Petrol price cut by 21 paise; total reduction reaches Rs 4.05 in 18 days

Agencies
November 4, 2018

New Delhi, Nov 4: Petrol price has been cut by over Rs 4 per litre and diesel by Rs 2.33 in the last 18 days on softer international rates, a pace faster than the spike in prices witnessed in the two-month period beginning mid-August. 

Petrol price Sunday was cut by 21 paise a litre and diesel by 17 paise, according to a price notification issued by state-owned fuel retailers. 

In Delhi, petrol now costs Rs 78.78 per litre while diesel is priced at Rs 73.36, it said. 

Petrol in Mumbai costs Rs 82.28 and diesel Rs 76.88. 

With this, the reduction in rates in last 18 days now totals Rs 4.05 per litre for petrol and Rs 2.33 for diesel. 

Rates have been on the decline since October 18. 

Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. 

Prices had started to climb from August 16. 

Petrol in Delhi was priced at Rs 77.14 and in Mumbai at Rs 84.58 per litre on August 15. Diesel on that day was priced at Rs 68.72 per litre in Delhi and Rs 72.96 in Mumbai. 

Between August 16 and October 4, petrol price was hiked by Rs 6.86 per litre and diesel by Rs 6.73. 

On that day, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise the price by another Re 1 a litre by reducing their margins. 

Subsequent to this, the petrol price came down to Rs 81.50 per litre in Delhi and diesel to Rs 72.95 a litre on October 5. In Mumbai, rates fell to Rs 86.97 per litre for petrol and Rs 77.45 in case of diesel. 

As the international oil prices continued to rise, price of petrol and diesel in Delhi increased to Rs 82.83 and Rs 75.69 on October 17. In Mumbai, rates touched Rs 88.29 a litre for petrol and Rs 79.35 for diesel. 

But since then, international oil prices have been falling and rupee has also appreciated, resulting in decline in retail rates. 

Industry sources said as per the assessment, the retail prices of petrol and diesel may reign easy in the next few days. 

The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. This is because a large proportion of country's requirement is met through imports.

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News Network
February 6,2020

Beijing, Feb 6: The number of confirmed fatalities from China's coronavirus outbreak rose to at least 560, after authorities in hardest-hit Hubei province reported 70 new deaths on February 6.

In its daily update, the health commission in Hubei also confirmed the number of confirmed infections in the outbreak has reached 28,018 nationwide with 3,694 new cases reported.

The epidemic, which has spiralled into a global health emergency, is believed to have emerged in December from a market that sold wild game in Hubei's capital Wuhan.

Hu Lishan, an official in Wuhan, warned Wednesday that despite building a hospital from scratch and converting public buildings to accommodate thousands of extra patients, there was still a "severe" lack of beds in the region.

There was also a shortage of "equipment and materials," he told reporters, adding that officials were looking to convert other hotels and schools in the city into treatment centres.

Authorities in several other cities in China have placed restrictions on the number of people allowed to leave their homes.

Global concerns have also risen about the virus, with cases confirmed in more than 20 countries.

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Agencies
May 23,2020

New Delhi, May 23: India will try to restart a good percentage of international passenger flights before August, Civil Aviation Minister Hardeep Singh Puri said on Saturday, three days after announcing resumption of domestic flights from May 25.

All scheduled commercial passenger flights have been suspended in India since March 25 when the Modi government imposed a lockdown to contain the novel coronavirus pandemic.

"I am fully hopeful that before August or September, we will try to start a good percentage of international civil aviation operations, if not complete international operations," Puri said during a Facebook live session.

"I can't put a date on it (restarting international flights). But if somebody says can it be done by August or September, my response is why not earlier depending on what is the situation," he said.

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Agencies
June 16,2020

As the Indian workforce navigates a shrinking job market in lockdown times, two in five professionals believe that the number of jobs and scheduled interviews will decrease in the next two weeks, a new LinkedIn survey said on Tuesday.

The news comes as bittersweet for Indian professionals as more than one in three stated they will now spend more time working on their resumes and preparing for interviews.

Professionals from healthcare, manufacturing and corporate service industries anticipate a decrease in personal spending and personal investments in the next six months, according to the findings of the fortnightly LinkedIn Workforce Confidence Index based on responses from 2,903 professionals in the country.

This findings showed that while India's overall confidence remains steady, the country's confidence in jobs is beginning to trend downward.

However, employees at large enterprises (firms with over 10,000 workers) are more confident about the future of their employers when compared to their peers from mid-market and SMB companies.

The findings showed that 41 % of enterprise professionals think their companies will do better in the next six months, while 63 % think their companies will be better off one year from now.

However, "the enterprise professionals are least confident about the future of their jobs, finances and careers, when compared to their SMB and mid-market peers".

The findings showed that 52 % of healthcare, 48% of corporate services, and 41 % of manufacturing professionals anticipate a decrease in investments in the next 6 months.

Over the past three months, many organizations have shifted to a remote working model to circumvent the pandemic and ensure business continuity.

Three in five marketing professionals feel confident about being effective when working remotely, joined by more than half of project management and engineering professionals, who are also confident about the effectiveness of remote working.

In contrast to this optimism, only 39 % of HR, 36% of finance, and 31 % of education professionals think they would be effective when working remotely, said the survey.

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