Petrol-diesel prices down 9 paise on lower crude cost, stronger rupee
New Delhi, June 2: Lower global crude oil cost, along with a strengthened rupee, pulled the prices of key transportation fuel -- petrol and diesel -- down by around nine paise in the four metro cities.
On Saturday, Brent crude oil prices slipped to around $76 per barrel from $77 a barrel as global supply concerns eased. A decline in global crude oil prices in turn lessen the cost of refined products like gasoline or petrol.
As per the country's pricing mechanism, the domestic petrol prices are dependent on the international fuel price on a 15-day average.
Besides, the Indian rupee has strengthened
On a weekly basis, it appreciated by 72 paise to close at 67.06 against the US dollar from its previous week's close of 67.78 per greenback.
Consequently, in the national capital, petrol was sold at Rs 78.20 per litre, down from Rs 78.29 on Friday, data on the Indian Oil Corp's website showed.
In Mumbai and Chennai, petrol prices were at Rs 86.01 and Rs 81.19 a litre, respectively, down nine paise from Friday's levels.
In Kolkata, petrol price fell by eight paise to Rs 80.84 per litre.
Prices of the key transportation fuels have been cut marginally on a daily basis, under the dynamic pricing system since May 30, as global crude oil prices began to ease.
In tandem with petrol prices, diesel prices also witnessed a decline. In Delhi, Kolkata, Mumbai and Chennai, the fuel was sold at Rs 69.11, Rs 71.66, Rs 73.58 and Rs 72.97 per litre -- all prices down nine paise from Friday's levels.
The recent surge in prices of key transportation fuel was attributed to a rise in crude oil cost, which rose till last week, and the high excise duties levied on the fuel in the country.
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Indian students being put off applying to UK universities, report finds
London (PTI): Indian students are being put off applying to UK universities, adding to their financial woes at a time when education institutions are already coping with constrained budgets, a new report into the stability of the higher education sector in England has revealed.
Based on UK Home Office data on confirmation of acceptance for studies (CAS) by UK providers from 2022-23 to 2023-24, an Office for Students (OfS) analysis released on Friday shows a 20.4 per cent drop in Indian student numbers – down from 139,914 to 111,329.
Indian student groups in the UK said the fall was to be expected amid limited job prospects and also safety concerns following recent anti-immigration riots in some cities.
“There has been a considerable decline in student visa applications from prospective non-UK students in some major source countries,” notes the report by OfS, a non-departmental public body of the government’s Department for Education.
“This data shows an 11.8 per cent decline in the total number of sponsor acceptances issued to international students, as well as considerable variation for students with different nationalities, with the largest declines reported in the number of CAS issued to Indian and Nigerian students, down 28,585 (20.4 per cent) and 25,897 (44.6 per cent) respectively,” it said.
It warns that universities with financial models that depend heavily on students from countries such as India, Nigeria and Bangladesh are likely to be significantly affected due to this downward trend.
“The number of international students from certain countries that send significant numbers to study in the UK has decreased significantly,” OfS cautions.
“By 2025-26, based on current trends and not taking into account significant mitigating action, we estimate a net income reduction for the sector of GBP 3,445 million, and, without significant mitigating actions, a sector-level deficit of minus GBP 1,636 million, with up to 72 per cent of providers being in deficit, and 40 per cent having low liquidity,” it adds.
The Indian National Students’ Association (INSA) UK said it was not surprised with the significant decrease in students from India given the government’s clampdown on foreign students being allowed to bring along their dependent partners and spouses.
“Students are not allowed to bring their partners to the UK under the new policy and given the economic conditions here and recent rioting stories, unless the government addresses this issue the outlook for UK universities is bleak as they rely heavily on Indian students,” said INSA UK President Amit Tiwari.
Indians overtook the Chinese in recent years as the leading nationality granted study visas to the UK and are the largest cohort to access the Graduate Route post-study work visa, which was thrown into disarray due to a review which has since concluded it is here to stay.
“Many reasons contribute to the decline in numbers, including the Conservative ban on dependents, confusion around post-study work visa, increase in skilled worker salary thresholds and an apparent lack of jobs in the UK,” said Sanam Arora, chair of the National Indian Students and Alumni Union (NISAU) UK.
“We discovered the scale of misinformation that continues to persist; for the first time, safety is also being raised as a concern… Universities need to ensure that they are communicating the UK offer adequately and at scale in India to address the confusions that persist," she said.
"Universities also need to invest significantly in their employability support in order to stay competitive and provide a wholesome, outcome-oriented offer for students,” she added.
