23
Monday
July 2018
9:04 AM IST
News Headlines
Congress to set up group on alliances: Rahul        Prepare To Fight 2019 Alone, Amit Shah Tells BJP On Rift With Shiv Sena        Money laundering scam: Zardari declared absconder by FIA        Afghan vice president Dostum escapes blast on return from exile        Sri Lanka close in on whitewash of S. Africa        Hamilton regains title lead after stunning German win        Fakhar Zaman becomes first Pakistani to hit ODI double ton        Govt slashes GST rate on several products        Third party insurance for two, four-wheeler be made mandatory: Supreme Court        Supreme Court stays Madras HC order awarding extra marks to NEET Tamil candidates        Trump invites Putin to White House in the fall        Zimbabwe vs Pakistan: Fakhar Zaman scores double century in record partnership with Imam-ul-Haq to breeze past hosts        Modi Govt Gets AIADMK Boost as No-Trust Vote Turns Into Show of Strength for 2019        IOC adds 7 medal events to 2022 Beijing Winter Games program        Indian outplay New Zealand 4-2 in hockey series opener        Samsung, Xiaomi corner 60 pc share of India's smartphone mkt in Q2: Canalys        Indo-Pacific must be free, open and and inclusive region: Swaraj        Indian man shot dead in Canada, two suspects arrested        Trump says looking forward to 'second meeting' with Putin        Mob-lynching cases: Govt asks WhatsApp for solutions beyond labelling forwards        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Main News
Petrol prices hiked: Rs 79 per litre in Mumbai, at highest since August, 2014
 
The Indian basket of imported crude oils gained nearly $3.50 a barrel during last week even as petrol prices in the country touched their highest levels since Prime Minister Narendra Modi assumed office three years ago, official data showed on Monday.

The Indian basket, comprising 73% sour-grade Dubai and Oman crudes, and the balance in sweet-grade Brent, closed trade on the weekend on Friday at $53.63 per barrel, according to the petroleum ministry. The oil basket had gained over a dollar at the start of last week on Monday to close at $51.34 for a barrel of 159 litres.

Meanwhile, under the daily revision of fuel prices, petrol in Mumbai on Monday cost Rs 79.41 a litre, breaching the level it last touched in August, 2014.

Petrol price was hiked by 13 paise a litre and diesel by 25 paise per litre, applicable from 6 am on Monday. Petroleum products do not come under the Goods and Services Tax (GST) and prices vary at locations according to state taxes.
Read more

On Monday, petrol per litre cost Rs 70.30 in Delhi, Rs 73.05 in Kolkata and Rs 72.87 in Chennai.

Similarly, diesel price on Monday was Rs 58.62 in Delhi, Rs 61.27 in Kolkata, Rs 62.26 in Mumbai and Rs 61.73 in Chennai.

Earlier this month, Petroleum Minister Dharmendra Pradhan said the dynamic pricing regime would continue despite petrol prices going up by over Rs 7 per litre since the scheme was introduced pan-India from mid-June.

He said dynamic pricing ensures that the benefit of even the smallest change in international oil prices can be passed down the line to the dealers and the end-users.

“Daily revision in prices is good. When we started daily revisions on June 16, rates dropped in the first fortnight. Thereafter, it has increased mainly because of rise in global oil prices,” he said.

Daily revision allows any fall in international oil rates to be passed on to consumers immediately rather than having to wait for 15 days as in the old system, he added.

“Should prices be hiked by Rs 2.50 or Rs 3 per litre in one go or they should be spaced out in small doses,” he asked.
Read more


Earlier, the state-run oil marketing companies used to review and revise retail fuel prices every fortnight on the basis of global crude oil prices, while the revision took effect from midnight.

Dynamic fuel pricing is followed in many developed countries and India opted for it as a response to the recent volatility in global crude oil prices.

The basket of crude oils of the 13-nation Organisation of Petroleum Exporting Countries (OPEC) breached the psychologically-important $50-a-barrel-mark also last week, to close at $50.36 a barrel on September 4. As per latest data, the OPEC basket closed on Friday at $52.53.

Last month, two of OPECs biggest members -- Saudi Arabia and Iraq -- expressed their commitment to abide by an agreement to cut oil production that was signed earlier between OPEC and 10 other nations.


Congress to set up group on alliances: Rahul
Govt slashes GST rate on several products
Modi Govt Gets AIADMK Boost as No-Trust Vote Turns Into Show of Strength for 2019
Centre Forcing AgustaWestland Middleman To Frame Sonia Gandhi: Congress
Women have constitutional right to enter Sabarimala temple: SC
Court's duty to strike down law if it violates fundamental right: SC
Mamata govt runs syndicate raj, says Modi; TMC hits back
France clinches World Cup with win over Croatia
Social media hub like creating surveillance state: SC
Discrimination against gays will go if criminality of section 377 is removed: SC
Telecom Comm approves net neutrality, new telecom policy
All 12 boys and coach rescued from Thai cave
Samsung opens world's largest mobile phone factory in Noida
PNB's big wilful defaulters' dues fall to Rs 15,354 cr in June
Several Congress leaders are on bail, party is a 'bail gaadi': PM
Once again, Supreme Court upholds Chief Justice of India as 'Master of Roster'
Make match-fixing criminal offense: Law Commission of India
CM Kejriwal directs officers to speed up AAP govt projects after SC verdict
SC restrains States and UTs from appointing acting DGPs
India can play a major role in 'unstable world' to achieve peace: PM Modi
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel  
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
INTERNATIONAL NEWS
Money laundering scam: Zardari declared absconder by FIA
 (Karachi, July 22, 2018):Former Pakistan President Asif Ali Zardari and his sister Faryal Tal
Afghan vice president Dostum escapes blast on return from exile
Trump invites Putin to White House in the fall
Indian man shot dead in Canada, two suspects arrested
NATIONAL NEWS
Prepare To Fight 2019 Alone, Amit Shah Tells BJP On Rift With Shiv Sena
 (Mumbai, July 22, 2018):BJP president Amit Shah told party workers in Mumbai today that they
Supreme Court stays Madras HC order awarding extra marks to NEET Tamil candidates
Mob-lynching cases: Govt asks WhatsApp for solutions beyond labelling forwards
Unidentified 'intruder' killed at Indo-Pak border: official
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.