Home » Finance

Petrol and diesel prices rise again, hit 3-week high

08 October, 2018, 08:38 | Author: Regina Silva
  • Petrol now cheaper by Rs 3 in Noida as compared to Delhi

However, diesel prices were cut by 70 paise in Mumbai and were sold at Rs. 76.75 per litre, a day after Maharashtra announced reduction in diesel prices by around Rs 4/litre.

Petrol is now retailed at Rs 81.82 per litre in Delhi, Rs 87.29 per litre in Mumbai, Rs 83.66 in Kolkata and Rs 85.04 in Chennai. "Kindly bring petrol and diesel under the purview of GST", he tweeted in Hindi. In the same period in 2016, the prices of the petrol and Diesel stood at around Rs 62 and Rs 50 and Rs. 66 and Rs 56 in Mumbai.

"For the reduction of Rs.1.56/litre in diesel prices, now don't squander Rs 1,500 crores in publicity, or people will be forced to shell out extra Rs. 10 to recover that", Munde added sarcastically.

On October 4, bowing to the demands of the general public which was largely condemning sustained fuel price hike, Centre announced a relief of Rs. 2.5 in total for consumers, of which Rs.1 has to be borne by the oil marketing companies (OMCs). After much chaos regarding the fuel rate, the government has made a decision to cut down the price of the fuel.

US ‘actively considering waivers on Iran oil sanctions’
It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Many analysts say they expect Iranian exports to drop by around 1 million barrels per day (bpd).


Marcus Smart Ejected After Scuffle with JR Smith
The two players will be able to renew acquaintances on November 30, when the Cavaliers travel to TD Garden to face the Celtics. Marcus Smart and JR Smith got into an altercation during a preseason game.


Congo fuel tanker collision kills 50 people - 100 others with serious burns
In another such incident in 2010, at least 230 people died after a fuel tanker overturned and exploded, reported The Daily Star . Matadi, at the other end of the highway, is on an estuary that leads to the Atlantic Ocean and is the DR Congo's sole port.


SBI Research suggests that "States can reduce petrol prices by Rs 4.60 a litre and diesel by Rs 3.30 on an average without affecting their revenue arithmetic as the Centre announced a Rs. 1.5 a litre cut on excise duty and asked the oil companies to offer a Re 1 cut on both the fuels".

Even though the central government and some BJP-ruled state governments reduced the prices by Rs 5 collectively, the results are not positive for the four metro cities, out of which, three are ruled by non-BJP governments. In Lucknow, every litre of petrol costs Rs 79.12, whereas the same amount of diesel is selling for Rs 71.28.

The hike in duties in 2014-16 had led to excise collections from petro goods rising from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18.

The BJP-government at the Centre had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by Rs 13.47 a litre in nine installments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October previous year by Rs 2 a litre.

Recommended:

  • ‘This won’t be subtle’: SpaceX West Coast launch will create sonic boom

    ‘This won’t be subtle’: SpaceX West Coast launch will create sonic boom

    SpaceX has previously launched a Falcon 9 from Vandenberg and landed it offshore in the Pacific Ocean aboard a droneship. The rocket will be carrying an Argentinian Earth-observing satellite, known as SAOCOM-1A, into orbit.
    Pete Davidson Bashes Kanye West On 'SNL's' 'Weekend Update'

    Pete Davidson Bashes Kanye West On 'SNL's' 'Weekend Update'

    He also countered West's claim that he was bullied backstage over wearing the MAGA hat: "He wore [the MAGA hat] all week . He joked about how the drugs that are used for mental health issues could be embraced in order to avoid such a situation.
    Melania Trump feeds baby elephants as Kenya visit begins

    Melania Trump feeds baby elephants as Kenya visit begins

    First Lady Melania Trump was nearly knocked down by a baby elephant on Friday while on safari in Nairobi National Park in Kenya. Mrs Trump also plans to visit the State House to meet over tea with Malawi's first lady Gertrude Mutharika.
  • Mbappe scores 4 and earns penalty as PSG crush Lyon

    Mbappe scores 4 and earns penalty as PSG crush Lyon

    OL should have equalised early in the second period, but Maxwel Cornet contrived to miskick with the goal at his mercy. Five minutes later, he drilled home the ball after it ricocheted around the Lyonnais penalty area.

