No respite for petrol consumers, but diesel prices finally cut

20

New Delhi, Aug 18 | Oil marketing companies finally passed on the benefit of softening global oil and product prices to consumers reducing the retail price of diesel by 20 paise per litre in the national capital on Wednesday.

The companies, however, kept petrol prices unchanged for the 32nd consecutive day as they wanted to wait and watch the global oil market for some more time before any revision.

With the cut, diesel is now priced at Rs 89.67 while with no change petrol continues to be sold for Rs 101.84 per litre in Delhi.

Across the country as well, diesel prices fell between 20-25 paise per litre while petrol remained at the same level prevailing for the last one month.

Global crude prices have now softened to below $ 70 a barrel after it swung in all directions in July starting with a low of $70 a barrel to quickly rise to over $ 77 a barrel, only to fall soon below $ 70 a barrel and crossing $ 75 a barrel later in the month.

The fall in global oil should have resulted in almost Rs 2 per litre reduction on retail price of fuel. However, OMCs still want to see market movements before making further cuts.

The pump price of auto fuels has been static since July 18.

In Mumbai, where petrol price crossed the Rs 100-mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel price in the city is also close to Rs 97.24 a litre, the highest among metros.

Petrol prices in all metros have already crossed the Rs 100 per litre-mark. In Chennai, petrol is priced at Rs 99.47 a litre and in Kolkata Rs 102.08 a litre. Diesel is also priced at Rs 94.20 and Rs 92.82 per litre in both cities respectively. In Chennai, petrol prices fell by almost Rs 3 per litre on August 14 after the state government cut VAT on the fuel.

The long price pause for auto fuels has come after fuel prices increased for 41 days in the current financial year. The 41 increases has taken up petrol price by Rs 11.44 per litre in Delhi. Similarly, diesel rate has increased by Rs 8.94 per litre in the national capital.

Prices of both auto fuels reduced only once in April by 16 and 14 paise per litre respectively. Diesel price was also reduced by 16 paise per litre in Delhi on July 12 and again now on August 18.

Since April 2020, petrol prices have increased by Rs 32.25 per litre from Rs 69.59 a litre to Rs 101.84 a litre now in Delhi. Similarly, diesel prices during the period have increased by Rs 27.38 per litre from Rs 62.29 to Rs 89.87 a litre in the national capital.

Source: IANS

Next Story

Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

LEAVE A REPLY

Please enter your comment!
Please enter your name here