Oil firms go for petrol price hike again

July 24, 2012

oil

New Delhi, July 24: The state-owned oil companies on Monday announced another hike in petrol prices, by a minimum of 70 paise per litre, excluding state levies, citing surge in international oil prices and depreciation of the Indian rupee against the US dollar.

The hike will come into effect from Monday midnight. “As a consequence of the said revision, increase in selling price shall vary from Rs 0.70 per litre to Rs 0.91 per litre depending upon the state taxes,” the oil companies said.

Petrol will now cost Rs 68.48 per litre in Delhi, Rs 77.30 in Bangalore, Rs 74.23 in Mumbai, Rs 73.16 in Chennai, Rs 75.80 in Hyderabad and Rs 73.61 in Kolkata. The price in Delhi will go up by 70 paise, while in Bangalore and Hyderabad, the hike will be 91 paise.

In Mumbai, petrol will cost 88 paise more, while in Chennai and Kolkata, the prices will go up by 89 paise and 87 paise respectively. Until now, a litre of petrol cost Rs 67.78 in Delhi, Rs 76.39 in Bangalore, Rs 74.89 in Hyderabad, Rs 72.27 in Chennai, Rs 73.35 in Mumbai and Rs 72.74 in Kolkata.

“The price revision in other states will vary depending upon the respective rates of state VAT or sales tax,” Indian Oil said. The hike follows two rounds of reductions in the last one month. The prices were reduced by Rs 2.02 per litre on June 3 and Rs 2.46 a litre on June 29.

Fresh revision

“The (fresh) revision (in petrol prices) has been necessitated due to increasing international oil prices and movement in INR-USD exchange rate,” the oil companies said.

Average price of Indian basket of crude is $ 101.28 per barrel while international MS price is $ 111.59 a barrel. The value of rupee is 55.36 against a USD. “At these levels, IOC is incurring losses of about Rs 1.41 per litre on MS sales in the domestic market.

However, as the price movement is quite volatile, it has been decided that an increase of Rs. 0.70/ litre (excluding state levies) may be effected at this juncture and the situation watched for some time depending upon which a further view will be taken at an appropriate time,” the Indian Oil said.

State-owned oil firms have now abandoned the practice of revising petrol prices on the 1st and 16th of every month. Price is now revised on a random date.

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News Network
March 18,2020

New Delhi, Mar 18: As many as 276 Indians have been infected with coronavirus abroad, including 255 in Iran, 12 in UAE and five in Italy, the government informed the Lok Sabha on Wednesday.

In a written reply to a question in the Lok Sabha, Minister of State for External Affairs V Muraleedharan said the total number of Indians infected by coronavirus is 276 — 255 in Iran, 12 in UAE, five in Italy, and one each in Hong Kong, Kuwait, Rwanda and Sri Lanka.

A fourth batch of 53 Indians returned to India from Iran on Monday, taking the total number of people evacuated from the coronavirus-hit country to 389.

Iran is one of the worst-affected countries by the coronavirus outbreak and the government has been working to bring back Indians stranded there. Over 700 people have died from the disease in Iran and nearly 14,000 cases detected.

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News Network
June 10,2020

New Delhi, Jun 10: India on Wednesday reported a spike of 9,985 more COVID-19 cases in the last 24 hours, taking the country's COVID-19 count to 2,76,583, according to the Union Ministry of Health and Family Welfare.

279 deaths were reported in the last 24 hours taking the total death toll to 7,745.

The total number of active cases has reached 1,33,632 while 1,35,205 patients have recovered. While one person has migrated.

With 90,787 cases, Maharashtra reported the highest number of coronavirus cases in the country followed by Tamil Nadu with 34,914 cases.

According to the Indian Council of Medical Research (ICMR), 1,45,216 samples were tested in the last 24 hours while overall 50,61,332 samples have been tested so far.

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News Network
February 11,2020

Aligarh, Feb 11: Paediatrician Dr Kafeel Khan, who was arrested from Mumbai on January 29 after he delivered a speech at Aligarh Muslim University (AMU) against communalism and politics of hate, will be released from jail on Tuesday after he was granted bail by an Aligarh court.

Khan will be released from Mathura jail on Tuesday after legal formalities are completed.

Chief judicial magistrate Karuna Singh granted bail to Khan on Monday on a bail bond of Rs 60,000. Two surety bonds of Rs 60,000 each would also be furnished by the guarantors.

Dr Khan's lawyer, Mohammad Irfan Gazi, told reporters, "The court was told that Khan was falsely implicated by police under political pressure. After hearing the arguments, the court granted him bail."

The suspended doctor was arrested by special task force (STF) of the UP police from Mumbai on January 29, when he reached the city to attend a protest against the Citizenship (Amendment) Act.

He was arrested in connection with a case registered against him in Aligarh under section 153-A (promoting enmity between different groups on ground of religion) of the Indian Penal Code at Civil Lines police station on December 13

The case was filed after his speech at Aligarh Muslim University (AMU).

According to the FIR, while addressing students, without naming anyone, Dr Kafeel Khan said that 'Mota Bhai' is teaching everyone to become Hindu or Muslim but not a human being. "This is a fight for our existence. We have to fight."

The FIR also said that Dr Kafeel Khan made an attempt to vitiate the peaceful atmosphere and disturb the communal harmony with his speech.

Dr Khan was in the news in 2017 when he was named as one of the nine accused in a case involving deaths of several children due to alleged disruption in supply of oxygen at the BRD Medical College in Gorakhpur. Though he was granted clean chit in a departmental inquiry, his suspension has not yet been revoked.

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