Citing falling crude oil rates, opposition leaders in Karnataka have demanded that the government bring down prices of petrol and diesel, to ease the burden on the common man.
The Modi government’s excuse that international crude oil prices are the reason for the increase in fuel prices has once again been proven wrong, remarked Rama Rao.
Techies who have moved to Bengaluru after working in other countries, are demanding spaces to walk and cycle.
However, cost pressures on fuel and foreign exchange prevented us from translating this strong revenue performance into net profitability.
Indian Oil Corporation reports first loss in two years; sold petrol at Rs 10 per litre loss, diesel at Rs 14
This is the first quarterly loss in over two years. The company had reported a net loss in January-March 2020, but that was on account of inventory losses on processing costlier crude.
Union Minister of Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal has also asked the state governments to lower VAT on diesel used by the shipping sector, the statement said.
Many incidents of violence have been reported at fuel queues and nearly 20 people have died of exhaustion after spending several days continuously in the fuel queues.
A rise in demand for fuels can be attributed to an increase in mobility and the reopening of the economy post the Covid pandemic.
The selection would be based on the ability to import without forex requirements from the Sri Lankan central bank, he added.
On Sunday, petrol price was hiked by LKR 50 and diesel by LKR 60 respectively, the third price revision in just over two months.
Power Minister Kanchana Wijesekera requested citizens not to line up for fuel and announced the closure of refinery operations till the arrival of the next shipment of crude.
The central government had on May 21 cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 to give relief to consumers battered by high fuel prices.
Jet fuel prices on Wednesday were reduced by 1.3% by the oil marketing companies (OMCs), after 10 rounds of price hikes.
BJP Tamil Nadu president K Annamalai on Tuesday announced that his party would level two corruption charges against the DMK government within a few days.
State fuel entity officials raided the station and ordered the entire stock of fuel to be released at the pre-increased prices.
Chidambaram on Sunday wondered whether the states can afford to give up revenue from the Value Added Tax on petrol and diesel unless the Centre devolves more funds or gives them more grants.
Taking to Twitter, Sitharaman said she is sharing some useful facts on levies on petrol and diesel for the benefit of all.
It accused the BJP of resorting to "trickery" to create an "optical delusion'' and said the people deserve genuine relief from the "record inflation".
In fact, prices of some of the vegetables in the state including tomato were above Rs 100 a kilo, OPS said, adding the DMK was duty-bound to fulfill its poll promises.
The Indian government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battered by high fuel prices.