Petrol, Diesel prices hiked 48 hours after Karnataka Elections 2018

Petrol and diesel prices were raised on Monday after an unofficial 19-day freeze that mysteriously melted no sooner than the Karnataka polls had ended.

Karnataka voted on Saturday for a new assembly and the results will be announced on Tuesday. According to reports, these oil firms have believed to have encountered a loss of Rs 500 crore as they absorbed the higher global rates in the run-up to polling activity in Karnataka Assembly Elections.

Petrol price in Kolkata today: While in Kolkata, petrol price stood at Rs 77.50 per litre up by 17 paisa compared to previous day price of Rs 77.32 per litre.

Indian state fuel retailers raised diesel and petrol prices on Monday to their highest in almost five years, data from the country's biggest fuel retailer shows. More taxes on petrol and diesel, more burden on the consumer.

With this, diesel prices have touched a record high while petrol reached a 56-month peak.

Mancini Becomes Italy Head Coach
He succeeds Gian Piero Ventura , who was sacked in November after Italy missed out on the World Cup for the first time since 1958. It will be a first role in global management for Mancini, who has left Russian club Zenit St Petersburg to take up the post.


PSU oil firms on Monday began passing on the spike witnessed in worldwide rates to consumers. Before this, Companies did not increase the prices of petrol and diesel since April 24. Benchmark worldwide rate for petrol during this time went up from $ 78.84 per barrel to $ 82.98, while diesel rates during this period have climbed from $ 84.68 per barrel to $ 88.63.

Interestingly, Brent crude oil prices increased by about $3 (Rs 200) per barrel during the period when fuel prices in India remained unchanged. The rupee steadily weakening against the dollar only makes matters worse. On April 24, 2018, the price of petrol in Delhi was 74 rupees 63 paise per liter.

State-owned oil companies in June last year dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost.

OMC including Hindustan Petroleum Corp Limited (HPCL), Indian Oil Corp (IOCL) and Bharat Petroleum Corp Limited (BPCL), decide the final retail petrol price by taking into consideration the worldwide crude basket, plus states' Value Added Tax (VAT) and the government's excise duty. "The government wants to control the price hike but there are too many things which control the hike in prices", said Anila Singh of the BJP on Mirror Now. With the United States reimposing sanctions on Iran, global oil prices are unlikely to come down any time soon.

A litre of Super petrol in Mombasa will cost Sh103.88, diesel Sh95.35 and Kerosene at Sh75.44.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

UNCG softball team to face SC on Friday in NCAA tournament
The Sooners will also play Tulsa, who was just three outs from ending the Sooners' season at last year's NCAA Regionals . The last time the Tigers went on the road for a Regional in 2014, they lost the decisive final game to host Minnesota.

Chennai Super Kings vs Sunrisers Hyderabad
Not only was the 123-run stand broken, but Hyderabad also slipped to 141 for 3 in the 17th over, with two new batsmen in. Sunrisers Hyderabad , on the other hand, have had a near-perfect run in IPL 2018, thanks largely to their bowling attack.

VIRAL: Officer puts man in chokehold inside Waffle House after prom
It is unclear whether the officer, who has not been identified, remains on duty while police investigate his use of force. According to ABC 11 , Anthony Wall was at the Waffle House on May 5 after escorting his 16-year-old sister to prom.

Jamaal Lascelles: Newcastle must do everything to keep Rafa Benitez
But still without a call-up, and with Southgate's squad announced on Wednesday, Lascelles accepts the manager has his chosen defenders.

Apple Macbook Pro Keyboard Defect Lawsuit Investigation
Plaintiffs complain that when debris or dust reaches a key, it causes the keyboard to become unresponsive to keystrokes. It continues saying 'When the MacBook's butterfly keyboard fails, the keys stick and no longer register keystrokes.

Multiple blasts as Afghan security forces battle attackers for hours
Afghan security forces surrounded the area and were still battling the gunmen hours after the initial explosions. No one had claimed responsibility for the attack at the time of filing this report.

Santa Barbara District Attorney Files Murder Charges Against Golden State Killer
The charges also special circumstances of murder during the commission of rape and burglary, as well as the use of a firearm. DeAngelo already faces charges in Sacramento, Orange and Ventura counties, where he allegedly terrorized victims for years.

MP Board Class 10, Class 12 Result 2018 Today
The girls performed better with 72.38% clearing the Class 12 exams a year ago , while the boys pass percentage was at 64.16. Students accessing the websites from their mobile or laptop can check the results on the official website mentioned above.

Manyonga soars in Shanghai
The men's 800m produced a breakthrough victory for another young Kenyan, Wycliffe Kinyamal, in a meeting record of 1:43.91. South Africa's long jump sensation Luvo Manyonga proved too strong for the rest of the field in Shanghai on Saturday.

19 people killed in clash between Myanmar army, ethnic rebels, says Military
Reverend Hkalam Samsun, chairman of the Kachin Baptist Convention, said the Kachin people were "disappointed" with Suu Kyi. Suspected ethnic minority insurgents have launched attacks in eastern Myanmar, leaving 19 people dead and 29 wounded.

White House Declines to Condemn Aide's McCain Remark
Doug Ducey can opt to appoint a senator to serve until a special election can be held in 2020. In 1967, while flying a mission over North Vietnam, his plane was shot down.

Iraqi air force destroys Islamic State command center in Syria
Sadr leads the al-Sairoon Coalition (The Marchers) that brings together his Sadrist Movement and the Iraqi Communist Party . A Pentagon spokesman told Eric Pahon that the USA government does not support any particular Iraqi candidate or party.

Ceremony to Honor Law Enforcement Set for Thursday
Police Week 2018 is here and FOX59 is in the nation's capitol to highlight several great events. Aaron Allan visited the National Law Enforcement Memorial to view her husband's name.

Cyprus makes it through Eurovision semi-final, favourite to win
The Czech Republic's Mikolas Josef has progressed to Saturday's final of the Eurovision Song Contest in Lisbon. Ryan O'Shaughnessy, 25, will take to the stage tonight for the first of the competition's semi-finals.

Iranian FM Zarif In Moscow To Meet Lavrov On Nuclear Deal
On Sunday US Secretary of State Mike Pompeo said Washington still wants to work with Europe to counter Iran's "malign behavior". The U.S. decision reignited the danger of economic crisis for Iran, which is now at the center of Tehran's diplomatic efforts.


More News

News
More News