming your way. The oil marketing companies (OMCs) - Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indane - have come together to weed out multiple gas connections.

If you have multiple liquefied natural gas (LPG) connections or one along with a piped natural gas (PNG) connection, be ready to have your cylinder blocked if you do not surrender it. The three government oil marketers blocked as many as 3.8 million LPG connections by March 2012.

Oil marketing companies IndianOil, Bharat Petroleum and Hindustan Petroleum together blocked nearly 2.9 million LPG connections belonging to customers having more than one connection across states. Similarly, around 900,000 LPG connections with consumers having PNG connections were blocked.

The LPG import terminal project of IndianOil Petronas Pvt Ltd (IPPL) near Chennai that can help in speeding up cooking gas supplies to millions of households in the South, especially Tamil Nadu, is facing delay in its commissioning for want of a clearance from the Union Ministry of Environment.

The Ennore terminal had been completed in all respects and was got ready for commissioning by March itself, say sources in Indian Oil Corporation.The wait, according to IPPL officials, is for the CRZ (coastal regulation zone) clearance from the Ministry for the pipelines connecting the jetty at the Ennore port and the terminal. A length of 675 m is falling in the CRZ zone, they add.

Oil marketing companies have not revised petrol prices since December 1, 2011, despite sharp increase in international prices of petroleum products

With losses on sale of petrol climbing to over Rs 7 a litre, state-owned oil firms have asked the government to either provide subsidy on the fuel or reduce excise duty. "The public sector oil marketing companies have not revised the price of petrol since December 1, 2011, in spite of sharp increase in international prices of petroleum products," Minister of State for Petroleum and Natural Gas RPN Singh told the Lok Sabha here today.