Showing posts with label Petrol Price Hike. Show all posts
Showing posts with label Petrol Price Hike. Show all posts

Monday, 4 March 2013

Uproar in Parliament over petrol price hike

Both Houses of Parliament were adjourned till 2 pm on 4th March 2013 as the opposition disrupted proceedings, demanding a rollback of the hike in petrol prices.

Members of Left parties, Trinamool and AIADMK trooped into the Well of the Lok Sabha, while BJP members raised slogans from their seats against the hike.

In the Rajya Sabha, members were seen protesting from the aisles.

As soon as Speaker Meira Kumar made the obituary references, Basudeb Acharia (CPI-M) was on his feet demanding that Question Hour be suspended and the House take up discussion on the petrol price hike.

“I have given notice for suspension of Question Hour,” he said as the Speaker called for the Question Hour.

Petrol prices went up by Rs.1.40 a litre, excluding taxes, from March 1.

As Asaduddin Owaisi (MIM) put a supplementary question to Defence Minister A.K. Antony on the controversial VVIP helicopter deal, Left, Trinamool Congress and AIADMK members trooped into the Well raising slogans against the hike.

The noise grew louder as Mr. Antony replied to the question on the chopper deal.

As the din continued, the Speaker adjourned the House till 2 pm. Rajya Sabha witnessed two adjournments in the pre-noon session with opposition parties seeking a roll back.

When the House met for the day, Derek O’Brien (TMC) raised the issue of petrol prices being raised a day after the Union Budget was presented.

Minister of State for Parliamentary Affairs Rajiv Shukla said the government was ready for a discussion on the issue but this did not pacify members who demanded the hike be rolled back.

At this point, Mr. Ansari adjourned the House for 10 minutes.

When the House reassembled, similar scenes were witnessed as SP members started moving into aisles raising slogans demanding a rollback. Mr. Ansari then adjourned the House till 2 pm.

Saturday, 2 March 2013

Petrol price hiked by Rs. 1.40 per litre

Petrol price was on 1st March 2013 hiked by Rs. 1.40 per litre, the second big increase in rates in as many weeks.
A rise in international oil prices and depreciation in rupee have necessitated a Rs. 1.40 per litre increase in price of petrol with effect from Friday midnight, said a statement by Indian Oil Corporation (IOC).
The hike is excluding local sales tax or VAT and the actual increase in rate for consumers will be higher after including the tax incidence.
The previous petrol price hike was Rs. 1.50 a litre excluding VAT on February 16, 2013.
The increase in price for consumers in Delhi will be Rs. 1.68 per litre and the new rate will be Rs. 70.74 a litre from 2nd March 2013 as against Rs. 69.06 a litre currently.
The price increase has been necessitated by two factors — the international gasoline (petrol) prices have increased from $128.57 per barrel to $131.00 a barrel since the last revision; and the rupee has depreciated from Rs. 53.43 to Rs. 54.15 per dollar during the period.
Petrol in Mumbai will cost Rs. 77.66 a litre as against Rs. 75.89 per litre currently.
“The trends of international oil prices and rupee-dollar exchange rate shall be closely monitored and the same shall be reflected in future price changes,” said IOC, the nation’s largest oil retailer.
Apart from losses on sale of petrol, oil firms are suffering under-recovery (revenue loss) on sale of diesel of Rs. 11.26 per litre, kerosene of Rs. 33.43 a litre and LPG of Rs. 439 per cylinder. The loss on diesel has risen from Rs. 10.72 a litre on February 16, when its rates were increased by 45 paise excluding VAT.
IOC said it will end the fiscal with a revenue loss of Rs. 86,500 crore on sale of diesel, LPG and kerosene. The industry, comprising of IOC and two other state firms, will be Rs. 163,500 crore during current year.
Following are the revised prices of petrol at Indian Oil Corp (IOC) petrol pumps in four metros.
Rates at pumps of Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) vary by a few paise.
Delhi 69.06 (current price) 70.74 (revised price) 1.68 (increase)
Kolkata 76.59 78.34 1.75
Mumbai 75.89 77.66 1.77
Chennai 72.17 73.95 1.78
(All rates in Rs/litre)