Advertisement
Wednesday, Dec 07, 2022
Outlook.com
Outlook.com

Amid Rising Fuel Prices, PM Modi To Meet Oil Company Heads Today

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.

Amid Rising Fuel Prices, PM Modi To Meet Oil Company Heads Today
| PTI Photos
Amid Rising Fuel Prices, PM Modi To Meet Oil Company Heads Today
outlookindia.com
2018-10-15T09:11:24+05:30

Fuel prices continued to rise across the four major metros on Sunday even as Prime Minister Narendra Modi prepares to meet oil company chiefs in Delhi on Monday 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 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.

PTI

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement