Monday, 22 October, 2018

Petrol prices rise for 13th straight day; nearly Rs 86 in Mumbai

Reuters image Petrol prices go up every single day at store chains as more than 8p per litre is added to average pump prices in the past two months
Lloyd Bates | 29 May, 2018, 18:45

Similarly, diesel price in Kolkata was ruling at Rs 71.72 per litre today, which was up 14 paise against previous day's price of Rs 71.86 per litre.

Fuel prices on Monday touched a new high with petrol at Rs 78.27 and diesel at Rs 69.17 in Delhi. However, with global prices stabilising further hikes are now likely to be less in coming days.

Therefore, from May 14 till today, diesel prices have risen by Rs 3.38 per litre each in New Delhi and Rs 3.23 per litre in Kolkata. The most expensive is the Netherlands, where drivers pay £1.47 per litre of petrol.

Subsequently, the revenue collected will be used to pay retail majors like Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) to absorb the fuel price hike.

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At the same time, a "pre-advance" team was travelling to Singapore to meet with North Koreans, the White House said. He has had the summits with Moon and Chinese leader Xi Jinping, as well as two meetings with Pompeo.

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She said, "The speech that Harry gave was so amusing , self-deprecating, filled with love, and that guy just has her back". The comment also confirmed Wickstead does not believe the Givenchy gown was a copy of her own.

Samsung halts the Oreo update for the Galaxy S7 lineup once again
South Korean tech giant Samsung has confirmed that it will launch the Samsung Galaxy J6 with Infinity Display in India on May 21. The Samsung Galaxy A6 and the A6 Plus are mid-range devices and they are expected to be priced between Rs 20,000 - Rs 25,000.

The oil ministry has given its in-principle approval for futures trading in petrol as well as diesel and the final clearance from regulator Sebi should come soon, a top official of commodity derivatives exchange ICEX said on Monday amid rising fuel prices.

"Our analysis shows that at the current crude prices and extending our analysis to 19 states (overall consumption share is 93 per cent), the states could have gained at least an additional Rs 18,728 crore of revenue (in 2018-19)", said SBI's Ecowrap report. The opposition parties and people have been demanding a cut in Centre and state tax on fuels. Whereas, Mumbai and Chennai saw the most hikes - by as much as Rs 3.59 per litre and Rs 3.62 per litre respectively. However, Bihar Deputy Chief Minister Sushil Kumar Modi on Sunday said that "it is a big misconception (among the people) that price of petroleum products will be reduced significantly if they are brought under GST ambit". States charge value added tax that varies from state to state.

He said the decision was taken by the ministry after consultations with oil marketing companies and other experts.

Average UK forecourt prices are now at their highest since October 2014 at £1.26 per litre for unleaded and £1.30 for diesel, says RAC Fuel Watch, which blames a rise in the price of oil to more than 80 United States dollars plus a weakening of the pound.

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