While the announcement was initially assumed as a measure to bring down the soaring fuel prices, it was later revealed that the cuts would only offset the brunt of the newly introduced road cess, which would be charged at Rs 8 per litre. In fact, in the budget this year, the government has imposed Rs 2 per liter road cess on petrol and diesel on the other hand.
With crude oil price inching towards $70 a barrel, Oil Ministry had earlier sought the intervention of the finance ministry to cut down the excise duty on petrol and diesel in the budget. Basic excise duty on branded diesel was also reduced from Rs 10.69 per litre to Rs 8.69 per litre.
Dharmendra Pradhan, Minister of Petroleum of Natural Gas, on June 16, 2017, said, "With this historic step towards transparency and customer interest, the Indian Oil & Gas industry has joined the elite league of countries like US and Australia wherein fuel prices are revised on a daily basis". Indian Oil Corp (IOC) Chairman Sanjiv Singh on Monday responding to the charges of government meddling in fixing of fuel prices said that Petrol and diesel prices in India are to a "large extent" aligned to worldwide rates.
Notably, the prices of petrol and diesel have been increasing in the recent past due to the rising price of crude oil in worldwide market and weakening Indian Rupee.
Prosecutors drop bribery case against Sen. Bob Mendendez
After the judge's ruling last week, Menendez flashed what has become an increasingly confident and defiant side about the case. The prosecutors argued that the senator began taking bribes from Melgen shortly after he entered the Senate in 2006.
Oil marketing companies determine the prices of petrol and diesel on the basis of three factors. The new prices came into effect at 6 am on February 2. Earlier, the prices of petrol and diesel changed fortnightly every month.
CLSA on Jaitley's decision said, "There has been some re-jigging of the excise classification (infra/road cess and basic excise) for petrol and diesel but effectively the overall excise burden is unchanged". "Considering that the Union government wants to invest in development of the infrastructure sector, this cess will be an additional source of income for this goal", Mr. Jain added.
Secondly, the government also provides a subsidy for fuel products in order to buffer against prices.
She successfully reproduced some sounds - such as the phrases "hello" and " one, two, three " - on her first attempt. Dolphins and beluga whales are among the few mammals that can copy sounds from other species or each other.
Lexus has released " Black Panther's " Super Bowl 2018 commercial this week, weeks ahead of the highly anticipated event. This soon to be released Marvel movie seems to be well on its path to becoming a blockbuster, as Wilson Morales says.
Selter regularly wows her followers with suggestive photos in which she flaunts her curves and wears revealing clothing. "Ms. Another passenger chose to leave the American Airlines flight in what was described as a display of solidarity.
Meanwhile, representatives of Kurdish groups in Syria boycotted the Russian event because they are now under attack by Turkey. The talks come as Russian and Syrian regime airstrikes kill dozens of civilians in Syria's rebel held Idlib province.
Secretary-General said António Guterres "strongly condemns" the attack and said those responsible must be brought to justice. Monday was declared a holiday, as part of three days of mourning for the victims of the recent attacks.
The 28-year-old has barely featured under Jurgen Klopp this season and has started only five games in the Premier League so far. Despite taking four points from their past two league games, West Brom sit second bottom and three points from safety.
Republican polls in many key swing districts show the president continues to poll below GOP incumbent members of Congress. Considering the strength of the economy, Trump will step before lawmakers Tuesday night in a remarkably weak position.
The nature of the relationship between the two countries means she can still discuss "those issues" of concern, she said. What we're doing now is doing the job that the British people asked the Government to do which is to deliver on Brexit.
Maharashtra Chief Minister Devendra Fadnavis has announced a compensation of INR 5 lakh (£5,554) for the family of the victim. A man from Mumbai , India, was killed in a freak accident after he took a metal cylinder into a room with an MRI machine.
The joint venture will also cut 10,000 jobs globally as Fujifilm undertakes a restructuring, the Japanese company announced. They say the objective of the restructuring is to reorganize operations and streamline manufacturing bases.
They included a northbound route known as M503, which travels up the Taiwan Strait that divides China from the self-ruling island. Taiwan split from the mainland in 1949, but is regarded by Beijing as "an inseparable part" of the People's Republic.
The Associated Press was informed of the decision before an official announcement was planned for Monday by Major League Baseball. It will still sell souvenirs at the stadium and in retail outlets, but MLB's website will no longer carry the items.
First sight of new generation Santa Fe
Previous Santa Fe designs have been fairly ordinary and uninspiring and certainly didn't stand out in the burgeoning SUV market. Korea's largest automaker held a media preview event on Tuesday and gave a sneak peek of the new vehicle's key features.
Chiefs, Redskins trade could have impact on Colts' draft
Cousins may be interested in coming to a Cleveland team that is young and that has been stuck in a 20- some year rebuild. For the Chiefs, Smith had 50 wins and only 26 losses, and has not been involved in a losing season since 2010.
US State Department Designates Hamas Leader as Terrorist
Hamas - which has controlled the Gaza Strip for more than a decade - had already been on the U.S. terror blacklist since 1997. Already in 1997, under former President Bill Clinton, the USA designated Hamas, itself, as a Foreign Terrorist Organization.
Seller of ammo to Vegas shooter didn't know plan
He says he wonders, "What did I miss?" and "Why didn't I pick this up?" in his interaction with Paddock. Las Vegas police officials told CNN on Tuesday the department can not comment on Haig or any names.
Battle for Azeroth pre-purchase is live
Thankfully, these requirements are account-wide, helping Alliance players unlock the Horde races fairly easily and vice versa. Players who want to unlock these Allied Races must be Exalted with that race's associated Legion faction.
Trump signs order to keep Gitmo open
The order says the USA may transport additional detainees to the detention center in Cuba, when necessary to protect the nation. Mr Trump's order says this review process would continue to be used to determine whether detainees should be held.
E-commerce discounts on Apple iPhone may end soon
While sales of the iPhone X have been strong in the US , the device has reportedly failed to catch on as much globally. Spot prices of NAND flash memory, another key smartphone component, have dropped roughly 10% since late October.