Bringing petro products under a uniform Goods and Services Tax could ensure equity for consumers across state borders. But in May, US President Donald Trump decided that Iran — a major oil exporter — should be threatened with sanctions for alleged deviations from oversight constraints on its nuclear enrichment programme, agreed with the United States under former President Barack Obama. But more sustainable options are needed to remain within the fiscal deficit target of three per cent of GDP. The difference is that Delhi and Goa levy lower value-added-tax on petroleum products (PP) than poorer jurisdictions, even though they are havens for high-income residents. Equity should start at home.6 per barrel.State-level autonomy should be respected, but not to subsidise the better-off.

Our metros, like the National Capital Region, are well and truly mollycoddled. The average exchange value of the rupee against the US dollar was 24 per cent lower at Rs 64.Consumers of petrol and diesel feel shortchanged since they never benefited from the decline of international crude oil prices. Oil price fluctuations are a source of considerable volatility in the exchange rate of the rupee. These magnets of opportunity attract migrants well beyond sustainable levels, who feed their sprawl.There was an insignificant change in the average retail price for petrol in Delhi between these two periods. Massive, mobile chunks of highly-polished metal do not define the value of a human.

This is an unsustainable draft on foreign exchange resources. It is a merit good. Part of the reduction in oil prices was negated by depreciation of the Indian rupee. This has knock-on negative effects on cross-border capital flows and the servicing of our external debt.Delhi accommodates just 1. We expected lower oil prices. The use of cooking gas rather than wood, coal or kerosene, has significant health benefits, particularly for women. The retail prices of diesel and petrol are the lowest in Delhi, among India’s key metropolitan cities. Levying user charges for overnight parking can reduce encroachment on colony roads in residential areas. During the past four years (FY 2015 to FY 2018), the average cost of the Indian basket of crude was 43 per cent lower at $58.India is particularly vulnerable to collateral damage on its energy security. This was sensible. Goa has the highest per capita gross state domestic product, followed by Delhi. Low retail prices for petro-fuel incentivise Delhiwallahs to shun public transport; car pooling; the use of bicycles or merely walking to their destinations. It isn’t cheaper to supply them to the national capital than in Chennai, Mumbai or Kolkata. (Representational Images) The retail prices of diesel and petrol are the lowest in Delhi, among India’s key metropolitan cities. Punitive tax rates on PP are desirable to slash consumption.Two-thirds of the cost comes from the purchase price of the car and its maintenance.A mix of incentives and disincentives can wean people off their yen for motorcycles and cars.

Admittedly, Delhi has severe security issues - particularly for women. All those who choose to live here must learn to pay for the social and environmental cost they impose on the rest of India via their higher consumption standards. Using Rs 300 billion, or 10 per cent of the Union government’s Rs 2. In addition, there is the global need to curb carbon emissions and the domestic imperative to reduce air pollution and road congestion in cities.Significant changes in the oil price ($82.10 in the earlier period FY 2011 to 2014.

Is this a killer for the average consumer?Not really.Consider also the ensuing disincentive for a commercially viable, well-staffed, secure and reliable public bus or metro service because the alternative of personal transport is much more attractive.8 trillion revenue from indirect taxes and royalty on the petroleum sector, as subsidy to promote cooking gas is justifiable.In March 2018 the International Energy Agency said that "oil production growth from the United States, Brazil, Canada and Norway could keep the world well supplied, more than meeting global oil demand growth through 2020".We import 80 per cent of our PP requirement. Consider that even at Rs 85 per litre, the petrol cost is just one-third of the total cost of using a low-end, high fuel-efficiency car over a life cycle of 100,000 km. And Delhi - the home of two governments and five municipalities - is the biggest beneficiary of a twisted application of this principle. The retail price for petrol in Delhi of Rs 80-plus per litre could be here to stay.Discriminatory taxes on the blown film extruder of vehicles, graded by their carbon intensity and on fossil fuels - other than cooking gas and natural gas for meeting peak electricity demand - are socially desirable.India is particularly vulnerable to collateral damage on its energy security. The rupee will also likely remain around Rs 72 to Rs 74 to the US dollar.73 per barrel currently for the India basket) are unlikely this year.6 per barrel, than during the previous four fiscal years at $102.

A gallon last year, according to AAA.72 million barrels a day.“We’ll need more oil down the road and there’ll be nowhere to get it,” said Flynn, of the Price Futures Group.The State Department has said it expects the “vast majority” of countries will comply with the US request. He also noted it always takes at least two months before a change in shipping commitments affects the market. However, summer months in the U..85, up from USD 2..” It did not elaborate.”Oil prices have edged higher as the Trump administration has pushed allies to end all purchases of oil from Iran following the US pulling out of the nuclear deal between Tehran and world powers. “This leaves the world in kind of a vulnerable state.

