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Petrol, Diesel Prices Remain Unchanged Across Metros. See Rates

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Petrol, Diesel Prices Remain Unchanged Across Metros. See Rates

On Friday, February 18, 2022, fuel prices remained unchanged for 105 consecutive days in all major cities. This is the longest time prices have remained flat since the daily price review began in June 2017.
This follows an 82-day hiatus from rate revisions between March 17, 2020 and June 6, 2020, when a nationwide lockdown was imposed to stop the spread of Covid-19.

The central government has cut consumption tax on November 4, 2021, to ease prices that have reached record highs. The government has imposed a tax of Rs 5 per litre on petrol and Rs 10 per litre on diesel, resulting in a sharp drop in fuel prices.

Later in December 2021, the Delhi government will reduce the VAT on petrol from 30% to 19.40%. This lowered petrol prices in the state capital by Rs 8.56 a litre.

In Delhi, petrol costs £95.41 a litre, while diesel costs £86.67 a litre. In Mumbai, petrol is priced at Rs 109.98 per litre while diesel is priced at Rs 94.14 per litre. Fuel prices in Mumbai remain the highest among major cities. Fuel prices vary by state due to sales tax or sales tax.
State-owned refiners such as Indian Oil, Bharat Oil and Hindustan Oil adjust their fuel prices on a daily basis based on crude oil prices in international markets and the exchange rate of the rupee against the dollar. Any gasoline and diesel price changes are implemented from 06:00 every morning.

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India relies on imports for 85% of its oil needs, and domestic gasoline and diesel prices are linked to international prices. But over the past three months, petrol and diesel prices have remained unchanged ahead of elections in key states such as Uttar Pradesh and Punjab, despite soaring international oil prices.

Complete News Source : NDTV

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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.

As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.

Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.

Congress demands JPC probe

Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.

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Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.

He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.

The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.

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“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.

Other Oppn leaders join attack

Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.

Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.

ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%

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Adani stocks latest updates

The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.

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