Post-poll: Brace for up to Rs 5 and Rs 3 per litre raise in petrol, diesel prices

Agencies
May 8, 2019

New Delhi, May 8: Petrol and diesel prices may increase sharply soon after new government comes to power at the Centre with oil companies looking to raise the retail price of the two transport fuels between Rs 3-5 per litre in phases and make up for losses they incurred by keeping the prices at artificially low levels in the run up to elections 2019.

Government sources said that oil companies sold petrol at almost Rs 5 per litre discount and diesel at Rs 3 per litre discount in March and April when average crude oil price of Indian basket hit a high of about $ 67 a barrel and $ 71 barrel respectively. At this level of crude oil prices (of over $70 a barrel), petrol was priced at over Rs 78 a litre and diesel over Rs 70 a litre in August, 2018.

It is, however, priced at around Rs 73 and Rs 66.66 per litre now respectively suggesting that oil marketing companies (OMCs) losing again heavily on retail sale of the two products.

"Oil PSUs have avoided hiking oil prices in tandem with global crude rates for almost two months now and the pattern may well continue till the end of May when elections gets over. So, it would not come as a surprise if domestic oil prices witness a sharp spike after the election season comes to a close unless the new government issues fresh advisory to stagger the required hike to prevent a public outrage," said an energy sector expert of a global audit and consulting form who did not wish to be named.

OMCs have been soft on increasing petrol and diesel prices since the beginning of 2019 but it has become more pronounced from March when election dates were announced. Since March, there have been numerous days when both petrol and diesel prices have remained static despite sharp movement in global oil prices.

While experts term this a big loss for oil companies, officials in leading oil sector PSUs said that as the retail price of petrol and diesel are determined on the basis of global oil prices in trailing 15 day period and also as prices are determined on the basis of movement of international petrol and diesel prices and not crude oil, retail prices could remain static even through crude prices move.

While oil companies have built losses on sale of petrol and diesel by not carrying forward the requisite hikes during election time, they have not shied from passing any cut in retail price of the auto fuel when international crude price has shown some softening in the month of May. Petrol price has been cut by almost 7 paisa and diesel by 5 paisa since May 4.

"We have to remember companies like Indian Oil Corporation, Hindustan Petroleum, and Bharat petroleum are all government run companies. So even if petrol and diesel prices are, so called, freed from any administered control, government still continues to use its hold over the companies to get prices that they feel is right for a particular time," said an official source.

This is not the first time that government has controlled the price of petrol and diesel. During Karnataka state elections last year, petrol and diesel prices remained unchanged for a 19-day period despite rising global crude oil prices. And soon after polls, there was a non-stop 16-day hike period, resulting in an overall rise of approximately Rs 3.5 in both petrol and diesel rates.

The same trend was observed during the Gujarat elections in 2017 when oil PSUs had stopped revising/increasing fuel prices 14 days prior to polling.

* Average crude price (Indian basket) in August 2018: $ 72 a barrel

* Petrol price in August: Rs 78.5 a litre in Delhi

* Diesel price In August: Rs 70 a litre in Delhi

* Average crude price (Indian basket) in April 2019: $71 a barrel

* Petrol price in April: Rs 73 a litre in Delhi

* Diesel price in April: Rs 66.5 a litre in Delhi

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News Network
May 26,2020

Bengaluru, May 26: After Yogi Adityanath said that no state can take manpower from Uttar Pradesh without his government's permission, Karnataka Pradesh Congress Committee (KPCC) president DK Shivakumar on Tuesday termed the Uttar Pradesh Chief Minister's move as "unconstitutional" and "against the right to freedom of movement."

"Uttar Pradesh Chief Minister Yogi Adityanath's move to restrict hiring people of Uttar Pradesh is unconstitutional and goes against the right to freedom of movement. Mr Yogi, please note that UP is not the private property of your govt. The people of Uttar Pradesh don't need your government's permission to work anywhere in India," Shivakumar tweeted.

"Mr Yogi doesn't understand the basic rules of governance in a democracy. Such actions lack common sense and will only make the people of Uttar Pradesh suffer more. When it's convenient for BJP, it's One Nation, when it's not, it's different states and different people. Heights of hypocrisy," he added.

