Petrol price crosses Rs 100 per litre in many Karnataka cities including Bengaluru

News Network
June 18, 2021

Bengaluru, June 18: Bengaluru on Friday became the latest city where petrol prices crossed Rs 100 after fuel prices were increased.

In the month of June alone, petrol rose over Rs 2 in Bengaluru. The price of the commodity has almost doubled since 2016.

In the last ten years, petrol saw its lowest in March 2016 at Rs 58.99. At this time, crude was $37.34 per barrel.

In just six months, the price of petrol in the IT-hub has increased from Rs 86.47 to Rs 100.

However, Rs 100 is not the actual price of the commodity per litre. Central and state-level taxes and commissions that are levied on fuels are one of the key factors that push up prices.

The base price of petrol is close to Rs 36 per litre. The dealer commission on it is close to Rs 4 per litre and the government levies an excise duty of Rs 32.90 a litre. Over and above this, the state also levies a sales tax on petrol. Karnataka imposes a 35 per cent sales tax on petrol.

So far as the gross refining margins for oil making companies is concerned, it is around $2.5 per barrel.

Crude petroleum was around $66.4 per barrel in May 2021. 

Experts say that with increasing petrol prices across the country, it is time the government brings it under the GST regime.

S P Singh from the Indian Foundation of Transport Research says, "Petrol prices will go up even further. The only solution is to bring petrol and diesel under GST." 

A litre of diesel is priced at Rs 92.97 per litre in Bengaluru.

In several other cities in Karnataka, petrol has either crossed or is just shy of the Rs 100-per-litre mark.

Meanwhile in Delhi petrol now costs Rs 96.93/litre while diesel is Rs 87.69 a litre. Petrol is Rs 104.53 and diesel 95.75 a litre each in Bhopal.

In the financial capital of Mumbai, petrol is now priced at a record Rs 103.08 and diesel at 95.14.  

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News Network
January 13,2025

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Los Angeles wildfires have continued their trail of devastation, razing death tolls to 24 and destroying thousands of structures, while intensifying winds are worsening the situation for both civilians and firefighters.

In an update on Sunday evening, the County of Los Angeles Department of Medical Examiner said a total of 24 people have died due to the wildfires.

According to the examiner, this number is only an estimate as hundreds of people in various parts of the county are still missing.

Weather forecasters in California are also warning fierce winds which fuelled the infernos around Los Angeles are expected to pick up again this week.

The notoriously dry Santa Ana winds would pick up again from Sunday night until Wednesday, reaching speeds of up to 96km/h, they said.

The most dangerous day will be Tuesday, said weather service meteorologist Rich Thompson. “You are going to have really strong gusty Santa Ana winds, a very dry atmosphere and still very dry brush, so we still have some very critical fire weather conditions out there,” he added.

On Saturday, the flames spread east, creeping closer to Interstate 405 and a busy mountain pass. This is a “significant development,” said L.A. County spokesman Jesus Ruiz.

With the fire rapidly growing and moving in the direction of “a heavily populated area … we are definitely concerned,” he continued.

Gavin Newsom, governor of California said that he believes that in terms of costs associated with the wildfire, it will be the worst natural disaster in terms scale and scope in the history of the US, and the fatalities is likely to increase significantly as well.

On Sunday, private forecaster Accuweather increased its preliminary estimate of financial losses from the blazes to between $250 billion to $275 billion. The wildfires are on track to be among the costliest in US history.

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News Network
January 10,2025

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Barakah International School and College is organizing a unique parenting workshop aimed at equipping parents with essential skills in various aspects of parenting. The event will take place at Barakah Auditorium, Ayar, on Thursday, January 16, 2025, at 6:30 PM.

This session will cover three crucial aspects of parenting:

Motivating Your Child to Excel in Academics: Presented by Sharfuddin B.S., Principal of Barakah International School and College and an internationally acclaimed motivational speaker.

Parenting in the Modern Age: Delivered by Mr. Saif Sultan, a renowned motivational speaker and Chairman of the Hope Foundation.

Parenting Skills to Instill Islamic Values: Led by Mohammad Haneef, Principal of the Islamic Department at Barakah International School and a well-known Khateeb.

The workshop will conclude with a Q&A session, providing participants the opportunity to gain deeper insights from the experts.

The program is free of cost and open to both parents, subject to prior registration. Maghrib and Isha prayer arrangements will be available, and refreshments will be served at the end.

Interested participants are encouraged to register at the earliest to secure their slots via the following Google Form:

https://forms.gle/mKxsr4A1UGrpo7DJ9

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News Network
January 1,2025

Udupi: In a shocking case of investment fraud, a 72-year-old man from Udupi, Karnataka, lost Rs 49 lakh after falling prey to a deceptive stock market scheme. The incident highlights the growing menace of online scams targeting unsuspecting individuals.

According to the complaint filed by Francis Castelino, an unknown individual added his son's mobile number to a WhatsApp group titled "Stock Market Navigation." The group shared stock market insights and promised lucrative returns, convincing Castelino’s son to invest. Trusting the information, the son persuaded his father to make substantial investments.

On December 30, 2024, Castelino transferred Rs 17,00,000, his wife contributed Rs 10,50,000, and their son invested Rs 21,50,000 to the bank account provided by the fraudsters. 

However, when Castelino attempted to withdraw the invested money, he and his family were pressured to reinvest further. Realizing that the promised profits and their principal amount were not forthcoming, the family approached the police for help.

A case has been registered at the Udupi CEN Police Station under Sections 66(C) and 66(D) of the IT Act and 318(4) BNS. Investigations are underway to track down the culprits and recover the lost funds.

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