Thursday, 20 September, 2018

Delhi High Court refuses to interfere on plea over fuel price

In the past one month prices of diesel have increased by nearly Rs 4 per litre and that of petrol by Rs 3 per litre In the past one month prices of diesel have increased by nearly Rs 4 per litre and that of petrol by Rs 3 per litre
Laurie Berry | 12 September, 2018, 23:15

President Sanjay Deshmukh told IANS that while petrol was almost touching the psychological barrier of Rs 90 per litre (at Rs 89.97), diesel prices stood at Rs 77.92 on Monday. All other opposition parties took part in the bandh.

Meanwhile, Maharashtra minister of state for home and finance Deepak Kesarkar said chief minister Devendra Fadnavis is looking at all possible options to reduce the rise in petrol and diesel prices.

Domestic fuel prices continued their northward push on Tuesday with a depreciating rupee and expensive crude oil further pushing petrol and diesel to new record highs.

A petitioner had challenged the daily rise in fuel rates and sought a direction to the Centre to fix a fair price for petrol and diesel by treating them as essential commodities.

Woodward: Mattis, Kelly denials of his book quotes on Trump untrue
Woodward's book, titled Fear: Trump in the White House , has been highly anticipated ahead of its Tuesday release. Woodward explains: McMaster, he says, "understood the strategic importance of India, a sworn enemy of Pakistan".

CM Chandrababu Naidu announced cut-off in petrol and diesel prices by Rs 2 in Andhra Pradesh, after Vasundhara Raje in Rajasthan on the day nationwide shutdown called by oppositions. Diesel rate touched its highest level of Rs 72.61 a litre.

"The statement given by the Government that it has no role in fixing the fuel price is a misleading statement because the oil companies are fixing the price of petrol and diesel with the implied consent of the Government itself". For example, Maharashtra (39.12 percent per litre) has the highest rate of Value-Added Tax on petrol and Goa (16.66 percent per litre) the lowest.

AP is the second state to do so in recent times after Rajasthan. "This increase in petrol and diesel prices is likely to give the states a windfall gain of around Rs 227 billion over and above the budget estimates for current financial year", SBI Research said. "Alternatively, a $1/barrel increase in oil prices translates, on average, to a Rs 1,513-crore revenue gain for all the major 19 states", it mentioned. The VAT is now reduced to 26 percent from 30 percent which would be close to a Rs 2.5/litre drop from Sunday's prices.

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