Adityanath had on Monday said that the state government will provide social security and insurance to labourers and no state can take manpower from Uttar Pradesh without his government's permission.

"If any state wants manpower, they cannot take our people from the state without our permission as there were reports of misbehaviour with them in other states. We are taking full responsibility for labourers' social security. We will provide every kind of security to them including insurance. Wherever they will go, we will always stand by them," Yogi said.

The Chief Minister said that skill mapping is being done in Uttar Pradesh and a commission will be set up for labourers to ensure employment for them.

On Sunday, Adityanath had ordered the formation of a 'Migration Commission' for the purpose of providing the workers, who have returned to the state during the lockdown phase, with employment suited to their skills.

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coastaldigest.com news network
July 25,2020

Mangaluru/Udupi, Jul 25: Karnataka’s twin coastal districts of Dakshina Kannada and Udupi recorded 400 new covid-19 cases and nine fatalities in past 24 hours. While DK’s death toll mounted to 115, Udupi’s toll mounted to 15.

Dakshina Kannada

Dakshina Kannada alone recorded 218 new covid cases and eight deaths. The total number of positive cases mounted to 4,612. Out of these, 2,370 cases are currently active. As many as 2,127 persons have recovered and been discharged.

Of the 218 who tested positive on Saturday, 46 are primary contacts, 87 have ILI symptoms, 15 have SARI symptoms, and contacts of 70 are being traced.

Among the eight deaths that occurred on Saturday, the first is of a 44-year-old man from Mangaluru. He was admitted to private hospital on July 23, and breathed his last on same day. He was suffering from sepsis with septic shock and viral infection. 

The second is 78-year-old man from Bhatkal. He was admitted to a private hospital on July 18, and passed away July 23. He suffered from refractory hypoxemia, refractory ARDS and secondary bacterial infection. 

The third is an 88-year-old man from Mangaluru. He was admitted to a private hospital on July 10, and passed away on July 23. He suffered from hypoxemia, refractory ARDS and renal failure. 

The fourth is a 68-year-old man from Bantwal. He was admitted to a private hospital on June 7, and passed away on July 23. He suffered from septic shock. 

The fifth is a 68-year-old man from Mangaluru. He was admitted to a private hospital on July 17, and passed away on July 23. He was suffering from ARDS and Acute coronary event. 

The sixth is a 75-year-old man from Mangaluru. She was admitted to private hospital on July 14 and passed away on July 24. He was suffering from refractory hypoxemia, refractory ARDS and respiratory distress. 

The seventh is a 76-year-old female from Mangaluru. She was admitted to private hospital on July 21 and passed away on July 24. She was suffering from refractory hypoxemia, refractory ARDS, viral pneumonia, T2 DM and hypertension. 

The eighth is a 53-year-old female. She was admitted to private hospital on July 24 and passed away on July 24. She was suffering from sepsis with multi-organ dysfunction, cardiogenic shock, hypertension, type 2 diabetes mellitus, peripheral vascular disease and diabetic foot on right side LRTI.

Udupi

Udupi recorded 182 new covid cases in past 24 hours and the total reached 3,218. As many as 2,008 patients have been discharged so far including 79 on Saturday, and 1,199 cases are currently active. 

Among the new cases, 96 are in Udupi, 37 in Kundapur, and 49 in Karkala. They include 109 men and 68 women, and two boys and three girls. As many as 539 are under home isolation.

As many as 15 covid related deaths have occurred in the district so far including the one on Saturday. 

45-year-old man from Kollur was admitted to KMC Hospital, Manipal, as he was suffering from lung cancer. He was tested positive for coronavirus and then shifted to covid-19 hospital, where he breathed his last.

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News Network
March 25,2020

Mangaluru, Mar 25: A full-fledged control room was set up at the Deputy Commissioner's office in Mangaluru to collect all information about the suspected patients.  

The control room will function under the guidance of KIADB special land acquisition officer.  

All the details on those who arrived from foreign countries via Mangalore Airport, via airports in other districts, primary and secondary contacts of the people who arrived from foreign countries are being compiled at the control room.

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