Understanding the politics of fuel price

FM Arun Jaitley addressing a press conference at North Block in New Delhi

A day after slashing Value-Added Tax on petrol in Maharashtra, Chief Minister Devendra Fadnavis said here on Friday that even diesel prices will be reduced by around Rs 4/litre. The data shows that as of October 5, 2018, the prices of petrol and diesel in Delhi are Rs 81.50, reduction from Rs 84. However, diesel prices were only reduced by Rs 2.65 per litre to Rs 77.45 per litre.

The State Government this evening announced a matching cut of Rs 2.50 in the fuel prices commensurate with the price slash of Rs 2.50, announced by the Central Government earlier today taking the total succor to Rs 5 per litre in J&K.

But. Overall Price Can Be Reduced By Rs 5 Per Litre.

.

PM Modi, Vladimir Putin discuss strategic issues over one-on-one dinner
They are also likely to discuss certain issues of crucial importance, especially Russia's proximity to Pakistan. Nevertheless, an amendment to the act allows Trump to grant waivers on a case-by-case basis.

Petrol, diesel prices fell across the country on Friday with the government announcing a Rs 2.50 cut in the prices of both the fuels.

Jaitley said, "Excise duty will be reduced by Rs 1.50 and Oil Marketing Companies (OMCs) will absorb Rs 1". PM Modi consulted Union Finance Minister Arun Jaitley and Oil Minister Dharmendra Pradhan. After much chaos regarding the fuel rate, the government has made a decision to cut down the price of the fuel.

The new prices became applicable from Thursday midnight. Jaitley also urged state governments to further reduce VAT and other state-level taxes to further drop the price.

Texas surf resort closed for ‘brain-eating amoeba’ testing
Stabile returned to New Jersey and began suffering from a headache on September 16, according to the family's GoFundMe page . Once it travels through the nose it causes a devastating brain infection called primary amebic meningoencephalitis (PAM).

After Thursday's decision, ratings agency ICRA said in a report that oil marketing firms were likely to lose 72 billion rupees ($976 million) on fuel sales this fiscal year.

Accusing the government of taking people for a ride, Maharashtra Congress President Ashok Chavan said that instead of the Rs 5/litre assured by Fadnavis, the actual reduction is Rs 4.37/litre when pumps opened for business on Friday.

Tripura government has also slashed the prices of fuel. Petrol prices in Bengaluru were at Rs 82.32, whereas rates for diesel were at Rs 73.61. "The government has cut down borrowing this year by Rs 70,000 crore". At the same time, the prices of crude oil in the global market was $108 per barrel but the prices of the crude oil dropped to $77 per barrel at the start of November and further reduced to $36 in March, 2016. Absorbing this Rs 10,500 crore in increased collection and maintaining fiscal deficit I am confident we will be able to do that.

Britons facing European Union tourism fee post-Brexit
Mrs May's critics say such a proposal would make Britain a rule-taker with no say in forming future regulations. It delivers on the referendum.

Related news:

Hot News

isis-killer-beheading-video-story-top Pep Guardiola up for sixth Premier League Manager of the Month award
Oct 07, 2018 - 10:39
The move amounts to a back-me-or-sack-me plea, amid reports that he will be dismissed as manager after the game regardless of the result.

isis-killer-beheading-video-story-top Brett Kavanaugh: Key US senators back embattled Supreme Court choice
Oct 07, 2018 - 09:03
Some have had none. "Once I did that it started to sail through", Trump said. Yet none of that was enough to sway Republicans to oppose Kavanaugh.

isis-killer-beheading-video-story-top A Judge Wants Musk, SEC To Justify Fraud Settlement (NASDAQ:TSLA)
Oct 07, 2018 - 08:44
Within 45 days, an independent chairman will replace Musk , who will be ineligible for reelection for the next three years. The tweet appeared to jar investors, who drove Tesla shares down 2.4 percent in after-hours trading to $275.

