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<ul><li>Indian dairy major <keyword id="7656779" type="UNKNOWN" weightage="20" keywordseo="Amul-Today">Amul today</keyword> hiked prices of its milk, for the first time in two years. </li><li>The Gujarat-based co-operative hiked prices of milk across the country by ₹2/litre, due to pressure from unions and higher input costs. </li><li>Oil marketing companies have raised fuel prices twice in the last two days. </li></ul>Indian dairy major Amul today hiked prices of its milk, for the first time in two years. The Gujarat-based co-operative hiked prices of milk across the country by ₹2/litre, due to pressure from unions and higher input costs. Other milk producers are expected to take cues from the country’s largest milk seller, and dairy company--and follow suit. Amul’s last hike in milk prices - which was also ₹2/litre - took place in <a href="http://businessfortnight.com/amul-hikes-milk-prices-rs-2-per-litre-delhi-ncr/">March 2017.</a> Increase in fodder rates have played a part in this <keyword id="73422" type="PERSON" weightage="20" keywordseo="Price-hike">price hike</keyword>, across brands. This comes as the second bad surprise that Indians have to deal with, this week. Oil marketing companies have raised fuel prices twice--- in the last two days. They are no more under pressure from the government which asked them to <a href="https://www.businessinsider.in/fuel-prices-set-to-rise-as-lok-sabha-elections-come-to-a-close/articleshow/69197404.cms">keep prices artificially low</a> -- instead of benchmarking them to international crude prices. Yesterday, the day after polling concluded, the prices of both petrol and diesel were hiked in major cities, <a href="https://www.businesstoday.in/current/economy-politics/petrol-prices-increase-up-to-10-paise-diesel-by-16-paise-as-lok-sabha-elections-2019-conclude/story/348185.html">by ₹0.10 and ₹0.16</a>, respectively. Petrol and diesel prices were hiked again today by <a href="https://www.indiatoday.in/business/story/petrol-diesel-prices-rise-for-second-consecutive-day-after-lok-sabha-polls-end-1530689-2019-05-21">₹0.05 and ₹0.10</a>. This is a rude awakening for Indian consumers, who were enjoying the ‘feel good’ prices for the last two months. The government instructed state-owned oil marketing companies - which includes Indian Oil, Bharat Petroleum and Hindustan Petroleum - to keep prices stable in April and May so as to keep consumer sentiment upbeat. Unfortunately for the oil marketers, this request came at the wrong time. In the last few months, <a href="https://www.businessinsider.in/fuel-prices-set-to-rise-as-lok-sabha-elections-come-to-a-close/articleshow/69197404.cms">global oil prices have been rising</a> owing to curbs in production by Saudi Arabia and lesser exports from sanction-hit Iran and Venezuela. Now, fuel retailers will be eager to make up for those losses they had to absorb in the last few months, by hiking prices. 
 
 <div type="image" title="amulbi27" msid="69428969" hostid="261"></div>





 SEE ALSO: <a href="https://www.businessinsider.in/indians-will-have-to-deal-with-higher-oil-prices-as-polling-ends-and-global-supply-remains-curtailed/articleshow/69410192.cms">Indians will have to deal with higher oil prices as polling ends and global supply remains curtailed</a>

Indian households face a double whammy with price hikes in milk and fuel

<ul><li><keyword id="45077" type="COMPANY" weightage="20" keywordseo="excise">Excise</keyword> duty on <keyword id="6367091" type="UNKNOWN" weightage="20" keywordseo="petrol">petrol</keyword> and <keyword id="6356109" type="UNKNOWN" weightage="20" keywordseo="diesel">diesel</keyword> was on Saturday hiked by ₹3 per litre</li><li>Special excise duty on petrol was hiked by ₹2 to ₹8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.</li></ul>Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international <keyword id="6359072" type="UNKNOWN" weightage="20" keywordseo="oil">oil</keyword> prices.Special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Elements </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Petrol(₹/Litre) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Diesel(₹/Litre) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Base Price </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">28.18 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">31.74 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Freight Etc. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.32 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.29 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price charged to dealers </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">28.5 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">32.03 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Additional Excise duty </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">22.98 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">18.83 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Additional Dealer commission </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.54 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.49 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Additional VAT (including VAT on dealer commission) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14.85 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.23 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Retail Selling Price </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">69.87 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">62.58 </td></tr></tbody></table>*Price Breakup in Delhi as of March 14 2020 Additionally, road cess on petrol was raised by Rs 1 per litre each on petrol and diesel to ₹10. The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of slump in international oil prices. ANZ KJ

Breakup of Petrol and Diesel prices after Indian government raise excise duty by ₹3 per litre

With the recent <keyword id="6368276" type="COMPANY" weightage="20" keywordseo="Foreign-exchange">foreign exchange</keyword> fluctuations, companies are taking stringent measures. <keyword id="4581" type="CITY" weightage="100" keywordseo="general-motors">General Motors</keyword> India plans to hike price of its models by up to 2 per cent with effect from next month to partially offset the fluctuations. All the eight models of the company's current product portfolio in the country, including entry-level compact car <keyword id="48038" type="PERSON" weightage="20" keywordseo="Spark">Spark</keyword>, will become costlier due to the <keyword id="73422" type="UNKNOWN" weightage="20" keywordseo="Price-hike">price hike</keyword>. 

