Petrol price up by 26 paise per litre; nears all-time high as oil companies hike rates again

Agencies
January 6, 2021

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Mumbai, Jan 6: Petrol price on Wednesday neared all-time high after state-owned fuel retailers hiked rates after a nearly month-long hiatus.

Petrol price was raised by 26 paise per litre and diesel by 25 paise a litre, according to a price notification from oil marketing companies.

After this increase, petrol in Delhi climbed to Rs 83.97 per litre from Rs 83.71 previously.

Diesel rates rose to Rs 74.12 per litre from Rs 73.87. In Mumbai, diesel touched an all-time high of Rs 80.78.

This is the first price revision in nearly a month and rates are now near an all-time high.

Highest ever rate of Rs 84 a litre for petrol in Delhi was touched on October 4, 2018. Diesel too had scaled to an all-time high of Rs 75.45 a litre on October 4, 2018.

On that day, the government cut excise duty on petrol and diesel by Rs 1.50 per litre in a bid to ease inflationary pressure and boost consumer confidence. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.

However no tax cut is under consideration as of present, a senior government official said on Wednesday.

Though petrol and diesel rates are to be revised on a daily basis in line with benchmark international price and foreign exchange, government-controlled fuel retailers have been moderating rates since the pandemic broke out.

They first did not pass on to the customers a reduction in price warranted from the slump in international oil rates witnessed due to demand erosion beginning March 2020.

While they promptly passed on an increase in sales tax by state governments such as the one in Delhi, they adjusted a steep increase in excise duty by the central government against the reduction in retail price warranted.

The government raised excise duty by Rs 13 per litre on petrol and by Rs 15 a litre on diesel in two instalments in March 2020 and May 2020 to garner additional revenue of Rs 1.6 lakh crore.

That adjustment of rate revision against excise duty hike resulted in a 52-day status quo in prices between March 17, 2020, and June 6, 2020. This was followed by no change in rates between June 30, 2020, and August 15, 2020, and 58-day hiatus in petrol price revision and 48-day status quo on diesel rates from September 22, 2020, and October 2, 2020, respectively.

Rates were again frozen after last revision on December 7, 2020.

Since May 2020, petrol price has risen by Rs 14.28 per litre and diesel by Rs 11.83 a litre, price notifications of oil companies showed.

When petrol scaled its highest levels in Delhi on October 4, 2018, the fuel touched a new high of Rs 91.34 in Mumbai. On Wednesday it costs Rs 90.60 a litre in Mumbai.

Diesel in Mumbai on Wednesday at Rs 80.78 a litre is higher than the October 4, 2018 rate of Rs 80.10.

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News Network
November 13,2024

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New Delhi: The Supreme Court took a firm stance on ‘bulldozer justice’ today, affirming that the Executive cannot bypass the Judiciary and that the legal process must not prejudge the guilt of an accused. In a significant judgment, the bench led by Justices BR Gavai and KV Viswanathan set new guidelines for demolition practices, responding to petitions challenging the controversial bulldozer actions taken against individuals accused of crimes.

The rise of this practice, termed 'bulldozer justice,' has seen authorities in various states demolish what they claim to be illegal structures belonging to accused individuals. However, multiple petitions questioned the legality and fairness of this approach, bringing the matter before the court.

Justice Gavai highlighted that owning a home is a cherished goal for many families, and an essential question was whether the Executive should have the authority to strip individuals of their shelter. “In a democracy, the rule of law protects citizens from arbitrary actions by the state. The criminal justice system must not assume guilt,” stated the bench, underscoring that due process is a fundamental right under the Constitution.

On the principle of separation of powers, the bench reinforced that the Judiciary alone holds adjudicatory powers and that the Executive cannot overstep these boundaries. Justice Gavai remarked, “When the state demolishes a home purely because its resident is accused of a crime, it violates the doctrine of separation of powers.”

The court issued a strong warning about accountability, stating that public officials who misuse their power or act arbitrarily must face consequences. Justice Gavai observed that selectively demolishing one property while ignoring similar cases suggests that the aim might be to penalize rather than enforce legality. “For most citizens, a house is the product of years of labor and dreams. Taking it away must be an action of last resort, thoroughly justified,” he said.

In its directives under Article 142 of the Constitution, the Supreme Court established new demolition guidelines. These include:

Mandatory Show-Cause Notice: No demolition should occur without first issuing a show-cause notice. The person served has a minimum of 15 days or the duration stated in local laws to respond.

Transparency of Notice Content: The notice must include specifics about the alleged unauthorized construction, the nature of the violation, and the rationale for demolition.

Hearing and Final Order: Authorities are required to hear the response of the affected individual before issuing a final order. The homeowner will have 15 days to address the issue, with demolition proceeding only if no stay order is obtained from an appellate authority.

Contempt Proceedings: Any breach of these guidelines would lead to contempt proceedings. Officials who disregard these norms will be personally accountable for restitution, with costs deducted from their salaries.

Additionally, the court mandated that all municipal bodies establish digital portals within three months, displaying show-cause notices and final orders on unauthorized structures to ensure public transparency and accountability.

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News Network
November 19,2024

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Gone are the days of chaotic group chats and endless back-and-forth messaging. Say hello to seamless event planning with WhatsApp's new event feature—your ultimate tool for stress-free gatherings!

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News Network
November 15,2024

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Iran’s Islamic Revolution Guards Corps (IRGC) has killed or captured 69 terrorists linked to the Israeli spy agency Mossad during a major counterterrorism drill in the country's southeast, its spokesman says.  

General Ahmad Shafaei, the spokesman for the “Martyrs of Security” drill, said Friday that a total of 23 terrorists have been killed and another 46 arrested in various clean-up operations ever since the IRGC Ground Force launched it in the Sistan and Baluchestan province on November 1.

Seven terrorists have also turned themselves in during the period.

“The undeniable fact about terrorists is that they rely on arrogant powers, particularly the intelligence service of the wicked and vicious Zionist regime," Shafaei said.

“Unfortunately, weapons and munitions at terrorists’ disposal are among the most sophisticated ones in the world. This accounts for their heavy dependence.” 

The official stated that several members of the disbanded terror teams were non-Iranian nationals, who had been hired by foreign intelligence agencies to carry out acts of sabotage and terror inside Iran.

In a most recent operation, six terrorists were arrested and four others were eliminated, three of whom were non-Iranians, he added. 

On October 26, ten members of Iran's law enforcement forces were killed in a terrorist attack in the Gohar Kuh district of Taftan in the Sistan and Baluchestan province.

The so-called Jaish al-Adl terrorist group claimed responsibility for the assault, which was one of the deadliest in the province in recent months.

The group has carried out numerous terrorist attacks in Iran, primarily in Sistan and Baluchestan.

Its tactics include the abduction of border guards as well as targeting civilians and police stations within the province to incite chaos and disorder.

In January, Iran launched a military operation during which the headquarters of the Pakistan-based terrorist group was targeted in missile strikes, destroying its infrastructure.

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