Ignoring Bharat Bandh, Modi govt hikes petrol, diesel prices again amidst protests

Agencies
September 10, 2018

New Delhi, Sept 10: Even as the opposition parties called for Bharat Bandh to protest against the soaring fuel prices, the govt-owned oil marketing companies (OMCs) have again increased the price of sensitive petroleum products like petrol and diesel in the country on Monday.

The prices of petrol and diesel touched a new high with Mumbai paying the maximum among the four metros. While petrol costs ₹88.12 a litre, diesel is priced at ₹77.32 a litre, according to the daily price notification issued by OMCs.

In Delhi, the petrol price has been risen to a record ₹80.73 a litre, while diesel price has been increased to ₹72.83 a litre, which is also at a record high, but lowest among the four metros.

The petrol prices has gone up by around 5% since August 1, while diesel prices has gone up by 7% during the same period.

The price build-up of petrol in Delhi as on September 3, includes excise duty of ₹19.48, dealer commission of ₹3.63, and VAT of ₹16.83(including VAT on dealer commission).

Similarly, the price build-up of diesel in Delhi includes excise duty of ₹15.33, dealer commission of ₹2.51, and VAT of ₹10.46(including VAT on dealer commission).

In Kolkata, the price of petrol has been increased to ₹83.61 per litre while the diesel price has gone up to ₹75.68 per litre. Similarly, petrol is being sold for ₹83.91 per litre in Chennai and the diesel retail price is ₹76.98 per litre.

The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹72. 18 against the U.S. dollar on Monday, while price of Brent oil was still hovering over $77 a barrel.

India imports about 80% of its crude oil, and the falling Indian rupee will make the imports costlier and lead to a rise in fuel prices.

State-owned oil firms had in mid-June last year dumped the 15-year practice of revising rates on the first and 16th of every month.

India imported crude oil worth ₹2,640,30 crore (over $39 billion) between April and July 2018, according to the data by the Petroleum Planning and Analysis Cell.

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News Network
March 16,2020

New Delhi, Mar 16: Reliance Group Chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.

They said Ambani was asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are among the big entities whose loans went bad after borrowing from the crisis-hit bank.

The officials said Ambani, 60, has sought exemption from appearance on some personal grounds and he may be issued a new date.

Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.

Finance Minister Nirmala Sitharaman had said in a March 6 press conference that the Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to.

Officials said promoters of all the big companies who had taken large loans from the beleaguered bank which later turned bad are being summoned for questioning in the case to take investigation forward.

Ambani's statement will be recorded under the Prevention of Money Laundering Act (PMLA) upon deposition, they said.

Kapoor, 62, is at present in ED custody after he was arrested by the central probe agency early this month.

The ED has accused Kapoor, his family members and others of laundering "proceeds of crime" worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned NPA.

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News Network
May 21,2020

New Delhi, May 21: As many as 5,609 new COVID-19 cases were reported in India in the last 24 hours, taking the total number of cases in the country to 1,12,359 according to the Union Ministry of Health and Family Welfare.

Out of the total cases, 63,624 are active cases, 45,300 patients have been cured/discharged or have migrated and 3,435 deaths have been reported.

With 39,297 cases in total, Maharashtra remains the worst affected state in the country, followed by Tamil Nadu (13,191 cases), Gujarat (12,537 cases), and Delhi (11,088 cases).

The nationwide lockdown imposed as a precautionary measure to contain the spread of coronavirus has been extended till May 31.

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News Network
June 25,2020

Ottawa, Jun 25: Prime Minister Justin Trudeau took his son out for ice cream on Wednesday in his first family outing since Canada started easing out of its pandemic lockdown.

It was also Saint-Jean-Baptiste Day in Quebec province.

Wearing masks, the Canadian leader and his six-year-old son Hadrien were cheered at Chocolats Favoris in Gatineau, Quebec.

According to a pool report, Trudeau said the shop tapped into a federal emergency wage subsidy and business loan in order to weather the pandemic, and "avoid being frozen out of the frozen treat market."

Hadrien is said to have bounced with excitement, settling on a vanilla cone with a cookie topping while dad bought a vanilla cone dipped in chocolate for himself.

Father and son then headed out to the patio, where they doffed their masks to eat their cones.

Canada's provinces and territories declared states of emergency mid-March, closing schools and non-essential businesses in response to the pandemic.

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