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Petrol Prices On The Reverse Trend For The Last 13 Days: Prices Fall

Both in Delhi and Kolkata, diesel prices in the fortnight have declined

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Petrol Prices On The Reverse Trend For The Last 13 Days: Prices Falls
Petrol Prices On The Reverse Trend For The Last 13 Days: Prices Falls, flickr

Domestic petrol prices, which had hit record levels for 16 consecutive days in May, have been on the reverse trend for the last 13 days, including Monday, but the relief for consumers has been slow in coming.

The pace of decline has been less than half the rate of surge.

Percentage-wise, since May 30, when prices started to take a downturn, petrol prices have slipped 2.35 per cent in Delhi, compared to the 5.5 per cent in the previous 16 days.

In absolute terms, prices have gone down by Rs 1.85 a litre since May 30, compared to the increase of Rs 3.8 per litre in the during May 14-29. On Monday, fuel was sold at Rs 76.58 per litre in the national capital, down 20 paise from Sunday’s level, the IndianOil Corp’s website showed.

In Mumbai, where petrol prices were the highest in the country last month, the decline has been much slow at Rs 1.23 per litre so far, against the rise of Rs 3.76 a litre during May 14-29.

On Monday, petrol price in Mumbai was Rs 84.41 per litre against Rs 84.61 on Sunday. Similarly, in Kolkata and Chennai, the fuel was sold at Rs 79.25 and Rs 79.48 respectively.

In Kolkata and Chennai too, the decline has been Rs 1.81 and Rs 1.65 per litre in the last 13 days, around 50 per cent of the previous rate of increase.

In tandem with petrol prices, diesel too has seen a decline, but of only around 2 per cent in all the major cities including Delhi, compared to over 5 per cent rise in the previous fortnight.

Petrol station
Petrol station, flickr

Both in Delhi and Kolkata, diesel prices in the last 13 days have declined by Rs 1.36, and in Mumbai and Kolkata, the fall was of Rs 1.44 and Rs 1.45 per litre respectively.

Also read: Petrol price slashes by 32 paise and diesel price by 85 paise

On Monday, prices of the fuel in Delhi, Kolkata, Mumbai and Chennai were at Rs 67.95, Rs 70.50, Rs 72.35 and Rs 71.73 per litre, respectively. (IANS)

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India’s Thermal Coal Imports Can Expect 10% Increase this Year

India's 2018 thermal coal imports rose at the fastest pace in four years, adding to India's trade deficit and hurting the valuation of the rupee.

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Thermal coal imports, india
FILE - A laborer works inside a coal yard on the outskirts of Ahmedabad, India, April 6, 2017. VOA

India’s thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country’s largest coal trader Adani Enterprises said on Tuesday.

Thermal coal imports rose in 2018 after two years of decline, despite moves by Prime Minister Narendra Modi’s government to cut the country’s imports in a bid to reduce the trade deficit.

Rajendra Singh, chief operating officer for coal trading at Adani Enterprises, said thermal coal imports this year could total 174 million-177 million tons.

“We expect a 10 percent increase in imported coal because of an immediate gap in supply from Coal India and power demand and demand from other sectors,” Singh said at the Coaltrans conference.

thermal coal imports, india
Rajendra Singh, chief operating officer for coal trading at Adani Enterprises, said thermal coal imports this year could total 174 million-177 million tons. Pixabay

Coal is among the top five commodities imported by India, and over three-fifths of its thermal coal imports come from Indonesia, while over a fifth is imported from South Africa.

India’s 2018 thermal coal imports rose at the fastest pace in four years, adding to India’s trade deficit and hurting the valuation of the rupee, the worst performing major Asian currency in 2018.

The Adani Group, which handles about a third of India’s imported coal, expects “rail transportation challenges” to lead to a “reasonable rise in imports” until fiscal year 2021 when they will stabilize.

Singh said he expects small and medium scale industries such as the sponge iron industry, tile manufacturers, cement producers and textiles to contribute to higher demand for seaborne coal, adding that an industrial shift from petcoke to coal was fueling higher imports.

 

thermal coal imports, india
Coal is among the top five commodities imported by India, and over three-fifths of its thermal coal imports come from Indonesia, while over a fifth is imported from South Africa. Pixabay

Petcoke, or petroleum coke, is a refinery byproduct which is a dirtier alternative to coal. Its usage has been banned in some parts of the country, and policy flip-flops over its usage have led to a fall in demand for the fuel.

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State-run Coal India Ltd, which accounts for four-fifths of India’s coal production, supplies largely to power plants rather than small and medium-scale industries.

Smaller scale industries have used imported coal in a big way, and while higher coal imports may be bad news for India’s trade deficit, they are a boon for international miners and global commodity merchants. (VOA)