Petrol, diesel prices hiked after Karnataka elections

Fuel prices revised petrol diesel to cost more

Fuel prices revised petrol diesel to cost more

The revision in petrol and diesel prices comes just two days after voting was held for the Karnataka assembly election. Meanwhile in Kochi, the price of petrol has become Rs. 77.52 per litre, while that of diesel is Rs. 70.56 per litre. It is worth mentioning since June 16, 2017, prices of petrol and diesel are being revised daily. "Even though product prices needed to be increased between Rs 2and Rs 3 per litre since then due to global developments", said an oil sector analyst asking not to be named. On April 23, the day before the last change in the prices of fuel in India, crude oil prices were around $74.50 per barrel. 63 while diesel rates were increased to Rs 66.

The NDA government has been criticised for the significant and frequent hikes in the prices of petrol and diesel, with several politicians calling for fuel to be included under the Goods and Services Tax (GST) from which it is now exempt.

The prices remained constant despite fluctuations in worldwide crude rates.

However, their mysterious inaction in the last 20 days had led to speculation that the Union government was leaning on the companies to keep the rates unchanged so that the Bharatiya Janata Party could gain an advantage in the Karnataka election. The sanctions have been renewed on Iran at a time come when the supply is already down considering high demand and output restraint by the Organization of the Petroleum Exporting Countries (OPEC) for pushing petrol prices up.

The government, for its part, has maintained that it does not interfere with the pricing of petrol and diesel.

"A duty cut is the only option if spike in global crude oil price and product prices results in sharp rise in price of petrol and diesel for Indian consumers".

However, a global rally in crude prices pushed domestic fuel prices far higher than those levels.

The Centre's Narendra Modi government had announced it was freezing the prices of petrol and diesel on 1 May even though benchmark worldwide rates have gone up by nearly $2 per barrel.

Recommended News

  • Tigers split doubleheader against Mariners

    Tigers split doubleheader against Mariners

    A few of them, such as Chad Bell on Saturday and Drew VerHagen a few weeks ago, have found themselves designated for assignment. Three relievers finished the game for Detroit , with Shane Greene pitching the ninth for his eighth save in 10 chances.
    Bolton's politicians pay tribute to Dame Tessa Jowell

    Bolton's politicians pay tribute to Dame Tessa Jowell

    The former cabinet minister died at home on Saturday evening after being diagnosed with a brain tumour previous year . She told peers: "In the end, what gives a life meaning is not only how it is lived, but how it draws to a close".
    Fortnite Buffs Thanos' damage, The Avengers: Infinity Mode balance

    Fortnite Buffs Thanos' damage, The Avengers: Infinity Mode balance

    This sounds similar to how we were introduced to Nakia as she was deep undercover tracking down a gang of human traffickers. The Huffington Post recently spoke to Avengers: Infinity War Joe and Anthony Russo about offscreen character deaths in film.
  • Arsenal beat Huddersfield Town to give Arsene Wenger winning farewell

    Arsenal beat Huddersfield Town to give Arsene Wenger winning farewell

    Now Chelsea man Giroud then bagged his second goal of the game, with just three minutes left on the clock, to complete the route. Arsenal fans have since come out in universal support of the veteran Frenchman, who's led them to 10 major trophies in 22 years.
    White House Open to Sanctioning European Companies That Do Business With Iran

    White House Open to Sanctioning European Companies That Do Business With Iran

    Bolton, whom President Donald Trump tapped in March to replace former national security adviser H.R. The British, German, French and Iranian foreign ministers are due to meet in Brussels on Tuesday.
    Pompeo: Iran Thought It 'Could Act with Impunity' During Nuke Deal

    Pompeo: Iran Thought It 'Could Act with Impunity' During Nuke Deal

    Zarif made the remarks while speaking to reporters upon arrival at Beijing International Airport on Sunday morning. Zarif will later fly to Moscow and Brussels to consult the remaining signatories to the 2015 agreement.
  • Neymar named France's player of the year

    Neymar named France's player of the year

    Reports in the French and Spanish media say Neymar has told PSG directors he wants to quit the club after only one season. His PSG teammates Edinson Cavani and Kylian Mbappe were also nominees, along with Marseille's Florian Thauvin.
    Maclaren hat-trick in fantastic  Scottish 10-goal thriller

    Maclaren hat-trick in fantastic Scottish 10-goal thriller

    Hibs led 3-0, trailed 5-3 and eventually grabbed an injury time equaliser to finish it 5-5 against 10-man Rangers . I can't believe I'm saying this, but we needed the fourth. "It just sums our season up".
    CM to announce Board exam results tomorrow

    CM to announce Board exam results tomorrow

    Madhya Pradesh Board Results 2018 will be announced by Chief Minister Shivraj Singh Chouhan who will also honour the toppers. Besides the official website cbseresults.nic.in, CBSE Class XIIth result can be checked on cbse.nic.in and results.nic.in.
  • 5-year-old seriously injured after bear attack near Grand Junction

    5-year-old seriously injured after bear attack near Grand Junction

    Colorado Parks and Wildlife officers are trying to find the bear with the help of federal wildlife services personnel. Mike Porras of CPW said later Sunday morning her condition was upgraded to fair condition.
    NMSU softball heads to Arizona State for NCAA tournament

    NMSU softball heads to Arizona State for NCAA tournament

    RPI debate and all the speculation is over for Missouri softball; the Tigers have earned a bid for the 2018 NCAA tournament. The two-time Northeast Conference champions enter postseason play riding the nation's longest winning streak at 19 games.
    Conte accepts Chelsea's Champions League hopes are fading

    Conte accepts Chelsea's Champions League hopes are fading

    After the game, Hazard gave Chelsea fans a bit more to cheer about in a post-match interview with SFR Sport . Last season, if I remember, United finished sixth and Arsenal fifth. "This season he did a fantastic job".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.