    Brett Kavanaugh moves towards Supreme Court confirmation after long, bitter fight

    Throughout the day Saturday, hundreds of protesters - many dressed in black garb - descended on the east steps of the Capitol. The Senate Judiciary Committee confirmed his nomination on party lines, after which his nomination moved to the Senate floor.
    Hong Kong refuses to renew visa of Asia editor of Financial Times

    Hong Kong refuses to renew visa of Asia editor of Financial Times

    Reporters Without Borders called on Hong Kong authorities to reverse their decision. Chan equated Hong Kong's position under China to its former colonial past.
  • Melania Trump puts on happier face during Africa tour

    Melania Trump puts on happier face during Africa tour

    Quickly, people across the globe slammed her because the hat was similar to the one used by colonial masters in Kenya. On Brett Kavanaugh's confirmation: "I'm glad Dr.
    Van Dijk's verdict on penalty and City stalemate

    Van Dijk's verdict on penalty and City stalemate

    And we hope that they come back healthy and play these easy competitions, the Premier League , the Champions League and all this. He grew up as a player at Liverpool , he has good memories of his career there.
    Japan to skip South Korea naval event over flag row

    Japan to skip South Korea naval event over flag row

    Navy ships from 15 nations are scheduled to gather on South Korea's Jeju Island next week - for an global fleet review . It said it would fly the flag during the ceremony, but South Korea has opposed it, citing public sentiment here.
  • Study casts doubt on vitamin D supplements

    Study casts doubt on vitamin D supplements

    They also found that bone mineral density did not increase by a clinically significant level in those taking vitamin D . The conclusion follows one of the largest reviews ever of vitamin D .
    US Senate confirms Judge Brett Kavanaugh for Supreme Court

    US Senate confirms Judge Brett Kavanaugh for Supreme Court

    Senate for confirming our GREAT NOMINEE, Judge Brett Kavanaugh , to the United States Supreme Court". Two Republican waverers, Susan Collins and Jeff Flake, finally made a decision to back the judge.
    Hazard leads Chelsea past Southampton

    Hazard leads Chelsea past Southampton

    I really believe this whole methodology Sarri has brought to Chelsea is really helping Hazard reach his true potential. Hazard looks to break his best previous season best of 16 goals back in 2016/17, considering he's already scored six.


Popular

Food and Health, Millions of pounds of ground beef recalled
Since the JBS Tolleson recall was caused by salmonella , it may cause more fear for consumers buying any sort of meat. Several patients ate ground beef at the same events or purchased ground beef from the same grocery store chains.

Rock used as doorstop is actually a meteorite worth $100K
The space rock continued to perform that job for decades, only recently being identified as something very unique and valuable. The farmer claimed the rock had fallen in the 1930s and that the new owner could have it since it was "part of the property".

How to watch Packers vs. Lions
With their pedigrees, McCarthy would feel comfortable playing any of the three without any practice time . Cook rushed for just 20 yards on 10 carries in that Thursday night game, and played only 18 of 74 snaps.

McConnell: 'We're trying to win seats,' says GOP will still challenge Manchin
But after an 11th-hour investigation by the FBI into the allegations, enough wavering senators chose to back the nomination. When the vote was confirmed, Mr Trump delivered a double thumbs-up from his desk while several aides applauded.

Melania Trump slammed for 'colonial' fashion choice while visiting Africa
Image copyright Reuters Image caption The US First Lady's decision to wear a pith helmet on safari in Kenya has drawn criticism. The pair then went to the presidential palace to have tea, where Trump was also greeted by President Abdel Fatah al-Sissi.

Liverpool v Man City: City remain team to beat, says Klopp
Manchester City captain Vincent Kompany has warned Liverpool they are not the only to team to have got better since last season. Steven Gerrard says Rangers have blown the title race wide open after defusing Hearts' unbeaten start to the season .

New Doctor Who Surprises Fans In The Best Possible Way
He said: "It exceeds what I hoped we could achieve and that's because of a brilliant cast and crew". I, for one, can't wait! "Often with heroic characters I just think, that looks really sweaty".

UFC 229: Khabib Nurmagomedov v Conor McGregor
A melee broke out in the ring after Khabib climbed out of the Octagon to attack a member of McGregor's team who was mocking him. Asked by Joe Rogan why he did that, "Cos my balls was hot", was his response.

BC adds 33300 jobs in September, unemployment plummets
Statistics Canada's labour force survey compiled job data from July, August and September in all three Northern territories. Average hourly wages, a figure watched closely by the central bank, rose by 2.2 percent in September from a year earlier.

Three Palestinians killed as Israeli army fires on Gaza protests
One strike hit less than 50 meters away from two clearly marked press cars belonging to The Associated Press. Protesters set fire to tires, while Israeli forces opened live fire and tear-gas bombs.

Latest

Tendencies