	"The company will hike prices across its portfolio between 1-2 per cent with effect from July depending upon the model and variant to partially offset increased cost pressure on account of the recent foreign exchange fluctuations," a company source said.
 
 

	Currently, Spark is priced at Rs 3.61 lakh while the top end variant of the company's premium sports utility vehicle Captiva is priced at Rs 27.36 lakh (all prices ex-showroom Delhi). 
	 In January, the company had increased vehicle prices by up to Rs 61,000 due to expiry of reduced <keyword id="6356916" type="UNKNOWN" weightage="20" keywordseo="excise-duty">excise duty</keyword> concessions. 
	 
	(image credits: roadsmile.com)

General Motors will hike prices by up to 2 %

NEW DELHI: The revision in natural gas prices will have to wait, with the <keyword id="40807" type="ORGANIZATION" weightage="60" keywordseo="Election-Commission">Election Commission</keyword> on Monday asking the petroleum ministry to defer the proposal in view of all relevant facts, including pendency of the matter in the <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword>. 
 
In a terse, four-line reply to the petroleum and natural gas ministry's March 14 proposal seeking EC nod for notifying the revised gas prices for the April-June 2014 quarter, principal secretary with the EC K Ajaya Kumar said "after taking into account all relevant facts, including the fact that the matter is sub-judice in the Supreme Court, the commission has decided that the proposal may be deferred". 
 
Incidentally, just before directing the government to defer the hike, the commission had sought clarifications from the petroleum ministry on whether they were seeking the EC's go-ahead for only notifying the new parameters for gas pricing or also raising the gas price. The oil ministry is said to have clarified that approval was sought to notify the new pricing regime from April 1 for all private and public sector natural gas producers, under which rates would be increased to $8.3 per million British thermal units next month from the existing $4.2 per million British thermal units. 
 The EC's decision deferring the gas price revision comes a couple of days after <keyword id="50926" type="POSITION" weightage="40" keywordseo="Chief-election-commissioner">chief election commissioner</keyword> V S Sampath hinted at a press meet in Lucknow that it would not make much of a difference were the gas price hike to wait for two more months. 
 Sampath was asked to spell out EC's stand on the proposed gas price hike in the wake of <keyword id="6356115" type="CITY" weightage="60" keywordseo="AAP">AAP</keyword> chief <keyword id="1350002" type="PERSON" weightage="40" keywordseo="Arvind-Kerjiwal">Arvind Kerjiwal</keyword>'s letter to the commission requesting it not to allow the same. Kejriwal had alleged that prices were being revised to favour <keyword id="6355199" type="CITY" weightage="60" keywordseo="Reliance-Industries">Reliance Industries</keyword>. 
 
CPI leader Gurudas Dasgupta and an NGO had filed a petition in the Supreme Court challenging the rate hike. The apex court is to resume hearing on the issue from Tuesday. 
 
The decision to revise gas prices from April 1, 2014 was taken in June 2013 and notified on January 10 this year. However, with the polls being announced on March 5, the oil ministry had approached EC on March 14 for permission to announce the new price. 
 The EC on Monday wrote to <keyword id="46538" type="POSITION" weightage="40" keywordseo="Petroleum-Secretary">petroleum secretary</keyword> Saurabh Chandra saying since the matter was sub-judice in the Supreme Court, a decision on revision in gas prices may be deferred. 
 
The decision would delay the revision until after the elections, allowing the next government to take a final call in the matter. 
 While today's decision by EC will not have any bearing on 80 per cent of the gas sold in the country as producers like ONGC will continue to sell the fuel at existing rates and contracts, it would mean current sales contracts entered by <keyword id="6484187" type="CITY" weightage="60" keywordseo="RIL">RIL</keyword> will have to be extended beyond expiry of their term on March 31. 
 
RIL sells less than 14 million standard cubic metres per day of gas to over a dozen fertilizer plants at $4.2 rate under a five-year contract that started April 2009. It had wanted to sign new contracts under the new price from next month. 
 
AAP welcomed the EC's decision. Describing this as a "dishonest decision" by the UPA, AAP said the price hike "was solely aimed at providing huge undue benefits to RIL and would have resulted in a loss of more than Rs 54,500 crore to the national exchequer." 
 
The party in a statement said it would expose further links between Reliance and BJP-Congress combine.

You Searched For "price hike" and got 4 results

Indian households face a double whammy with price hikes in milk and fuel

BI India Bureau

Breakup of Petrol and Diesel prices after Indian government raise excise duty by ₹3 per litre

PTI

General Motors will hike prices by up to 2 %

BI India Bureau

EC Puts Gas Price Hike On Hold

Times Of India

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