Petrol, diesel prices hiked by 80 paise a litre
New Delhi(PTI): Petrol and diesel prices were hiked by 80 paise a litre each on Friday, the third increase in four days as oil firms recoup losses from holding rates during the period prior to the recently-concluded assembly elections.
Petrol in Delhi will now cost Rs 97.81 per litre as against Rs 97.01 previously while diesel rates have gone up from Rs 88.27 per litre to Rs 89.07, according to a price notification of state fuel retailers.
The increases are the steepest single-day rise since the daily price revision was started in June 2017.
With three increases beginning March 22, petrol and diesel prices have gone up by Rs 2.40 a litre.
A record 137-day hiatus in rate revision ended on March 22 with an 80 paise per litre increase in rates and similar proportion hikes have followed in subsequent days.
Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab -- a period during which the cost of raw material (crude oil) soared by USD 30 per barrel.
The rate revision was expected soon after assembly elections ended on March 10 but it was put off.
Oil companies are now recouping the losses.
Moody's Investors Services says fuel retailers IOC, BPCL and HPCL together lost around USD 2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during elections in five states.
Oil companies "will need to raise diesel prices by Rs 13.1-24.9 per litre and Rs 10.6-22.3 a litre on gasoline (petrol) at an underlying crude price of USD 100-120 per barrel," according to Kotak Institutional Equities.
CRISIL Research said a Rs 9-12 per litre increase in retail price will be required for a full pass-through of an average USD 100 per barrel crude oil and Rs 15-20 a litre hike if the average crude oil price rises to USD 110-120.
India is 85 per cent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement.
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Raj Thackeray questions need for NEET, demands Pradhan’s resignation
Mumbai (PTI): Maharashtra Navnirman Sena (MNS) president Raj Thackeray on Thursday questioned the need for NEET-UG and demanded that Prime Minister Narendra Modi seek the resignation of Union Minister of Education Dharmendra Pradhan.
Thackeray's demand comes amid massive protests over the cancellation of the examination following allegations of paper leak.
The MNS chief said the government is so “obsessed” with bringing everything under a centralised authority that it appears to make no difference if the lives of hundreds of thousands of people are thrown into “disarray”.
In a post on X, Thackeray said that for several years now, a single individual (Pradhan) has remained entrenched in the position of Union education minister. Despite numerous “irregularities” and “scandals” within the NEET framework during his tenure, this “gentleman” continues to occupy the post, he said.
“One wonders: has he been rewarded with this continued tenure because he is so zealously pursuing the agenda of imposing the Hindi language across the entire nation? I earnestly appeal to the Prime Minister: please demand the immediate resignation of this Minister of yours, who has repeatedly toyed with the lives and future of 22 lakh students,” Thackeray said.
The National Testing Agency on Tuesday cancelled the NEET (UG) 2026 exam held on May 3 amid allegations of paper leak, with the government asking the CBI to carry out a comprehensive inquiry into the “irregularities”. The examination for students seeking admission to undergraduate courses in medical colleges will now be held afresh on dates to be notified separately.
Thackeray said the Centre continues its tradition of creating “chaos” in every matter and holding the public to ransom. The “NEET paper leak” has proved this once again, he said.
Thackeray sought to know what the Centre did when it found out the alleged malpractice. It merely cancelled the examination and ordered a CBI inquiry, he said.
In 2024, a CBI inquiry was ordered in a similar case, but nothing substantial was achieved through it, he said.
The government projects an air of having fulfilled its duty in all of this. But what about the lives of 22 lakh students and their families, who have been left hanging in the balance, he asked.
Thackeray said fundamentally, there was no need to “impose” NEET (National Eligibility-cum-Entrance Test)-UG back in 2016.
“However, this government’s obsession with bringing everything under a single, centralised authority is so intense that, to them, it seems to make no difference if the lives of hundreds of thousands of people are thrown into disarray,” he said.
The MNS chief also asked ministers within the Maharashtra government to show some “spine” and join voices with those of the southern states and oppose this system.
Thackeray said leaders from the southern states have voiced their opposition in much the same way as he. Tamil Nadu Chief Minister Vijay has also demanded the cancellation of NEET. The reason for this is that the five southern states, combined with Maharashtra, collectively possess over 350 medical colleges, whereas the large states in the north have only 180 medical colleges, he said.
Consequently, this persistent push that began in 2016 is essentially an attempt to facilitate the “entry of students from the north into medical colleges in the south”, alleged Thackeray. To ensure this, the largest network of coaching classes has been established in the northern states, he claimed.
