Petrol price cut by 95 paise per litre

November 15, 2012

petrolNew Delhi, November 15: State-owned oil marketing companies today cut the price of petrol by 95 paise per litre (minus state levies), effective midnight, Indian Oil announced.

The fuel will now cost Rs. 67.24 in Delhi, Rs. 73.53 in Mumbai, Rs. 70.57 in Chennai, Rs. 74.55 in Kolkata, Rs. 73.73 in Hyderabad and Rs. 74.22 in Bangalore.

Petrol prices were last revised on October 27, when they were raised by 29 paise after the government increased the commission paid to petrol pump dealers.

“Presently, international oil prices are relatively stable. However, there has been significant volatility in the rupee/dollar exchange rate and is currently very weak with uncertainty in its future direction,” Indian Oil said, adding that the trends will be monitored and reflected in future price revisions.

"There has been some reduction in gasoline rates (against which the domestic price of petrol is benchmarked) giving us some margins (on petrol). But they have moved up again in the last few days," R.S. Butola, chairman of Indian Oil, the nation's largest fuel retailer, said earlier this month.

The government had in June 2010 deregulated petrol prices giving oil companies freedom to fix rates in line with the cost. However, prices have seldom moved in line with cost and oil companies buckled under political pressure to keep rates checked to help the government manage inflation.

Mr Butola said Indian Oil lost Rs. 1,167 crore on selling petrol below cost during the first six months of the current fiscal year. Since the product is deregulated, there will be no subsidy support from the budget to cover these losses.

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News Network
June 18,2020

New Delhi, Jun 18: Prime Minister Narendra Modi on Thursday said he is "deeply grateful" for the overwhelming support shown by the global community for India''s membership of the UN Security Council.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

India garnered 184 votes out of the 192 ballots cast in the General Assembly to win the election for the non-permanent seat in the powerful Security Council.

India''s two year term will begin on January 1, 2021.

This is the eighth time that India will sit at the UN high-table, which comprises five permanent members and 10 non-permanent members.

"Deeply grateful for the overwhelming support shown by the global community for India''s membership of the UN Security Council," the prime minister wrote on Twitter.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

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News Network
February 27,2020

New Delhi, Feb 27: An Indian Air Force aircraft on Thursday evacuated 76 Indians and 36 foreign nationals from the coronavirus-hit Chinese city of Wuhan.

The C-17 Globemaster III transport aircraft was sent to Wuhan on Wednesday and it carried 15 tonnes of medical supplies for coronavirus-affected people in China.

On its return, the aircraft brought back 112 people, including 23 citizens from Bangladesh, six from China, two each from Myanmar and the Maldives and one each from South Africa, the US and Madagascar.

Earlier, India had evacuated around 650 Indians from Wuhan in two Air India flights.

“In all 723 Indian nationals and 43 foreign nationals have been evacuated from Wuhan, China, in these three flights,” the Ministry of External Affairs (MEA) said.

On the medical supplies delivered by India to China, the MEA said they would help augment the country’s efforts to control the coronavirus outbreak which had been declared as a public health emergency by the World Health Organisation.

“The assistance is also a mark of friendship and solidarity from the people of India towards the people of China as the two countries also celebrate 70th anniversary of establishment of diplomatic relations this year,” it said.

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Agencies
January 5,2020

New Delhi, Jan 5: Senior Congress leader P Chidambaram on Sunday sàid it was "shameful" that Sadaf Jafar, SR Darapuri and Pavan Rao were arrested by the Uttar Pradesh Police for violence without any evidence against them.

He also said that it was a shocking admission by the police that there is no evidence of their involvement.

"Sadaf Jafar, S R Darapuri and Pavan Rao Ambedkar released on bail after police ADMITTED no evidence of their involvement in violence. Shocking admission," he said on Twitter.

"If that were so, why did the police arrest them in the first place? And how did the Magistrate remand them to custody without looking at the evidence," he asked.
"The law says 'find evidence, then arrest'. The reality is 'first arrest, then search for evidence'. Shameful," Chidambaram tweeted.

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