Heena Sharma Blog

  The Parliament is all set to witness a confrontation between the government and the Opposition over raging issues of the COVID-19 pandemic , farmers' protest, fuel prices hike and vaccination strategy as its monsoon session will start from today. The monsoon session will conclude on August 13. "The sixth session of the 17th Lok Sabha will commence on July 19. Subject to exigencies of government business, the session is likely to conclude on August 13," a Lok Sabha release said. Rajya Sabha press communique stated that President Ram Nath Kovind has summoned the House to meet on July 19 and the session will continue till August 13. This will be the first session of parliament since the results of assembly polls in Assam, West Bengal, Tamil Nadu, Kerala and Puducherry. Last year, the monsoon session began in September and the winter session was not held due to the COVID-19 situation. Read More

  Petrol prices in Mumbai have been turning more volatile with the prices of crude oil showing a firm trend. On Thursday, the price of petrol in the city increased by 34 paise to Rs 106.59 per litre. The price of diesel in the city went up by 9 paise to Rs 97.18 per litre. Amid the lockdown caused by the Covid-19 pandemic , several state governments had increased fuel taxes to bolster revenues. The central government had also raised the excise duty on both the automobile fuels. Here are the current rates of fuel in different cities. Petrol price in Mumbai: Rs 106.59/litre Petrol price in Delhi: Rs 100.56/litre Petrol price in Chennai: Rs 101.37/litre Read More

  Under the new found preference for revising fuel prices every alternate day, the Oil and marketing companies (OMCs) raised the pump prices of petrol and diesel yet again on Tuesday. Accordingly, the price of petrol increased by 27 paise per litre to Rs 92.85 a litre in Delhi while diesel price increased a tad higher by 29 paise to Rs 83.51 a litre on Tuesday. Across the country as well the petrol and diesel prices increased between 25-30 paise per litre on Tuesday but its actual retail prices varied depending on the level of local levies in respective states. The OMCs are following the practice of changing petrol and fuel rates every alternate day rather than undertaking changes on a daily basis for past few days. Accordingly, the Tuesday's price hike came after there was no change on Monday. Read More

  Petrol and diesel prices on Tuesday were cut for the third time within a week on the back of softening international oil prices . Petrol price was cut by 22 paise per litre and diesel by 23 paise per litre, according to a price notification of state-owned fuel retailers. Petrol now costs Rs 90.56 per litre in Delhi and a litre of diesel comes for Rs 80.87. Rates have been reduced across the country and vary from state to state depending on the local incidence of taxation (VAT). In Mumbai, the petrol price was cut to Rs 96.98 a litre on Tuesday from Rs 97.19, while diesel rates were reduced to Rs 87.96 from Rs 88.20, the price notification showed. Read More

  Fuel prices in the country have remained steady for over a fortnight now even though global oil market remains volatile with regular variations in prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital here on Tuesday. Fuel prices have not been revised now for 17 days. Across the country as well, the petrol and diesel price remain unchanged. However, the pause has not helped in bringing down fuel prices that have crossed Rs 100 per litre (petrol) mark in several parts of the country. Since the beginning of February crude has gained more than $7 per barrel that pushed OMCs to increase fuel prices on 14 occasions raising the prices by Rs 4.22 per litre for petrol and by Rs 4.34 a litre for diesel in Delhi. Crude is now sitting at around $69 a barrel. The petrol and diesel prices have increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre, respectively so far this year. Read More

  The rise in the petrol and diesel price has paused for the last couple of days as oil marketing companies have decided to wait and watch the developments on the global oil market before finalising their India retail strategy. Accordingly, oil marketing companies kept the pump price of petrol and diesel unchanged on Monday. With this, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the national capital. Across the country as well the petrol and diesel prices remain unchanged. Sources in OMCs said that price pause on Monday followed subdued movement in product price in global markets. The crude oil, which has been on fire for the last couple of weeks has also shown some downward movement lately but staying above $65 a barrel now. Petrol and diesel prices have been rising continuously since February 9. In the 14 increases since then, prices have gone up by Rs 4.22 per litre for petrol while diesel rate has risen by Rs 4.34 a litre in Delhi. Read

  Petrol price on Wednesday remained stable at Rs 90.93 per litre in the national capital and diesel price unchanged at Rs 81.32, according to a price notification from oil marketing companies. In Mumbai, petrol price stood at Rs 97.34 per litre--the same as yesterday. In Chennai, petrol remained unchanged to sell at Rs 92.90. Diesel was retailing at Rs 86.31 in the city. In Bengaluru, petrol and diesel prices stayed at Rs 93.98 and Rs 86.21 respectively. Last week, petrol prices breached the Rs 90-a-litre mark to touch an all-time high of Rs 90.19 in the national capital after the rate was hiked by 31 paise. Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates. This stability has comes amid an outcry over record high fuel prices. Read More

