IOC resumes dynamic pricing, petrol near 5-year high in Delhi
New Delhi, May 14 : With the resumption of dynamic pricing system for transport fuels on Monday by the Indian Oil Corporation (IOC), petrol prices in the national capital shot up to 74.80 per litre.
The IOC had suspended dynamic pricing system for transport fuels for 19 days to "avoid creating unnecessary panic among the consumers".
In Delhi, petrol was priced at Rs 74.80 per litre on Monday, highest since September 2013, when it had hit Rs 76.06 a litre. The price was last changed on April 24 when it was at Rs 74.63 per litre.
In the other metropolitan cities of Kolkata, Mumbai and Chennai also petrol prices were at multi-year high levels of Rs 77.50, Rs 82.65 and Rs 77.61 a litre on Monday.
The previous highs in these cities were Rs 78.03 (Kolkata, August 2014), Rs 83.62 (Mumbai, September 2013) and Rs 77.48 (Chennai, September 2013).
Apart from petrol prices, diesel also rose to a fresh record high after the last price movement on April 24. Prices of diesel on Tuesday, in Delhi, Kolkata, Mumbai, Chennai were Rs 66.14, Rs 68.68, Rs 70.43 and Rs 69.79 per litre, respectively.
Prices did not change in the last 19 days, despite rise in international crude oil prices, which observers cited as a deliberate political move ahead of Karnataka polls. Brent crude oil is currently priced over $76 per barrel.
However, IOC Chairman Sanjiv Singh on May 8, said the dymanic pricing was suspended temporarily despite a rise in international rates, to avoid panic among consumers.
"We have decided to temporarily moderate retail prices by not passing on the required increase as we believe the current international oil product prices are not supported by fundamentals. So we have decided to wait for a while," Singh had said, adding: "Passing them on to consumers will unnecessarily create panic."
This temporary relief to consumer seems to have come to an end with the rise in prices on Monday.
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Delhi wakes up to cloudy Thursday with light rain, minimum temp at 17.6 deg C
New Delhi (PTI): Delhi woke up to a cloudy Thursday morning, with parts of the city receiving up to 12.5 mm of rainfall, while the minimum temperature stood at 17.6 degrees Celsius, according to the India Meteorological Department (IMD).
The IMD stated that Safdarjung and Lodhi Road recorded 8.2 mm of rainfall each, while the Ridge station received 8.6 mm and Palam recorded 6.2 mm.
Ayanagar recorded 7.2 mm of rainfall, and Pitampura recorded 5.5 mm.
Additionally, Mayur Vihar recorded 3 mm of rainfall, while Janakpuri received 12.5 mm from 8.30 am on Wednesday till 8.30 am on Thursday.
The weather office noted that the minimum temperature was recorded at 17.6 degrees Celsius, which is 1.1 notches above the seasonal average, while the maximum temperature is expected to settle around 29 degrees Celsius.
According to the IMD, Delhi is under a yellow alert for very light to light rainfall, thunderstorms accompanied by lightning, and gusty winds with speeds of 30 to 40 kilometres per hour.
The AQI stood in the 'moderate' category at 9 am, with an Air Quality Index (AQI) reading of 153, Central Pollution Control Board (CPCB) data showed.
According to the CPCB, an AQI between zero and 50 is considered 'good', 51 to 100 'satisfactory', 101 to 200 'moderate', 201 to 300 'poor', 301 to 400 'very poor', and 401 to 500 'severe'.
