Friday, 17 August, 2018

Crude one-paisa joke on petrol

Petrol price rose by nearly Rs 4 in the last 16 days Petrol price rose by nearly Rs 4 in the last 16 days
Elsie Buchanan | 31 May, 2018, 18:33

A litre of diesel in Delhi now costs Rs 69.25, down from Rs 69.30. ONE paisa!?? If this is your idea of a prank, it is childish and in poor taste.

Many opposition parties and consumers slammed the one paisa cut in fuel prices.

Indian Oil Corp, the country's top refiner and fuel retailer, has marginally cut pump prices of petrol and diesel around India, its website showed on Wednesday. Diesel prices increased by Rs 3.32 a litre, Rs 3.17 per litre, Rs 3.53 a litre and Rs 3.56 a litre respectively. The move, effective from June 1, comes amid growing clamour for an excise duty cut to bring down skyrocketing fuel prices.

The Congress party on Tuesday slammed the Narendra Modi government for failing to reduce prices of petroleum products and said it was engaged only in managing elections and headlines.

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The marginal decline in fuel prices had its share of excitement with state-owned Indian Oil Corporation (IOC) first announcing a reduction of 60 paise - the biggest since daily price revision was introduced in mid-June a year ago, only to retract it within a couple of hours citing a technical error.

Speaking along the same lines, CPI (M) general secretary Sitaram Yechury also suggested that Prime Minister Narendra Modi should follow Kerala's example and reduce the duties on fuel. Fuel prices can not go up like this.

Global crude prices have risen by two-thirds in 11 months. In a rebuff to Vijayan's remarks that the cut in fuel prices was a message to the BJP-ruled Centre, Pradhan alleged it was the Centre which had appealed to the Kerala government for a reduction in oil prices but its offer was spurned by state Finance Minister Thoman Issac.

"Another second anniversary gift to the people: The sales tax on petrol reduced by 1.69% and diesel by 1.75% in Kerala". State govt to forego revenue of Rs 500 crore annually.

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