Pakistan's weekly inflation rate increases by 3.38 per cent after fuel price hike
World | June 19, 2022 10:06 ISTThe increase in the weekly inflation is the highest since the change of the base year for measuring the SPI, the Dawn reported.
The increase in the weekly inflation is the highest since the change of the base year for measuring the SPI, the Dawn reported.
The new prices came into effect from Wednesday midnight and showed a massive hike of Rs 24 per litre in petrol prices and Rs 59.16 per litre of high-speed diesel (HSD) – the two products used by everyone directly or indirectly, Finance Minister Miftah Ismail said.
Surendra Singh, a petrol pump operator here in Vikasnagar, said that since past few days, there is a lot of problem in availibilty of petrol and diesel as the oil companies are supplying it in three days.
The minister said the country faced four major challenges in the last two years. These 4 issues were COVID, tension with China along the Line of Actual Control, the Afghanistan situation and the Ukraine war.
Reports said that the loss to the exchequer post the reduction of excise duty on petrol and diesel will be borne through additional borrowings.
A day after Centre cut excise duty on petrol and diesel, the Maharashtra government on Sunday slashed VAT on fuel. The government added that the state will have to bear an additional loss of Rs 2,500 for this move.
In the national capital, the excise duty cut will result in a reduction of Rs 9.5 a litre on petrol in Delhi and Rs 7 a litre in diesel after taking into account its impact on other levies.
The Indian government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battered under high fuel prices that have also pushed inflation to a record high.
The government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battered by high fuel prices that have also pushed inflation to a multi-year high.
The price of domestic cooking gas was increased by Rs 50 per cylinder on Saturday, the second increase in the last two months, taking the price to Rs 1,026 in Kolkata.
PM Modi on Wednesday, while addressing all state CMs, talked about planning and analysis of the rising number of COVID case. Moreover, the Prime Minister also appealed to non=BJP ruled states to reduce VAT on petrol-diesel. Watch this episode of Aaj Ki Baat with Rajat Sharma.
The prime minister focussed a big part of his concluding remarks of his meeting with chief ministers to review the COVID-19 situation on the issue of rise in fuel prices which has been a matter of public debate and a cause behind the surge in inflation.
In a televised address after meeting with CMs over rising Covid cases in the country, PM Modi had earlier sought to blame the Opposition-ruled states for rising fuel prices.
Petrol and diesel prices have constantly headed north over the past few days but it seems to have settled for now as fuel charges remain unchanged for three straight days.
Accusing the Centre of not doing anything to control price rise of fuel and other essential commodities, Mamata insisted that a policy should be made to arrest the hike.
Petrol and diesel prices in Delhi were on Tuesday hiked by 80 paise a litre each, taking the total increase in rates in the last two weeks to Rs 9.20 per litre.
Sri Lanka is grappling with what is said to be its worst economic crisis since independence from the UK in 1948. It is caused in part by a lack of foreign currency, which is used to pay for fuel imports. People are languishing in long queues for fuel, cooking gas and endure power cuts lasting multiple hours.
Petrol and diesel prices were on Monday hiked by 40 paise a litre each, taking the total increase in rates in the last two weeks to Rs 8.40 per litre.
Petrol and diesel prices continued to rise as both fuels cost 80 paise per litre higher than the previous day. In the national capital, petrol stood at Rs 103.41 per litre and diesel costed Rs 94.67 per litre.
As the shipment arrived, the Ceylon Electricity Board announced that 13-hour power cuts would now be reduced to nearly 2 hours from Sunday.
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