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
May 28,2020

New Delhi, May 28: With 6,566 more coronavirus cases and 194 deaths reported in the past 24 hours, India's COVID-19 tally reached 1,58,333 on Thursday, according to the Union Ministry of Health and Family Affairs.

The number of active coronavirus cases stands at 86,110, while 67,692 people have recovered and one patient has migrated, it said. The death toll due to the infection has reached 4,531 in the country.

Maharashtra is the worst affected state with 56,948 cases. Tamil Nadu has recorded as many as 18,545 cases while Gujarat and Delhi have recorded 15,195 and 15,257 coronavirus cases respectively.

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News Network
June 6,2020

United Nations, Jun 6: The COVID-19 pandemic, which has presented challenges for several nations, could be an “opportunity” for India to speed up the health insurance scheme Ayushman Bharat, especially with a focus on primary healthcare, WHO chief Tedros Adhanom Ghebreyesus has said.

WHO Director-General Ghebreyesus was responding to a question on the COVID-19 situation in India, where the number of coronavirus cases are increasing rapidly. India went past Italy on Friday to become the sixth worst-hit nation by the COVID-19 pandemic.

India saw a record single-day jump of 9,887 coronavirus cases and 294 deaths on Saturday, pushing the nationwide infection tally to 2,36,657 and the death toll to 6,642, according to the health ministry.

"Of course COVID is very unfortunate and it's challenging for many nations but we need to look for opportunities too. For instance for India, this could be an opportunity to speed up Ayushman Bharat, especially with a focus on primary health care. I know there is a very strong commitment from the government to speed up the implementation of Ayushman Bharat and with primary healthcare and community engagement, I think we can really turn the tide,” Ghebreyesus said during a press briefing in Geneva on Friday.

Ayushman Bharat is the world’s largest health insurance scheme and was launched by the Narendra Modi government in 2018. Last month, Modi had said that the number of people who have benefited from the scheme crossed the one crore-mark.

The scheme aims to cover more than 500 million beneficiaries and provide coverage of Rs 500,000 per family per year.

Referring to the Ayushman Bharat scheme, Ghebreyesus added that “using and speeding up what has started could actually help in India and that's what WHO was very appreciative by the way when Ayushman Bharat started. And this could be a very good opportunity actually to test that and speed up and use it to really fight this pandemic.”

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News Network
July 22,2020

New Delhi, Jul 22: India is responding with utmost urgency to coronavirus from the very beginning and has been continuously strengthening preparedness and response measures, WHO Regional Director (South-East Asia) Poonam Khetrapal Singh said on Wednesday.

"India is responding with utmost urgency to COVID-19 from the start. It's been continuously strengthening preparedness and response measures, including ramping up testing capacities, readying more hospitals, arranging and stocking up medicines and essentials," Singh said at a virtual briefing.

"India took bold, decisive and early measures earlier in the outbreak. The country did not witness an exponential increase in cases like some other countries which reported their first few cases along with India. Like in any other country the transmission of COVID-19 is not homogenous in India. There are areas yet to see a confirmed case, some have sporadic cases, in some areas some small clusters while we are witnessing large clusters in some megacities from the densely populated areas," Singh said.
She said WHO was aware of varying capacities at sub-national levels.

"Not unusual in a country as big as India and its population size that measures taken may often not be uniformly sufficient across all areas. Scaling up capacities and response remains a constant need in India."

Replying on the question of what more needs to be done in controlling the spread of COVID-19, she said all countries including India must continue to implement core public health and social distancing measures.

"Local epidemiology to guide our response for finding hotspots and testing, detecting, isolating and providing care to the affected, promoting safe hygiene practices and respiratory etiquette, protecting health workers and increasing health system capacity is also key," she said.

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