'Catastrophic' fuel price hike on the cards‚ protests expected

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Brace yourself to pay Rs 100 for a litre of petrol in the New Year. "Petrol and Diesel prices in Mumbai are Rs 90.35 per litre, Rs 78.82 per litre, respectively", the news agency ANI reported.

Under the country's dynamic pricing regime, petrol in Mumbai had already crossed the landmark level of Rs 90 per litre on Monday. In fact, the cost of fuel saw a steep hike of 13 paise today.

Government data published on Tuesday showed that for the first time in three months there was no weekly increase in the price of petrol, while the rise in diesel slowed to just 0.2p per litre.

The rise in prices of petrol and diesel continued on Thursday, a day after state finance minister cited sizeable "revenue loss" for its inability to cut taxes on fuel. In Chennai, the prices of petrol and diesel today were Rs 86.28 per litre and Rs 78.49 per litre respectively.

Record-breaking petrol price increase expected for South Africa – AA
AA says petrol price hike predicted to be catastrophic

The cost of petrol has increased every month since April.

An economic slump, a weak currency, and the rising price of crude oil all combine to create the ideal disaster for South African motorists and consumers.

Global crude oil prices have breached $ 81 a barrel mark, and there are no signs that prices will abate any soon. Maharashtra has the highest incidence of Value-Added Tax that probably explains while fuel prices there is highest in the country. "That's the real way to make a dent in petrol prices - by taking your money to cheaper stations". The central government has ruled out any reduction in excise duty for now. But the oil companies do not expect the petrol price to reach the three-digit mark anytime soon. Illuminating paraffin users are also likely to be hit hard by an expected hike of around R1.05.

Video shows tsunami hitting Indonesian city after 7.5-magnitude quake
Communications with the area are hard because power and telecommunications are cut, hampering search and rescue efforts. The tsunami was caused by a 7.5 magnitude natural disaster which hit just off central Sulawesi last night.

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