• News
  • Global

Petrol in Patna breaches Rs 83 mark

Petrol in Patna breaches Rs 83 mark

Presently, petrol and diesel prices hike is mainly in the Delhi, Mumbai and Chennai cities. Petrol breached the Rs 80 mark in other cities including Hyderabad (Rs 82.07), Jalandhar (Rs 82.71), Srinagar (81.86), Trivandram (81.62), Chennai (80.42), Gangtok (80.5), Bhopal (83.08), Patna (82.94), Kolkata (80.12) and Jaipur (80.24).

As on date, taxes account for half of the price consumers pays for petrol and diesel.

The prices of Brent crude was seen at $79.19 a barrel at one point on Wednesday, while the Indian basket crude oil prices was seen at $78.10 a barrel.

It is known fact that the crude oil prices determine the fuel rates in our country.

Rising pump prices are already adding to inflationary pressure and are strengthening the case for a rate hike.

Currently, the fuel prices are varying from state to state as the prices of fuel and diesel also depend on the local sales tax or VAT (value added tax).

With fuel prices seeing 13 revisions since last November, the price of fuel has today reached the amount that existed before the government announced the reduction. But the risk of them (oil producing companies) being asked to once again bear a part of the subsidy is looming with the recent rise in global oil rates, Moody's said in a report. If it (petrol and diesel) can be brought under GST, rates will come down. Well the taxes, dealer commissions have more than doubled.

The price of petrol was hiked by 36 paise and diesel was hiked by 24 paise today according to Indian Oil Corporation Ltd. data. At present, petroleum products are included under the goods and services tax (GST), in line with amendments to the Constitution.

He said diesel prices in diesel prices are falling in several States, but not in Telangana due to wrong policies of TRS Government.

He said that the Telangana Government has increased the burden to tune of ₹ 3,025 crore on common by increasing taxes on petrol and diesel.

Oil and gas sector analysts have over the past week said fuel prices will go up by an additional Rs 4 per litre as the Oil Marketing Companies (OMCs) try to recover their marketing margins, which came under pressure when OMCs collectively initiated a price freeze for 19 straight days before the Karnataka elections.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Harvey Weinstein surrenders to police, faces rape charges

Once inside, Weinstein was charged with one count each of first- and third-degree rape , as well as first-degree criminal sex act. He is expected to be taken to Manhattan Criminal Court later later on Friday to be arraigned on charges, U.S. media reports.

These Democratic women just won primaries in red states

The few exceptions to this rule helped confirm it in the minds of many southern white Democratic political professionals. Trump carried Georgia in 2016 by five points over Hillary Clinton , and Republicans control every statewide office.

Arizona Women's Golf Wins the 2018 National Championship

The victory earned Arizona a spot in the Marathon Classic to be played on July 12-15 at the Highland Meadows Golf Club in Ohio. Filipina golfer Bianca Pagdanganan helped rejuvenate the Wildcats from match-play hopefuls into championship contenders.

Cobb gas prices surge as summer begins

With a 6.8 percent increase over last year, air travel is the mode of travel that will see the largest growth this year. For those planning to kick off their summers with an overseas vacation, Europe is a major draw this year.

NFL Kneeling Rule Disrespects Players; Subverts Democracy to Placate Autocrat

Despite the Trump administration's celebrations on Twitter , however, the rule may not be the end of kneeling protests. Donald Trump has said athletes who don't stand for the United States national anthem should get out of the country.

Impressive Simon Yates on the cusp of securing Giro d'Italia glory

SIMON YATES retained the overall lead in the Giro d'Italia as Elia Viviani claimed his fourth stage of the race yesterday. It only changes my tactics for the coming days. "Unfortunately for the fans I can be a lot more defensive".

Your guide to Memorial Day events in Eastern Iowa

The bell honors and supports veterans, and Marion Post 298 is in possession of the memorial tribute for this holiday weekend. Here are some great events in Minnesota to honor those who have lost their lives for our freedom this Memorial Day weekend.

A closer look at 10 arrested Saudi women's rights activists

They have been branded as traitors by the Saudi government and absurdly charged with working with foreign entities to destabilize the kingdom.

Bjorn names Westwood, Harrington, McDowell and Donald as Ryder Cup vice-captains

For Harrington, it's a role he's held before and he hopes that experience will count come September. They join Robert Karlsson, who was previously named as a vice-captain by Bjorn.

USA disinvites China from Pacific military exercises: Pentagon

Hours after the Fox report was published, the Pentagon a issued statement disinviting China from this year's RIMPAC exercise. In the Pentagon's Wednesday statement, it accused Xi of going back on his promise not to militarize the South China Sea.