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Petrol price hiked for 14th time in 2 weeks, touches ₹105 per litre in Delhi

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Petrol price hiked for 14th time in 2 weeks, touches ₹105 per litre in Delhi

Gasoline and diesel prices across the country rose again on Friday, the second consecutive increase after a two-day suspension. Gasoline prices in the capital rose by ₹0.35 to ₹105.14 per liter, while diesel prices rose to ₹93.87 per liter.

In Mumbai, commonly known as the financial capital of India, gasoline prices rose by 0.34 rupees to 111.09 rupees per litre, and diesel prices rose by 0.37 rupees to 101.78 rupees per litre. Gasoline and diesel prices in Kolkata, West Bengal are 105.76 rupees and 96.98 rupees, respectively, and Chennai are 102.40 rupees and 98.26 rupees respectively.

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In Bangalore, the price of gasoline is 108.80 rupees per liter and the price of diesel is 99.63 rupees, while in Hyderabad, the price of a liter of gasoline is 109.37 rupees, the price of diesel is 102.42 rupees, and the price of diesel is 102.42 rupees per liter. This is the 14th time that gasoline prices have risen in two weeks, while diesel prices have risen 17 times in three weeks. Petroleum companies started to increase car fuel prices last week.

After 7 consecutive days of rising, prices were suspended on October 12th and 13th. Although the gasoline price in most parts of the country has exceeded 100 rupees per liter, but in Madhya Pradesh, Rajasthan, Orissa, Andhra Pradesh, Telangana, Gujarat, Maharashtra States, Chattisgarh, Bihar, Kerala, Karnataka and Leh. Prices vary from state to state, depending on the occurrence of local taxes. Getting rid of the mild price change policy, state-owned fuel retailers began to pass on greater costs to consumers from October 6. This is because the international benchmark Brent crude oil jumped to around US$84 per barrel for the first time in seven years. On September 13, the trading price of Brent crude oil was $73.51.

As a net importer of oil, India prices gasoline and diesel at prices comparable to international prices. The surge in international oil prices ended the three consecutive weeks of suspension of gasoline rates on September 28 and diesel rates on September 24. Since then, the price of diesel has increased by 4.9 rupees per liter and the price of gasoline has increased by 3.9 rupees. Prior to this, gasoline prices rose by ₹11.44 per liter between May 4 and July 17. During this period, diesel prices increased by ₹9.14.

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News Source : Mint

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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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