If trends observed in the first 15 days extend to all of August, then this would be a second monthly decline in diesel sales following an initial rebound when India reopened.
While diesel demand typically falls at this time of the year due to the monsoon, the decline exceeds the 8% month-on-month drop at the same point last year.
Delhi CM Arvind Kejriwal announced the reduction in VAT on diesel from 30 per cent to 16.75 per cent. This will bring down the price from Rs 82 to Rs 73.64.
While oil PSUs have regularly revised ATF & LPG prices, they had since 16 March kept prices on hold, amid extreme volatility in the international oil markets.
The global oil slump has given Modi govt the cushion to hike fuel taxes to meet revenue shortfalls. But retail fuel prices still hover around pre-Covid-19 levels.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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