  Petrol and diesel prices rose sharply by 25 paisa per litre on Thursday, second consecutive day of similar rise, after oil marketing companies decided to break the pause in price revision in wake of a sudden spike in global oil prices . Accordingly, in the national capital, petrol was sold at the new record high level of Rs 84.70 from previous days Rs 84.45 a litre while diesel prices increased to Rs 74.88 per litre as against Rs 74.64 a litre a day earlier. Across the country as well pump price of petrol and diesel increased on Wednesday but the quantum varied depending on the prevailing tax structure in each state. Auto fuel price rise was on hold for last five days after petrol and diesel prices had increased on two successive days last Wednesday and Thursday taking gasoline to record high levels in Delhi while keeping its prices very close to record high levels in other metro cities. It again rose yesterday by 25 paisa per litre. Read More

  Petrol price has maintained its rise with the fuel price increasing again on Friday, while diesel is holding on to its price line that it has maintained since July 30. In the international market, crude price has also remained firm with benchmark Brent crude hovering close to $ 46 a barrel. State-owned oil marketing companies on Friday increased the price of petrol by 11 paisa per litre in Delhi while 10 paisa per litre in Mumbai and Kolkata and by nine paisa per litre in Chennai. According to IndianOil website, petrol prices in Delhi, Kolkata, Mumbai and Chennai increased to Rs 81.94, Rs 83.43, Rs 88.58, Rs 84.91 per litre respectively. However, diesel prices are holding steady in these metros at Rs 73.56, Rs 77.06, Rs 80.11 and Rs 78.86 per litre. Petrol prices have now risen in 11 of the last 13 days and in the national capital it is now expensive by Rs 1.51 per litre during the period. Read More                 

Petrol price on Monday was hiked by 33 paise per litre and diesel by 58 paise to take retail rates to record high as the oil companies increased prices for the 16th day in a row. In 16 days, the petrol price has been hiked by Rs 8.3 per litre and diesel by Rs 9.46 - a record increase in rates of the fuel in any fortnight since pricing was deregulated in April 2002. Petrol price in Delhi was hiked to Rs 79.56 per litre from Rs 79.23 while diesel rates were increased to Rs 78.55 a litre from Rs 78.27, according to a price notification of state oil marketing companies. Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or value-added tax (VAT). Read More

The sharp hike in excise duty for auto fuels – petrol and diesel – is likely to add Rs 1.4 trillion to the government’s kitty, says the latest report by Barclays . The projection assumes that demand for both petrol and diesel will fall 12 per cent in FY20-21 as the economic activity in the country gets hampered on account of the Covid-19 related shutdown. Apart from the increase in central government taxes, several states and union territories, including Delhi, Haryana, Assam, Punjab, also have raised the state tax on fuel. This is likely to result in a modest rise in fuel prices to rise modestly, given that the increase in the government’s tax should not lead to higher fuel prices owing to the significant drop in crude oil costs through April. Read More

Fuel prices continued to fall across major cities, maintaining the decline after soaring to record high days back. Petrol and diesel are now being sold at Rs 78.06 per litre (decrease by Rs 0.15) and Rs 72.74 per litre (decrease by Rs 0.15), respectively in the national capital. In Mumbai, petrol and diesel prices are being retailed at Rs 83.57 per litre (decrease by Rs 0.15) and Rs 76.22 per litre (decrease by Rs 0.16), respectively. According to the revised prices issued by Indian Oil, petrol now costs Rs 79.98 in Kolkata and Rs 81.08 in Chennai. After the revision, diesel price has fallen below Rs 77-mark in Chennai. The fuel is being retailed at 76.89 per litre in the city. In Kolkata, diesel now costs Rs 74.60 per litre on Friday. Fuel prices had earlier witnessed a relentless hike in the country, burning a hole in the commuter's pocket. Read Complete Article Business Standard

There's no denying the fact that a hike in fuel prices , especially diesel which is a key transportation fuel, affects the prices of groceries making commodities of daily use expensive for the masses. But there's another way that a surge in fuel prices is likely to have an impact on your pocket. ALSO READ: With consecutive hikes, petrol crosses Rs 90-mark in Maharashtra's Parbhani According to the ET report, diesel cost forms seven to eight per cent of the total revenue of a telecom company and a continuous hike in its price is likely to have an impact on the company's Ebitda margins in the July-September period. Telecom industry is the second largest buyer of diesel after the Railways and spends nearly Rs 90 billion on it on an annual basis. The dip in margins is another hit for the telecom industry which is reeling under the pressure of nearly Rs 8 trillion of debt, ET reports, caused by a price war started with the entry of Reliance Jio into the sector. Rea