As fuel prices rise, PM to meet major oil company heads today

NEW DELHI, Oct 14 (IANS) | Publish Date: 10/14/2018 11:56:11 AM IST

Fuel prices continued to rise across the four major metros Sunday even as Prime Minister Narendra Modi prepares to meet oil company chief’s tomorrow to take stock of the global energy scenario. In the national capital, petrol was priced at Rs. 82.72 per litre, up from Rs. 82.66 on Saturday, data on the Indian Oil Corporation website showed. Similarly, petrol prices in Mumbai, Kolkata and Chennai also rose on Sunday -- to Rs. 88.18 in Mumbai, Rs. 84.54 in Kolkata and Rs. 85.99 per litre in Chennai.

The prices vary from region to region due to local taxes, as the product is excluded from the Goods and Services Tax regime. Delhi has the lowest tax rate among the four metro cities. The increase in transport fuel prices comes amid a continuous surge in global crude oil prices. UK Brent crude has gone upwards of $85 per barrel. Earlier this month, Union Finance Minister Arun Jaitley announced a cut in excise duty by Rs. 1.50 a litre. Additionally, the state-owned oil marketing companies have been mandated to reduce prices of petrol and diesel by Re 1 a litre each. 
Diesel prices also rose across the four metros on Sunday. 
Diesel was selling in Mumbai at Rs. 79.02, up from Rs. 78.82 on Saturday. Prices in Delhi, Kolkata and Chennai were Rs. 75.38, Rs. 77.23 and Rs. 79.71 per litre, respectively.
Meanwhile, official sources said that PM Modi will meet the chief executives of major global and Indian oil and gas companies as the US sanctions on Iran comes into effect from November 4, and as crude oil prices continue to be volatile. 
He is also expected discuss ways to revive investment in India’s upstream sector.

Launched on December 3,1990. Nagaland Post is the first and highest circulated newspaper of Nagaland state. Nagaland Post is also the first newspaper in Nagaland to be published in multi-colour.

Desk:+91-3862-248 489, e-mail: Fax: +91-3862-248 500
Advt.:+91-3862-248 267,



Join us on

© Nagaland Post 2018. All Rights are Reserved
Designed by : 4C Plus