Fuel rates hiked again: Petrol above Rs 110, diesel above Rs 100 in many parts of India

News Network
October 17, 2021

New Delhi, Oct 17: Petrol and diesel prices on Sunday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre.

The price of petrol in Delhi rose to its highest-ever level of Rs 105.84 a litre and Rs 111.77 per litre in Mumbai, according to a price notification of the state-owned fuel retailers. In Mumbai, diesel now comes for Rs 102.52 a litre; while in Delhi, it costs Rs 94.57.

This is the fourth straight day of 35 paise per litre increase in petrol and diesel prices. There was no change in rates on October 12 and 13.

Diesel prices have now increased 19 out of the last 23 days taking up its retail price by Rs 5.95 per litre in Delhi.

With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.

Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week. Petrol prices have also risen on 16 of the previous 19 days taking up its pump price by Rs 4.65 per litre.

OMCs had preferred to maintain their watch prices on the global oil situation before making any revision in prices. This is the reason why petrol prices were not revised for the last three weeks. But extreme volatility in the global oil price movement has now pushed OMCs to effect the increase.

Crude price has been on a surge rising over three year high level of over $ 84.6 a barrel now. Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

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News Network
April 7,2024

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Purulia: West Bengal Chief Minister Mamata Banerjee on Sunday alleged the central investigating agencies were asking TMC leaders to either join the BJP or face action.

Addressing an election rally in Purulia district, she alleged agencies such as the ED, CBI, NIA and the I-T Department were working as 'arms' of the BJP.

"Agencies such as the NIA, ED and CBI are being used to harass TMC leaders. They are carrying out raids without prior information, and barging into houses. What the women would do if someone entered their house when everyone was asleep in the dead of night?" she asked.

Banerjee was referring to Saturday's incident in Bhupatinagar where a team of the NIA was attacked by a mob when it went to arrest two accused in a blast case.

"The agencies are asking our leaders and activists to either join the BJP or face action," she alleged.

Asking people not to fall for any provocation, Banerjee alleged the BJP was fanning communal passions during Ram Navami.

The chief minister also accused the BJP-led government at the Centre of depriving West Bengal of funds for MGNREGA and PM-Awas schemes.

She said the state government will provide Rs 1.2 lakh for building houses for the poor.

"The EC will not give permission to us to give the money now. After the elections, we will construct the houses of the poor," she said.

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News Network
April 13,2024

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Tehran, Apr 13: Iranian armed forces have seized a container ship near the Strait of Hormuz amid rising tensions across the region after a deadly Israeli attack on Iran’s consulate in Syria.

The incident comes amid Israel bracing for Iranian retaliation after the regime's April 1 strike on a building in the Iranian embassy compound in the Syrian capital of Damascus, which killed seven IRGC military advisors, including two generals.

The ship was commandeered by the Islamic Revolutionary Guard Corps (IRGC), the elite force that lost seven members in the Syria strike, Iranian state media reported on Saturday.

“The ship has now been guided towards the territorial waters of our country,” state-run IRNA reported.

The vessel was identified as the Portugal-flagged MSC Aries, which reportedly departed from a port in the United Arab Emirates en route to India. 

Footage from the deck of the vessel obtained by The Associated Press news agency on Saturday showed soldiers rappelling down from a helicopter.

The helicopter appeared to be a Soviet-designed Mil Mi-17, which is operated by the naval forces of the IRGC.

Zodiac Maritime said in a statement that MSC is responsible for all vessel activities.

“Title to the vessel is held by Gortal Shipping Inc as financier and she has been leased to MSC on a long-term basis. Gortal Shipping Inc is affiliated with Zodiac Maritime,” it said.

The United Kingdom Maritime Trade Operations (UKMTO) had said a vessel was seized by “regional authorities” 50 nautical miles (92km) northeast of the UAE’s Fujairah in a waterway vital to world trade.

Another Israeli-linked container ship was attacked and damaged by a drone in the Indian Ocean in late November, which the United States blamed on Iran.

Israeli Foreign Minister Israel Katz said in a post on X that the move by Iran was “a pirate operation in violation of international law”.

He called on the European Union and “the free world to immediately declare” the IRGC a “terrorist organization and to sanction Iran now”.

The Gulf of Oman is near the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all globally traded oil passes. Fujairah, on the United Arab Emirates’ eastern coast, is a main port in the region for ships to take on new oil cargo, pick up supplies or trade out crew.

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News Network
April 15,2024

New Delhi: India is likely to experience above-normal cumulative rainfall in the 2024 monsoon season with La Nina conditions likely to set in by August-September, the IMD has said on Monday.

However, normal cumulative rainfall does not guarantee uniform temporal and spatial distribution of rain across the country, with climate change further increasing the variability of the rain-bearing system.

Climate scientists say the number of rainy days is declining while heavy rain events (more rain over a short period) are increasing, leading to frequent droughts and floods.

Based on data between 1951-2023, India experienced above-normal rainfall in the monsoon season on nine occasions when La Nina followed an El Nino event, India Meteorological Department chief Mrutyunjay Mohapatra told a press conference here.

Positive Indian Ocean Dipole conditions are predicted during the monsoon season. Also, the snow cover in the Northern Hemisphere is low. These conditions are favourable for the Indian southwest monsoon, he said.

Moderate El Nino conditions are prevailing at present. It is predicted to turn neutral by the time monsoon season commences. Thereafter, models suggest, La Lina conditions may set in by August-September, Mohapatra said.

India received "below-average" cumulative rainfall -- 820 mm compared to the long-period average of 868.6 mm -- in 2023, an El Nino year. Before 2023, India recorded "normal" and "above-normal" rainfall in the monsoon season for four years in a row.

El Nino conditions -- periodic warming of surface waters in the central Pacific Ocean -- are associated with weaker monsoon winds and drier conditions in India.

Three large-scale climatic phenomena are considered for forecasting monsoon season rainfall.

The first is El Nino, the second is the Indian Ocean Dipole (IOD), which occurs due to differential warming of the western and eastern sides of the equatorial Indian Ocean, and the third is the snow cover over the northern Himalayas and the Eurasian landmass, which also has an impact on the Indian monsoon through the differential heating of the landmass.

The southwest monsoon delivers about 70 percent of India's annual rainfall, which is critical for the agriculture sector. Agriculture accounts for about 14 percent of the country's GDP.

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