Its record is 10.In a statement issued Saturday night, the White House did not specify that Saudi Arabia would increase production but that “King Salman affirmed that the Kingdom maintains a two million barrel per day spare capacity, which it will prudently use if and when necessary to ensure market balance and stability, and in coordination with its producer partners, to respond to any eventuality. Trump’s tweet offered no timeframe for the additional 2 million barrels — whether that meant per day or per month.. He questioned whether Trump’s words would do anything to reverse the effects on the market of declining Iranian oil production.42 a barrel, while US benchmark crude was at USD 74.The Trump administration has been counting on Saudi Arabia and other OPEC members to supply enough oil to offset the lost Iranian exports and prevent oil prices from rising sharply.Prices to high! He has agreed!— Donald J. A gallon of regular gasoline sold on average in the US for USD 2.China is the largest importer of Iranian oil with 24 percent, followed by India with 18 percent. But broadcasting its requests on Twitter with a number that stretches credibility opens a new chapter in US-Saudi relations, Halff said. Brent crude stood at USD
Berkeley Heights (New Jersey): President Donald Trump said on Saturday that he had received assurances from King Salman of Saudi Arabia that the kingdom will increase oil production, “maybe up to 2,000,000 barrels” in response to turmoil in Iran and Venezuela. “They’re not used to this kind of public messaging. But he said it’s unlikely conical twin screw barrels Suppliers that decrease could sustain itself as demand spikes, leading prices to rise by wintertime. Trump (@realDonaldTrump) June 30, 2018A little over an hour later, the state-run Saudi Press Agency reported on the call, but offered few details.”The administration has threatened close allies such as South Korea with sanctions if they don’t cut off Iranian imports by early November. Turkey stood at 9 percent and Italy at 7 percent.If Trump’s comments are accurate, oil analyst Phil Flynn said it could immediately knock USD 2 or USD 3 off a barrel of oil.Trump’s aim may be to exert maximum pressure on Iran while at the same time not upsetting potential US midterm voters with higher gas prices, said Antoine Halff, a Columbia University researcher and former chief oil analyst for the International Energy Agency.Trump wrote on Twitter that he had asked the king in a phone call to boost oil production “to make up the difference.“The Trump support base is probably the part of the US electorate that will be the most sensitive to an increase in US gasoline prices,” Halff said.“Saudis are used to US requests for oil,” Halff said.However, Saudi Aramco CEO Amin Nasser told journalists in India on Monday that the state oil company has spare capacity of 2 million barrels of oil a day.”Other analysts were more doubtful about immediate effects.

It added that there also was an understanding that oil-producing countries would need “to compensate for any potential shortage of supplies.Saudi Arabia acknowledged the call took place, but mentioned no production targets.Trump appears to be trying to “talk the market down,” said Lawrence Goldstein, who directs the Energy Policy Research Foundation.

In a statement issued Saturday night, the White House did not specify that Saudi Arabia would increase production but that 'King Salman affirmed that the Kingdom maintains a two million barrel per day spare capacity, which it will prudently use if and when necessary to ensure market balance and stability'. Prices also have risen with ongoing unrest in Venezuela and fighting in Libya over control of that country’s oil infrastructure.Saudi Arabia currently produces some 10 million barrels of crude oil a day.“Saudi Arabia obviously can deliver as much as the market would need, but we’re going to be respectful of the 1-million-barrel cap — and at the same time be respectful of allocating some of that to countries that deliver it,” al-Falih said then..“During the call, the two leaders stressed the need to make efforts to maintain the stability of oil markets and the growth of the global economy,” the statement said. usually lead to increased demand for oil, pushing up the price of gasoline in a midterm election year.Trump’s comments came Saturday as global financial markets were closed.Last week, members of the Organization of the Petroleum Exporting Countries cartel led by Saudi Arabia and non-cartel members agreed to pump 1 million barrels more crude oil per day, a move that should help contain the recent rise in global energy prices.Prices to (sic) high! He has agreed!”Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference. I think the difficulty for them is to distinguish what is a real ask from what is public posturing.15.Saudi Arabia acknowledged the call took place, but mentioned no production targets. South Korea accounted for 14 percent of Iran’s oil exports last year, according to the US Energy Department. That was after Saudi Energy Minister Khalid al-Falih said the kingdom would honor the OPEC decision to stick to a 1-million-barrel increase

Nantes came from behind to claim a thrilling 4-3 victory at Bordeaux, with Alejandro Bedoya netting a 118th-minute winner.A quiet first half saw Paris fail to register a single shot on target, with Cavani wasting the home side’s best opportunity when he steered wide after Lucas picked out the Uruguayan just inside the area. (Photo: AFP)Zlatan Ibrahimovic scored twice as holders Paris Saint-Germain eased past Lyon 3-0 to reach the quarter-finals of the French Cup on Wednesday, extending the capital club’s winning run to 16 matches.

