Fuel Prices: Center Finally Responds To Common Man’s Plight

Petrol diesel prices to come down by Rs 2.50 govt cuts excise duty

Petrol diesel prices to come down by Rs 2.50 govt cuts excise duty

Announcing the much sought-after relief, Finance Minister Arun Jaitley told a press conference that the cut will be effected through slashing of excise duty to the tune of Rs.1.50 per litre while the oil marketing companies (OMCs) will absorb the impact to the tune of Re one. Jaitley urged state governments to also reduce Value Added Tax (VAT) on fuel by another Rs 2.50. In response, the governments of Maharashtra and Gujarat have also announced a reduction in excise duties.

In Delhi, where the fuel prices are the lowest among all metros and most state capitals, petrol is sold at Rs 84 a litre and diesel at Rs 75.45.

The first aspect of this plan involves the government cutting excise duty by Rs 1.5 per litre of petrol and diesel.

"Reciprocating positively to FM's announcement, the Govt Of Gujarat has also made a decision to reduce Rs 2.50 on both petrol & diesel".

"Rs 10,500 Crore will be the impact of excise duty cut this year", he said. He also thanked Prime Minister Narendra Modi and Finance Minister Arun Jaitley for reducing the rates of petrol and diesel, saying this will give a huge relief to the common man.

Air Niugini revises report, says 1 passenger missing after crash-landing in Micronesia
Authorities said Saturday one man is missing after a flight crashed into the sea a day earlier off a small island in Micronesia. However, Jaynes said the only scenario he can imagine is that it hit the end of the runway and continued into the water.

Union Minister of Petroleum and Natural Gas Dharmendra Pradhan, who is in Bhubaneswar at present, requested Odisha Chief Minister Naveen Patnaik to cut taxes on fuel, ANI reported. Of the Rs 2.5 cut, the Centre will bear Rs 1.5 of the burden and oil marketing companies will take a hit of Re 1 per litre. And within minutes, a number of states began to announce their decision to give citizens additional relief of Rs 2.50, bringing the total fuel price cut in these states to Rs 5.

"The Brent oil since yesterday has crossed 86$/bbl which is the highest in the last four years".

Petrol prices have been rising for more than a month now and have reached fresh record highs across the country.

In Mumbai, petrol is being retailed at Rs 91.32 a litre and diesel at Rs 80.10 per litre after being hiked by 14 paise and 21 paise, respectively.

"I am confident we'll be able to maintain the fiscal deficit even after absorbing this", the minister said. On OMCs absorbing Re 1, he said they would adjust it over present and future prices.

Recommended News

  • Paul Scholes - Jose Mourinho 'embarrasing' for Manchester United

    Paul Scholes - Jose Mourinho 'embarrasing' for Manchester United

    City suffered a shock 2-1 defeat at home to Lyon in their first Group F game while Hoffenheim drew 2-2 at Shakhtar Donetsk. The visitors pushed for a victor , with Aguero and Raheem Sterling both thwarted by Oliver Baumann in the Hoffenheim goal.
    Manchester City v Brighton: Seagulls may limit the extent of their defeat

    Manchester City v Brighton: Seagulls may limit the extent of their defeat

    But it is just September, two games before the global break will be so important for us, for the rest of the season. City are away at Hoffenheim in the Champions League on Tuesday before travelling to Liverpool on Sunday.
    Kavanaugh Nomination Voted Out Of Committee Amid Flake Proposal

    Kavanaugh Nomination Voted Out Of Committee Amid Flake Proposal

    Dr Ford was lauded for her testimony and her bravery by various Democrats and by a large number of supporters around the world. As the committee takes up the nomination of Brett Kavanaugh for the Supreme Court on Friday, Flake is the only undecided vote.
  • Sen. Graham to Trump: Renominate Kavanaugh If He Falls Short

    Sen. Graham to Trump: Renominate Kavanaugh If He Falls Short

    Trump emphasized the details Ford said she could not recall, casting aspersions over her account of surviving an alleged assault. It marked the sharpest criticism by Trump of Ford since she came forward publicly with the allegation last month.
    No Cellphone Left Behind: U.S. to Test ‘Presidential Alert’ System

    No Cellphone Left Behind: U.S. to Test ‘Presidential Alert’ System

    It has grown more sophisticated since it was created in the 1950s, and now includes a system to send warnings to cellphones, too. The test was originally scheduled for September 20, but was postponed due to ongoing response from Hurricane Florence .

    Jeff Flake Pledges to Consider FBI Review Before Final Kavanaugh Vote

    They forced the White House to open a supplemental background investigation of sexual misconduct allegations against the judge. He said he may run - either as a Republican or an independent - if no one else does.
  • 40 minutes of Tom Hardy's favourite scenes were cut from 'Venom'

    40 minutes of Tom Hardy's favourite scenes were cut from 'Venom'

    We maintain high hopes for a sequel, although with an opening this lack-lustre, Sony might just hit the reset button once more. There's another bit of footage included right before the credits finish rolling but it's not part of the Venom movie .
    Dodgers, Rockies To Face Off In Tie-Breaker For NL West Title

    Dodgers, Rockies To Face Off In Tie-Breaker For NL West Title

    Muncy then doubled the Dodgers lead in the fifth with another two-run blast before Buehler's RBI in the sixth made it 5-0. After the game, Dodgers starter Clayton Kershaw said Buehler is up to the challenge of playing under pressure.
    OnePlus 6T is set to cost more and won’t have wireless charging

    OnePlus 6T is set to cost more and won’t have wireless charging

    The fingerprint reader takes up essential space inside the phone, near the bottom, CNET explains. Liu continued: "After you experience the Screen Unlock you'll fall in love with it".
  • Baffling Hugo Lloris Mistake Gifts Barcelona The Perfect Start

    Baffling Hugo Lloris Mistake Gifts Barcelona The Perfect Start

    Victor Waynama and Harry Winks will look to control midfield, while Lucas Moura, Erik Lamela and Heung-Min Son support Harry Kane. Yet, Spurs had chances and took two of them, and they showed real desire to try and drag themselves back into the game.

    Cubs-Brewers Set For National League Tiebreaker

    Yet those defeats are distant memories for Cubs' players, many of whom weren't even in the league when they occurred. During those games - 21 of which have been starts - Lester has a 9-7 record but more impressively sports a 2.55 ERA.
    Colorado Rockies Podcast: NL West dreams die in Dodgertown

    Colorado Rockies Podcast: NL West dreams die in Dodgertown

    Jansen recovered however to get the final three outs and wrap up the Dodgers sixth straight divisional title. The first two came off Erick Fedde , who lasted only four innings and threw 64 pitches before he was pulled.

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.