Fuel prices rise unabated, petrol nears Rs 90/litre in Mumbai
New Delhi, Sep 16 : The rise in domestic fuel prices continued unabated on Sunday, with the price of petrol nearing the psychological Rs 90 a litre mark in Mumbai and the fuel selling at Rs 89.29 under the dynamic pricing regime.
As per rates released daily by state-run Indian Oil Corp, the depreciating rupee and expensive crude oil further pushed petrol and diesel to new record highs on Sunday.
Petrol in Delhi, which is cheapest among the four metros due to lower taxes, rose to Rs 81.91 per litre on Sunday while it increased in Kolkata and Chennai to Rs 83.76 and Rs 85.15 respectively.
Similarly, diesel prices rose on Sunday in Delhi and Kolkata to Rs 73.72 and Rs 75.57 per litre respectively and climbed to Rs 77.94 and Rs 78.26 per litre in Chennai and Mumbai respectively.
Fuel prices in the country have been going up almost daily since August 1. They fell only once on August 13 and have been on record levels for nearly two weeks now.
Sector experts say a weak rupee and high excise duty are major factors for the rise in fuel prices. Inflationary risks along with broadly negative global cues depressed the Indian rupee to a new low of 72.74 on Tuesday.
Also, high global crude oil cost has become a major concern for the country, which imports over 80 per cent of its oil requirements. The UK Brent crude oil price hovers around $78 per barrel.
Since the start of the calendar year, the petrol price in Delhi has gone up by 15.4 per cent from Rs 69.97 on January 1, 2018. The hike in diesel price has been even more steep. It has gone up by 22 per cent since January 1 when it cost Rs 59.70.
Earlier this week, the West Bengal government reduced the excise on petrol and diesel by Re 1 per litre each.
As per the country's pricing mechanism, the domestic fuel prices depend upon the international fuel prices on a 15-day average and the value of the rupee.
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EAM Jaishankar meets Jamaican PM, gifts over 10 BHISHM Cubes
Kingston (PTI): External Affairs Minister S Jaishankar on Monday met Jamaican Prime Minister Andrew Holness and discussed ways to further deepen "political, economic and people-to-people cooperation."
Jaishankar also conveyed greetings from Prime Minister Narendra Modi to Holness.
"Pleased to call on Prime Minister @AndrewHolnessJM in Kingston. Conveyed the greetings of PM @narendramodi," Jaishankar posted on X.
"Discussed deepening our political, economic and people-to-people cooperation. Value his commitment towards further strengthening India-Jamaica relations," the post further read.
Also, the external affairs minister handed over 10 BHISHM (Bharat Health Initiative for Sahyog Hita & Maitri) Cubes as a gift to Jamaica.
"Formally handed over 10 BHISHM Cubes as a gift from India to Jamaica, in the presence of PM @AndrewHolnessJM, Health Minister @christufton and FM @kaminajsmith," Jaishankar posted on X.
"The BHISHM Cube mobile hospital system, designed for rapid deployment, will help Jamaica during disasters and emergencies. The gift of these cubes is a statement of friendship, a commitment to disaster preparedness, and an outcome of innovation," the post said.
Jaishankar arrived in Kingston on Saturday evening, marking the first leg of his nine-day tour of Jamaica, Suriname, and Trinidad and Tobago, aimed at further strengthening India's strategic and cultural ties with the Caribbean nations.
Earlier in the day, he interacted with the Indian diaspora and discussed India's ongoing transformation in infrastructure, human development and technology-driven governance and entrepreneurship with them.
He also highlighted the cricket bond between both countries as India gifted a scoreboard to Jamaica.
A scoreboard was dedicated at Sabina Park in Kingston. It is the home of the Jamaica cricket team and is the only Test cricket ground in the Caribbean island nation.
The minister expressed hope that the new scoreboard would witness many memorable innings, including those symbolising the enduring friendship between the two countries.
Cricket has long been a strong cultural bridge between India and Jamaica, which is part of the West Indies cricket team.
Jamaican players, including Chris Gayle, Courtney Walsh and Michael Holding, have played a major role in shaping the legacy of West Indies cricket in the international arena, contributing to its dominance in earlier decades and its continued global appeal.