Maxwell Cornet went close to giving Lyon the lead five minutes before the break, but Salvatore Sirigu flung himself to his left to brilliantly turn behind the teenager’s curling effaort..Alexandre Lacazette blazed over as Bruno Genesio’s men sought to reduce the deficit, and the visitors were understandably aggrieved when Rabiot, clearly behind the last defender, converted Maxwell’s left-wing cross to seal a fourth win in as many attempts over Lyon this season.

The Swede struck again just four minutes later when Serge Aurier slid in a low cross from the right for Ibrahimovic, who was marginally offside, to poke beyond Anthony Lopes. PSG won 3-0.Adrien Rabiot then netted a third on 75 minutes, with Laurent Blanc’s men staying China building block flat twin screw barrels Suppliers firmly on course to repeat last year’s domestic treble.Blanc handed Edinson Cavani, relegated to several substitute appearances in Ligue 1 since the turn of the year, a start in place of Angel Di Maria, while midfielder Blaise Matuidi made way for Benjamin Stambouli in midfield.jpg Paris Saint-Germain forward Edinson Cavani (centre) vies for the ball with Bakary Kone of Lyon in their French Cup pre-quater-final at the Parc des Princes Stadium in Paris on Wednesday. PSG won 3-0.

Ibrahimovic bundled in the opening goal just past the hour at the Parc des Princes, and the Swede added a second soon after as PSG began to turn the screw.Paris Saint-Germain forward Edinson Cavani (centre) vies for the ball with Bakary Kone of Lyon in their French Cup pre-quater-final at the Parc des Princes Stadium in Paris on Wednesday.PSG’s mounting pressure eventually told on 63 minutes as Lucas burst down the left-hand side before crossing for Ibrahimovic to chest home

It suggests that oil prices will average $35 per barrel in the next fiscal year compared to $45 per barrel in 2015-16.Meanwhile, if the monsoon returns to normal, food prices will ease, as the government remains committed to blown film extruders Suppliers disciplined increase in minimum support prices for cereals and the rural wage growth remains muted, it said.69 per cent, the highest in last 16 months. “Oil prices have plunged in the first two months of 2016, as have some commodity prices, suggesting that input prices are likely to be lower next fiscal year.Global commodity prices such as crude oil, metals and cereals continued to decline across the globe in 2015-16, notwithstanding a few short spells of rebound.The Economic Survey 2015-16 on Friday said that another year of below-potential growth will mean widening of output gap, resulting into additional downward pressure on underlying inflation, which has already fallen below 5 per cent.The government has projected the economy to expand by 7-7.

The government is expecting retail inflation to ease to the level of 4.The government is expecting retail inflation to ease to the level of 4.The Reserve Bank, which had set a retail inflation target of around 6 per cent by January 2016, expects the rate of price rise to be around 5 per cent by the end of 2016-17 financial year.However, the Survey said the part of this might be off-set by upward pressure coming from a depreciation of the rupee, especially if the US Federal Reserve Bank continues to raise interest rates, prompting capital flows to the US, although the prospects of aggressive Fed action are receding. As growth in China continues to slow, excess capacity there could continue to increase, which will put further downward pressure on the prices of tradable goods all around the world,” it said.75 per cent in 2016-17 against 7.5-5 per cent in 2016-17. We therefore think that the effective stance of monetary policy could be relaxed,” said the survey document tabled by finance minister Arun Jaitley in Parliament.“For all these reasons, we project that consumer price index (CPI) inflation will ease to between 4.The survey expects that further price pressure relief should come from abroad.5-5 per cent in 2016-17 mainly due to continued downward pressure on global commodity prices and prospects of a normal monsoon.

It pegs the long-term potential at 8-10 per cent if exports grow rapidly.6 per cent projected for current fiscal.All this suggests that the RBI should be able to meet its target of 5 per cent (retail or CPI inflation) by March 2017, it said.5-5 per cent in 2016-17 mainly due to continued downward pressure on global commodity prices and prospects of a normal monsoon. Beyond this factor lie other deflationary forces. In January, retail inflation was at 5

On the Multi Commodity Exchange, crude contracts for July delivery went up by Rs 23, or 0.58 per cent, to Rs 3,970 per barrel in a business turnover of 20,300 lots.76, while international benchmark Brent went up 0.Analysts said the rise in crude oil futures was largely in tandem with a firm trend in global market.Analysts said the rise in crude oil futures was largely in tandem with a firm trend in global market.44 per cent to USD 64. On Multi Commodity Exchange, crude contracts for July delivery went up by Rs 23, or 0.Meanwhile, West Texas Intermediate rose New Delhi: Crude oil prices rose 0.24 per cent to USD 57.58 per cent to Rs 3,970 per barrel China conical twin screw barrels Manufacturers in futures trade Wednesday as speculators raised their exposure, tracking a rebound in global market.63 per barrel at New York Mercantile Exchange.58 per cent, to Rs 3,970 per barrel.