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IOC slashes petrol price by 56 paise

[email protected] (DHNS)
October 9, 2012
Petrol_Price
New Delhi, October 9: State-run Indian Oil Corporation slashed petrol prices by Rs 0.56 per litre from Monday night, giving some relief to inflation-battered common man.

The revision, however, excludes the state levies, the IOC said in a statement.

The prices were revised downward due to the rupee appreciating against the dollar in the recent past, giving some relief to oil companies in the import of the commodity from the international market.

“Presently, the rupee-dollar exchange rate has shown an appreciating trend. The international oil prices, however, continue to remain firm casting their shadow on petrol prices,” the IOC said.

It said, the trends in the international oil market and dollar-rupee exchange rate will be closely monitored and will be reflected in future price changes.

The two other public sector fuel retailers, namely Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) have not yet announced their decision to cut pump prices for petrol, but are expected to take a decision soon. Petrol prices were last revised on June 28, when it were slashed by Rs 2.46 per litre.

The oil marketing companies have incurred a loss of Rs 2600 crore approximately on sale of petrol during April-September this year due to inability to change retail selling prices to the desired extent in line with market conditions, the IOC statement said.

70-paise cut in Bangalore

N Bhushan Narang, president of the Karnataka Petroleum Dealers Association, said the reduction in petrol prices is applicable only to IOC-owned petrol bunks as HP?and BPCL are yet to announce the reduction. “HP?and BPCL may announce slash in the petrol prices by Tuesday or Wednesday,” he said.

Narang further said the reduction of petrol prices in Bangalore city would be by around 70 paise per litre.


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News Network
June 24,2020

New Delhi, Jun 24: With the highest single-day spike of 15,968 cases and 465 deaths in the last 24 hours, India's COVID-19 count reached 4,56,183 on Wednesday.

According to the latest update by the Union Ministry of Health and Family Welfare (MoHFW), 14,476 deaths have been recorded due to the infection so far in the country.

The count includes 1,83,022 active cases, and 2,58,685 cured/discharged/migrated patients.

Maharashtra with 1,39,010 confirmed cases remains the worst-affected by the infection so far in the country. The state's count includes 62,848 active, 69,631 cured, discharged patients while 6,531 deaths have been reported due to the infection so far.

Meanwhile, the national capital's confirmed coronavirus cases reached 66,602.

2,301 deaths have been reported in Delhi due to the infection so far.

Tamil Nadu has reported 64,603 cases so far with the death toll reaching 833.

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Agencies
August 8,2020

New Delhi, Aug 8: Former Union Minister Rajiv Pratap Rudy on Saturday said that it is unfair and unfortunate to blame the pilots or the Airports Authority of India (AAI) for the Kerala place crash which took place on Friday evening.

"It is very unfortunate and unfair when experts come under television channel and they try to put blame on the Airports Authority of India or the pilots. Airport authority in an institution which has had survived various tests of time for the last 65 to 70 years, or pre-independence, so it is unfair to blame them," he said.

While speaking to news agency, Rajiv Pratap Rudy said that the 737 Boeing aircraft is reliable and the pilots were experienced, and it was wrong to blame them.

He further said that there are many possibilities on what could have happened, and said, "It is an accident and we need to find the facts."
Rajiv Pratap Rudy also expressed his deepest condolences to the family members of those who lost their lives in the plane crash. "This accident is terrible and heart-rending. 

I offer my deepest condolences to the family members of the captain and first officer, and the families of passengers who died and were injured," he said.

At least 18 people died when a plane carrying 190 passengers came from Dubai met with an accident at Karipur airport in Kozhikode on Friday evening, as per the Directorate General of Civil Aviation (DGCA).

"Eighteen people, including two pilots, have lost their lives. It is unfortunate. 127 people are at hospitals, others have been released," said Puri on the Air India Express flight that crash-landed on Friday evening.

Air India Express Dubai-Kozhikode IX-1344 flight, carrying 190 people on board from Dubai under the Vande Bharat Mission, skidded off the runway at Karipur Airport in Kozhikode at 7.41 pm on Friday in which several people sustained injuries.

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News Network
June 27,2020

New Delhi, Jun 27: Fuel prices were hiked by the oil marketing companies for the 21st day in a row on Saturday. Petrol and diesel will now cost Rs 80.38/litre and Rs 80.40/litre respectively in the national capital.

The price of petrol is increased by Rs 0.25 per litre while that of diesel by Rs 0.21 per litre.
Rates differ from state to state depending on the incidence of value-added tax (VAT).

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

The Congress party had called the increase in the price of petrol and diesel 'unjust', 'thoughtless' and demanded from the Central government to roll back increase with immediate effect and pass on the benefit of low oil prices directly to the citizens of this country.
In an official statement, the Congress Working Committee (CWC) had said that no government should levy and impose such unacceptable strain on its people.

Before the nation entered the lockdown, the average price of petrol and diesel in Delhi was Rs 69.60 per litre and Rs 62.30 per litre respectively.

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