Published: Tue, September 04, 2018
Markets | By Josh Butler

Record diesel prices likely to push up school bus fees in Mumbai

Record diesel prices likely to push up school bus fees in Mumbai

Government blames falling rupee value fuel price hike. A litre of petrol is selling at Rs. 86.72 in Mumbai, Rs. 82.41 in Chennai and Rs. 82.22 in Kolkata. While petrol costs ₹86.72 a litre, diesel is priced at ₹75.74 a litre.

In Delhi, the petrol price touched Rs 79.15 per litre which is an increase by Rs 0.31/litre.

Retail prices of petrol and diesel breached record levels on Tuesday with Oil Marketing Companies (OMCs) raising rates by 16 paise per litre and 19 paise per litre, respectively, for the two automobile fuels.

Union minister of Petroleum and Natural Gas, Dharmendra Pradhan, blamed the "isolated" policies of the USA for the "abnormally" rising fuel prices in the country.

As petrol and diesel rates continued to soar on Monday after reaching a record high a day earlier, school bus operators indicated there could be a hike in bus fees from the second semester in October.

Gunfire heard on broadcast of Del Mar race
People at the venue saw a string of sheriff's and police cars responding to the fairgrounds around 6:40 p.m. The man pulled out a silver plated semi-automatic handgun and fired several shots into a crowded area.

"Apart from that, crises in countries like Venezuela and Iran are increasing".

Production by the Organization of the Petroleum Exporting Countries rose 220,000 barrels per day (bpd) in August to a 2018 high of 32.79 million bpd, a Reuters survey showed. With expectations of further tightening in oil prices due to a mix of factors such as declining inventories in the USA, and Iran sanctions coming into place, the trend of rising petroleum prices is likely to continue.

This takes the global price of crude oil and the value of the rand against the dollar into account. There is a pressure on oil prices due to a decrease in production.

Arguing that one can not blame the state government for rising prices, he said the Centre and states must act together and bring petrol and diesel under GST. "You can then buy petrol paying a dollar", he said.

Delhi chief minister Arvind Kejriwal on Monday said the government had made a "mess" of the economy.

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