Huge cache of arms recovered from Dera Sacha Sauda headquarters in Sirsa

New Delhi, Jun 23: In an unexpected development, the pump price of diesel is all set to surpass the petrol price in the capital, making it the most expensive transport fuel for the first time in a long time.

Globally, diesel is priced slightly above petrol prices due to the very nature of the product that has a higher cost of production. But in India, due to the lopsided taxation structure, diesel attracts lesser of the tax between the two auto fuels keeping its prices lower than petrol for last several years.

Diesel is currently priced at Rs 79.40 a litre in the Capital, just 36 paise short of petrol price that is being retailed at Rs 79.76 a litre. Going by the trend of price movement in the two products for the last few days where diesel prices have consistently increased by 50-60 paise per litre while the daily increase in petrol prices have fallen to just 20 paise on Tuesday, it is set to surpass petrol prices in next few days.

"Diesel price movement is sharper in international market and if oil companies follow the global price trend, diesel prices will surpass that of petrol later this week. It will be after many years that this would happen and is expected to sustain for some time unless government changes the tax structure of the petroleum products again," said an oil sector expert from one of the big four audit and advisory firms asking not to be named.

Interestingly, even in India the base price of diesel is expensive than petrol. According to the Indian Oil Corporation (IOC), while the base price of petrol in Delhi currently comes to Rs 22.11 per litre, the same for diesel is higher at Rs 22.93 per litre (effective from June 16, 2020). This has been the case for a long time, but retail price of petrol can be higher than diesel due to central and state taxes.

What has now brought diesel prices to a whisker of petrol prices in the capital is the Delhi government's decision early May to increase the Value Added Tax on diesel from 16.75 per cent to 30 per cent and on petrol from 27 per cent to 30 per cent. This increased the retail price of diesel and petrol in Delhi by Rs 7.10 and Rs 1.67 a litre respectively. With Central taxes on the two products already reaching identical levels, the Delhi governments move hastened price parity between petrol and diesel.

Currently, the Central excise on petrol is Rs 32.98 a litre while that on diesel it is Rs 31.83 a litre. The VAT on petrol in Delhi is Rs 17.71 a litre and that on diesel is Rs 17.60 a litre.

While the movement of retail pricing is being seen with a sigh of relief by vehicle owners whose cars run on petrol, those buying the relatively expensive diesel cars are now repenting on their decision. The development is also being seen with caution by automobile companies who have spent millions to ramp up their facilities for diesel run vehicles. The expectation is that demand for such cars will now fall, causing more damage to companies where sales are already impacted due to persistent economic slowdown and now the spread of COVID-19 pandemic.

"The pricing development would push automobile companies to strategies being followed by companies in the western markets where diesel run cars are not sold on fuel pricing differential, but on overall make and quality that puts them ahead of petrol run cars," the expert quoted earlier.

Yes, but for commercial vehicle sector the rising price of diesel had not been welcomed. In fact, the commercial transport sector had time an again threatened strike against the move to raise fuel prices.

With petrol and diesel retail prices closing, the case for adultering fuel has also gone down much to the relief of vehicle owners.

Mumbai, Jun 1: Singer-composer Wajid Khan of music director duo Sajid-Wajid, popular for their work on superstar Salman Khan's films such as "Wanted", "Dabangg" and "Ek Tha Tiger", died in early hours of Monday in a city hospital due to complications arising from a kidney infection. He was 42.

Music composer Salim Merchant, who confirmed the news of Wajid's death, said the composer was hospitalised few days ago at Surana Hospital, Chembur where his condition deteriorated.

"He had multiple issues. He had a kidney issue and had a transplant a while ago. But recently he got to know about kidney infection... He was on the ventilator for the last four days, after his situation started getting worse. Kidney infection was the beginning and then he got critical," Salim told PTI.

The music composer duo made their Bollywood debut with Salman's 1998 movie "Pyaar Kiya Toh Darna Kya" and went on to work on actor's various films including "Garv", "Tere Naam", "Tumko Na Bhool Payenge", "Partner" and the popular "Dabangg" franchise.

Wajid also did playback for Salman in chartbusters like "Mera He Jalwa", "Fevicol Se" and for Akshay Kumar in "Chinta Ta Chita Chita" from the film "Rowdy Rathore", among others. He recently co-composed Salman's songs "Pyaar Karona" and "Bhai Bhai", which the actor released on his YouTube channel.

Wajid along with his brother Sajid served as mentor on singing reality shows "Sa Re Ga Ma Pa 2012" and "Sa Re Ga Ma Pa Singing Superstar".

The composer duo also scored IPL 4 theme song, "Dhoom Dhoom Dhoom Dhadaka", which was sung by Wajid.

Soon after the news of the composer's demise broke, many from the film fraternity took to Twitter to pay tributes.

Actor Priyanka Chopra said she will always remember Wajid's smile.

"The one thing I will always remember is Wajid bhai's laugh. Always smiling. Gone too soon. My condolences to his family and everyone grieving. Rest in peace my friend. You are in my thoughts and prayers," she posted on Twitter.

Actor Parineeti Chopra said Wajid was one of the "nicest" men in the industry.

"Always singing. All heart. Always positive. You will truly be missed Wajid bhai," she tweeted.

Actor Varun Dhawan shared a picture of his filmmaker-father David Dhawan with Wajid and remembered the musician as one of the most positive people in Bollywood.

"Shocked hearing this news @wajidkhan7 bhai was extremely close to me and my family. He was one of the most positive people to be around. We will miss you Wajid bhai thank you for the music," he wrote.

Music composer-singer Vishal Dadlani said he was "heartbroken" after hearing the news.

"Both @SajidMusicKhan and @wajidkhan7 have been close & true friends. The kind who might see the light on and show up at our studio in the middle of the night just to meet and talk and share a laugh. Can't believe Wajid and I will never speak again," he wrote.

Singer-composer Shankar Mahadevan said he was still unable to come to terms with the news of Wajid's demise.

"Shocking ! Good bye dear brother.. love you .. till we meet on the other side ! Prayers for your peaceful journey Wajid bhai," he tweeted.

Singer Javed Ali posted, "Feeling Deeply Saddened after hearing shocking news of the sudden demise of Wajid Khan. May his Soul Rest in Peace. My heartfelt condolences to his family. May Allah give strength to the family."

New Delhi, Jun 9: Petrol price on Tuesday was hiked by 54 paise per litre and diesel by 58 paise a litre - the third straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 73.00 per litre from 72.46, while diesel rates were increased to Rs 71.17 a litre from Rs 70.59, according to a price notification of state oil marketing companies.

This is the third daily increase in rates in a row. Oil companies had on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

Prices were raised by 60 paise per litre each on both petrol and diesel on Sunday as well as on Monday. In all, petrol price has gone up by Rs 1.74 per litre and diesel by Rs 1.78 a litre in three days.

Oil PSUs - Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) - had put daily price revisions on hold soon after the government on March 14, hiked excise duty on petrol and diesel by Rs 3 per litre each.

Oil companies did not pass on that excise duty hike, as well as the May 6 increase in tax on petrol by Rs 10 per litre and Rs 13 a litre hike on diesel by setting them off against the decline in retail prices that should have effected to reflect international oil rates falling to two-decade low.

International rates have since rebounded and oil companies having exhausted all the margin are now passing on the increase to customers, an industry official said.