OMCs again resort to alternate day fuel price revision
Oil marketing companies seem to have moved once again towards a revised fuel price mechanism, shifting to the practice of changing petrol and diesel rates after every couple of days rather than undertaking changes on a daily basis.
In the last few days, pump prices of petrol and diesel have been revised every two days but the practice had not helped consumers as even under this system prices have only moved up making the fuel dearer.
On Thursday, OMCs kept retail price of petrol and diesel unchanged. So petrol still costs Rs 96.66 per litre and diesel Rs 87.41 per litre in Delhi.
In Mumbai, where petrol prices crossed Rs 100 mark for the first time ever on May 29, the prices continued to be at new high of Rs 102.58 per litre on Thursday. Diesel prices also remained unchanged at Rs 94.70 a litre, the highest among metros.
Across the country as well, the petrol and diesel price prices remained static on Thursday but its actual retail prices varied depending on the level of local levies in respective states.
The price pause on Thursday came after petrol and diesel prices were raised by 25 and 13 paisa per litre respectively in Delhi on Wednesday. Prior to Wednesday, there was no price revision on Tuesday. Similarly, while fuel prices were raised on Monday, it remained unchanged in the previous day.
“It seems oil companies are giving a sense of relief to consumers as fuel prices are not being raised on a daily basis. But still prices are not actually falling but being raised on every alternate day too this month,” said an oil sector expert not willing to be named.
He said that the practice of daily price revision, started after deregulation of petrol and diesel prices.
Under daily price revision, OMCs revised petrol and diesel prices every morning benchmarking retail fuel prices to a 15-day rolling average of global refined products’ prices and dollar exchange rate. However, in a market where fuel prices need to be increased successively, alternate day price revision seems to be the flavour.
With Thursday’s price pause, fuel prices have now increased on 25 days and remained unchanged on 23 days since May 1. The 25 increases have taken up petrol prices by Rs 6.26 per litre in Delhi. Similarly, diesel have increased by Rs 6.68 per litre in the national capital.
With global crude prices also rising on a pick up demand and depleting inventories of world’s largest fuel guzzler — the US, retail prices of fuel in India is expected to firm up further in coming days. The benchmark Brent crude is currently over $74 a barrel on ICE or Intercontinental Exchange.
Developed INDIA with efforts of every single individuals by:PM
India will emerge as a “developed” nation by 2047 with efforts of every single individual, Prime Minister Narendra Modi said here on Saturday.
He was addressing a gathering after inaugurating Madhusudan Sai Medical Sciences and Research Institute of Satya Sai Ashram at Muddenahalli here.
“People ask how will India progress to become a developed nation within a short period by 2047, which marks the 100th year of independence? The answer with conviction and commitment would be “sab ka prayason se” (with the efforts of all).
The dream will turn into a reality with the hard work of every single individual of the country. The government is encouraging collective efforts. The role of social and religious institutions in this regard is also important, PM Modi stated.
There were less than 380 medical colleges in the country and after BJP took over, the number has increased to 650. Among them, 40 are located in the aspirational districts. The number of medical seats have been increased in the country considerably, PM Modi said.
Number of doctors who passed out in 75 years, will now graduate in 10 years. There are 70 medical colleges in Karnataka and a double engine government has established one in Chikkaballapur, he noted.
The previous governments were engaged in enacting games over languages. No step was taken to ensure medical and engineering education in Kannada language. No interest was shown. “Now, provision has been made to pursue medical education in all Indian languages, including Kannada,” PM Modi explained.
The opposition has treated the poor as their vote bank. But, BJP made it the highest objective to uplift the poor. The BJP is providing them with medicines at a cheaper price through Pradhan Mantri Janaushad outlets. The poor did not dare to go to hospitals and the government has made arrangements to get free treatment up to Rs 5 lakh, PM Modi stated.
Anti-hijack drill conducted at Jammu Airport
An anti-hijack drill was jointly conducted by different agencies at Jammu airport to validate the processes by inter agencies during such crisis, a defence spokesperson said in a statement on Saturday.
“A Full Fledged Anti Hijack Drill was conducted by NSG at Jammu airport on March 24 with activation of Anti Hijack committee at Air Force Station Jammu,” the statement said.
“This exercise involved all key stakeholders from Indian Air Force, AAI, state government, JKP, CISF, IOC and other key players.”
The drill involved entire spectrum of events including negotiations with hijackers followed by intervention and overpowering of hijackers by a potent team of NSG.
“The exercise gave a unique opportunity to validate processes by inter agencies during such crisis. An Air India aircraft which landed at Jammu in the afternoon was utilised for the realistic drill. The exercise was successfully conducted bringing valuable lessons and training for all stakeholders,” the statement added.
Bihar: 7-yr-old boy dies after brutal assault by teacher
A seven-year-old boy died in Bihar’s Saharsa district on Friday after an alleged brutal assault by his teacher.
The victim, Aditya Kumar, was an LKG student at a private school in a village under the Sadar police station. He had been living in a hostel since the last 10 days.
His parents are residents of the adjoining Madhepura district.
According to the police, the school administration informed Aditya’s parents that he became unconscious and was admitted to a private hospital.
By the time his parents arrived, the victim died.
“We sent our child to the school cum hostel in Saharsa district on March 14. We received a phone call on Friday that Aditya became unconscious and was admitted to a private hospital. When we reached the hospital, he was already dead,” said Prakash Yadav, Aditya’s father.
“We have sent the body for post-mortem to ascertain the actual cause of death. The family members alleged that he died due to the physical assault. We are also trying to arrest the owner of the school. He is absconding. We have lodged an FIR and efforts are on to nab him,” said Brajesh Chauhan, Sub-inspector of Sadar police station.
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