isis-killer-beheading-video-story-top Amy Schumer, Emily Ratajkowski arrested while protesting Kavanaugh
Oct 07, 2018 - 08:36
The protesters were chanting, "Kavanaugh has got to go". "Let's keep showing up", Schumer told the crowd. Representatives for Schumer didn't immediately respond to INSIDER's request for comment.

isis-killer-beheading-video-story-top Trump, at Kansas rally, praises Kavanaugh, slams Democrats
Oct 07, 2018 - 04:12
Ford's testimony to be heart-wrenching, painful, compelling, and I believe that she believes what she testified to", Collins said. Murkowski announced Friday that she would be pairing her vote with Daines as a professional courtesy and a gesture of goodwill.

isis-killer-beheading-video-story-top Nokia 7.1 with 5.84-inch ‘PureDisplay’ HDR panel, Snapdragon 636 SoC launched
Oct 05, 2018 - 11:39
It's comprised of a 12-megapixel (f/1.8) sensor, and a 5-megapixel (f/2.4) sensor, complete with ZEISS optics and dual-LED flash. The new Nokia 7.1 follows the same design language as the X.1-series smartphones like the Nokia 5.1 Plus , and Nokia 6 .1 Plus.

isis-killer-beheading-video-story-top Tiebreak games needed to settle NL Central, NL West races
Oct 05, 2018 - 08:57
The AL Wild Card Game victor will square off against the AL East Champion Boston Red Sox at Fenway Park at 7:32 p.m. (ET). Colorado missed out on a first NL West title in a 5-2 loss at the Dodgers, then quickly scooted off for Chicago .

isis-killer-beheading-video-story-top Teenager Shaw's debut ton puts India on top
Oct 05, 2018 - 08:41
Shaw became India's second-youngest century maker after Sachin Tendulkar as he reached three figures early in the second session. India opener Lokesh Rahul was out in the first over for a duck, but Shaw and Pujara cruised, putting on 206 runs together.

isis-killer-beheading-video-story-top Last minute trade agreement is a 'hopeful' sign for ME dairy industry
Oct 05, 2018 - 08:28
The agreement reached would allow U.S. farmers greater access to the dairy market of Canada . We also remain concerned about the remaining steel and aluminum tariffs.

isis-killer-beheading-video-story-top May’s moves: How the papers reacted to Dancing Queen
Oct 04, 2018 - 13:57
While we here at Buzz find her dance moves hilarious some people don't quite agree with us. She even made a joke about it as she began her speech Wednesday.

isis-killer-beheading-video-story-top Yankees set all-time HR record
Oct 04, 2018 - 12:56
They've been head and shoulders the best team in baseball all year long, winning more games than any other team by a landslide. The Yankees hit four home runs to give them 264 for the season to tie the 1997 Seattle Mariners for the major league record.

isis-killer-beheading-video-story-top Brett Kavanaugh 'involved in bar brawl after UB40 gig'
Oct 04, 2018 - 10:57
After the show, Ludington said, the three young men went to Demery's, a bar popular with Yale students. Senators are preparing to vote on Kavanaugh as soon as late this week - and it's expected to be close.

isis-killer-beheading-video-story-top US Crude Oil Price Set to Stabilize at Higher Levels
Oct 04, 2018 - 07:01
USA weekly Midwest refinery utilization rates dropped to 78.9 percent, their lowest since October 2015, according to the data. Just a few days after the Algiers meeting, Trump blamed OPEC for high oil prices at the UN General Assembly in NY .

isis-killer-beheading-video-story-top Andrea Dossena Weighs In On Liverpool's Champions League Chances
Oct 04, 2018 - 06:57
Home goalkeeper David Ospina also reacted quickly to prevent Sadio Mane and Salah running on to through balls late on. His side sit a respectable second in Serie A having won five of their first seven games.

isis-killer-beheading-video-story-top Mixed early reactions to Tom Hardy's 'Venom'
Oct 03, 2018 - 12:28
Either way, it sounds like there will be some fun to be had with Venom , even if it's laughing at the movie for the wrong reasons. Like the others, Gleiberman was underwhelmed with Ruben Fleischer's direction, calling it "rotely impersonal".