Tuesday, 19 June, 2018

Fuel price continues to rise, petrol up by 38 paise

Prices are highest in Mumbai with the fuel being sold at Rs 84.99 per litre followed by Chennai at Rs 80.11 and Kolkata at Rs 79.83 Fuel prices record 13 revisions since last November
Elsie Buchanan | 27 May, 2018, 00:34

Petrol prices in Mumbai, Delhi and Chennai have already reached unprecendent levels, and are now setting a new benchmark every other day.

The Narendra Modi-led government cut the excise duty on fuels by Rs 2 a litre last October.

"Central government saves Rs 15 on every litre of petrol due to fall in crude oil prices".

The petrol price in India's financial capital Mumbai touched Rs 84.99 a litre on Wednesday. The central government levies Rs 19.48 excise duty on a litre of petrol and Rs 15.33 on diesel.

Fumed over the price hike, locals in Bhopal asked the government to reduce the prices.

While HPCL, another state-owned OMC, recorded a drop of 4 per cent in its March quarter profit, the overall FY18 net profit was highest ever for the company at Rs 6,357 crore.

Diesel prices across metros on May 23
Diesel prices across metros on May 23

Bhutan is also expected to experience hikes in fuel prices. Petrol and diesel prices were raised for the 11th day in succession today as the state-owned oil firms gradually passed on to the consumer the increased cost of global oil that had accumulated since a 19-day freeze was imposed just before Karnataka elections. In Delhi, petrol costs Rs 77.17 a litre and diesel costs Rs 68.34 a litre.

Modi government's accountability is far greater than the previous UPA government because during the fag end of Manmohan Singh's second term, the worldwide oil prices had touched $150 a barrel, nearly double than today's prices.

"The oil price has increased by $30 a barrel since last July as a result of OPEC (the Organisation of the Petroleum Exporting Countries) and Russian Federation limiting production to reduce an oversupplied market".

Also, the government does not want to tinker with the autonomy given to oil PSUs to revise rates daily in line with the cost. We are trying to build a consensus in GST Council on bringing petroleum under GST. Until June 2015, the government subsidised India's oil refiners and marketers such as Indian Oil, HPCL and BPCL. It remains to be seen whether the common man will get a short-term relief or maybe a long term.

Earlier, Union Petroleum and Natural Gas Minister Dharmendra Pradhan assured the public that the government will soon take out a solution to tackle the situation. Failure to do so will severely dent Modi's Mission 2019.

Zuckerberg At VivaTech: 'Everyone Cares About Privacy'
Cambridge Analytica used Facebook data to build psychological profiles on millions of people, including 2.7 million from the EU. "We didn't take a broad enough view of our responsibility".


Recommended

John Terry not allowed Chelsea clause in Aston Villa contract John Terry not allowed Chelsea clause in Aston Villa contract Fulham boss Slavisa Jokanovic recognised that his team will have to invest in their side to ensure survival after winning promotion.

Serena Williams to face Kristyna Pliskova in French Open first round Serena Williams to face Kristyna Pliskova in French Open first round The 26-year-old plays the tall Dodin, ranked 60 places below Watson at 133rd, for the first time. The British number one has beaten Putintseva in both of their meetings - and both came on clay.

Complaints vs Google, Facebook under new European Union law Complaints vs Google, Facebook under new European Union  law An organization can be fined up to €20 million or 4% of their worldwide annual turnover (whichever is greater) under the laws. Some are obvious, such as to fulfill contractual obligations - for instance, when an insurer pays out a claim.

Brent Crude Oil Price Falters at $80, Downside Back In Focus Brent Crude Oil Price Falters at $80, Downside Back In Focus Crude imports were up by 558,000 Bbls and refiners produced less distillate fuel, which includes diesel and heating oil. At the end of the previous trading session it increased by 0.1% compared to the closing of 485 yuan per barrel.

Pulitzer-winning author Philip Roth dead at 85 Pulitzer-winning author Philip Roth dead at 85 Roosevelt took office and lived through the tenures of leaders like Richard Nixon and George W. Roth went on to state in the emails he was born in the year former President Franklin D.

Chris Paul injury: Rockets guard out for Game 6 vs. Warriors Chris Paul injury: Rockets guard out for Game 6 vs. Warriors Kevin Durant paced the Warriors with 29 points while Stephen Curry and Klay Thompson combined for 45 points on 16-of-31 shooting. Rockets: Clint Capela had 12 points and 14 rebounds for his seventh double-double this postseason. "We're right there.

Sledgehammer road rage attack Sledgehammer road rage attack NBC10 reports that the incident occurred around 1:30 p.m. on Tuesday, in the parking lot of a business on East Luzerne Street. The driver of the pickup truck then strikes the passenger with the sledgehammer before breaking the rear window of the SUV.

Oleg Deripaska resigns from Rusal amid USA sanctions row Oleg Deripaska resigns from Rusal amid USA  sanctions row Treasury Department has given U.S. customers of the company until October 23 to wind down business with Rusal. Mr Deripaska previously resigned from the board of EN+, his company through which he owns a stake in Rusal.

Recently adopted 1-year-old girl left in truck dies in Tennessee Recently adopted 1-year-old girl left in truck dies in Tennessee Police said Barker returned to the home around 8 a.m. and left a few minutes later for the airport in a rideshare. The station reported that the child had celebrated her first birthday days earlier.

Amazon's Alexa Recorded Couple's Private Conversation & Sent To Contacts Amazon's Alexa Recorded Couple's Private Conversation & Sent To Contacts Amazon says that the Echo device would have to have said "To whom" out loud, although the family says they did not hear this. Amazon offered to "de-provision" communications on their Alexa devices so that the family could continue using the products.

North Korea breakthrough "just delayed", says top USA commander in South Korea North Korea breakthrough Incoming U.S. presidents enjoy a good deal of discretion, but they have no choice when it comes to the problems they inherit. But Pyongyang has vowed it will never give up its nuclear deterrent until it feels safe from what it terms U.S. aggression.

FDA Warns Parents of Harmful Teething Product FDA Warns Parents of Harmful Teething Product More than 400 cases have been reported to the FDA or appear in the medical literature, the agency said in a data summary . These gels and creams contain the drug benzocaine that is a local anesthetic gel and can numb the area stopping the pain.

It's U.S. Trade Policy-Not Car Makers-That's Spinning Off Course It's U.S. Trade Policy-Not Car Makers-That's Spinning Off Course The U.S. president was responding to a question from reporters about a tweet he sent out Wednesday morning about auto workers. Japan is the only major US ally that was not granted a temporary exemption from the tariffs. "We'll win big.

China to cut car import tariffs as trade war fears recede China to cut car import tariffs as trade war fears recede The president is now planning a summit with North Korea's leader Kim Jong-un in June, though North Korea has threatened to cancel. Several farm-state lawmakers expressed relief that a damaging round of tariffs is - for now - no longer on the horizon.

Harvey Weinstein Charged With Felony Sex Crimes by Manhattan DA Harvey Weinstein Charged With Felony Sex Crimes by Manhattan DA Federal prosecutors in NY have started a sex crimes investigation involving him, according to the Wall Street Journal. Another aspiring actress, Mimi Haleyi, said Weinstein forcibly performed oral sex on her in his NY apartment in 2006.