Petrol price hiked 50 paise, diesel up 55 paise
New Delhi(PTI): Petrol price on Sunday was hiked by 50 paise a litre and diesel by 55 paise, taking the total increase in rates since resumption of daily price revision less than a week back to Rs 3.70-3.75 per litre.
Petrol in Delhi will now cost Rs 99.11 per litre as against Rs 98.61 previously while diesel rates have gone up from Rs 89.87 per litre to Rs 90.42, according to a price notification of state fuel retailers.
Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation.
This is the fifth increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22. On all the previous four occasions, prices had been increased by 80 paise a litre - the steepest single-day rise since the daily price revision was introduced in June 2017.
In all, petrol prices have gone up by Rs 3.70 per litre and diesel by Rs 3.75 in six 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 about USD 30 per barrel.
The rate revision was expected soon after counting of votes on March 10 but it was put off by a couple of weeks apparently to not give opposition leaders like Rahul Gandhi a handle to say that they had rightly predicted that prices will go up after elections.
Congress and other opposition parties have criticised the government for the price rise saying it has added to the burden on common man reeling under general commodity price rise.
The increase in retail price warranted from crude oil prices rising during the 137 day hiatus from around USD 82 per barrel to USD 120 is huge but state-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) are passing on the required increase in stages.
Moody's Investors Services last week stated that state retailers together lost around USD 2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during the election period.
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.
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Paper leak mafia thriving under BJP's double-engine governments: Bhagwant Mann
Shimla (PTI): Punjab Chief Minister Bhagwant Mann on Thursday slammed the Centre over the alleged NEET paper leak and said that such incidents are surfacing in regions governed by the BJP's 'double-engine' and 'triple-engine' governments.
He said the leak and cancellation of the National Eligibility cum Entrance test (NEET) 2026 examination is a major failure on the part of the Union government.
"This is not the first time that a paper leak has happened. Such incidents have surfaced in 2017, 2021, 2024, and now even in 2026 and every time, a CBI inquiry is initiated, arrests are made, yet after a short while, the accused are released on bail," he said.
Mann, who arrived at the Dharamshala Cricket Stadium to boost the morale of the Punjab Kings team ahead of their upcoming IPL match, told the media that lakhs of students toil day and night, harbouring dreams of transforming their families' fortunes, but when exams are cancelled due to paper leaks, these students are left heartbroken.
The NEET 2026 paper held on May 3 was cancelled on May 12 after reports of a paper leak in Rajasthan.
He said that the paper leak mafia is predominantly surfacing in regions governed by the BJP's 'double-engine' and 'triple-engine' governments. "Paper leaked, dreams shattered, the country's administrative system is unable to conduct even a single examination properly", he added.
Taking a dig at Prime Minister Narendra Modi, Mann said that while Modi imposes various restrictions on the public, he himself continues to embark on foreign tours.
He asserted that the public deserves to know the country's true economic situation.
"The prime minister must disclose the current status of the country's oil reserves, the extent of our gold reserves, and fundamentally why restrictions are being imposed on every single commodity", he said.
No other nation has imposed such restrictions and the ongoing war is being used as a pretext, even though the country's economy is already in a precarious state, Mann added.
Regarding the ongoing campaign against drugs in Punjab, Mann said that the state government is continuously taking action against drug traffickers and asserted that a large number of traffickers are being sent to jail and that Punjab will soon move towards becoming drug-free.
Speaking about the upcoming IPL match between Punjab Kings and Mumbai Indians to be held in Dharamshala, Mann said that he also holds the portfolio of Punjab's sports minister and has arrived in Dharamshala to cheer the team.
