Know why you have to pay more for buying petrol and diesel from today Tuesday August 01,2017

Consumers will have to pay more for petrol and diesel starting August 1 as the oil marketing companies have decided to increase the dealer commission they pay fuel pump owners. The dealer commission forms part of the price of the fuel that consumers pay and is currently Rs 2.55 per litre for petrol and Rs 1.65 per litre for diesel. The All India Petroleum Dealers Association has been asking for a Rs 1 per litre hike for petrol and Rs 0.72 litre for diesel. Ajay Bansal, president of All India Petroleum Dealers Association told FE that the new commission rates will be effective from August 1.

Though now petrol and diesel prices are revised on a daily basis in tandem with international crude prices, the hike may be slighter higher
now if crude price rises and decrease less if it goes down because of the increased dealer commission. Dealer associations have been threatening to go on strike since June 16 when daily change in retail prices began (earlier prices were adjusted on 1st and 16th of every month) as they claim the new system erodes their margins because they face inventory losses when crude prices and subsequently retail prices go down.

According to the petroleum ministry’s statement in Parliament on July 26, the price of petrol and diesel in Delhi was Rs 64.11 per litre and Rs 54.93 per litre, respectively, on July 16. Of this, Rs 2.55 a litre goes as dealer commission in the case of petrol and Rs 1.65 a litre for diesel. Dealers claim that the commission at present is too low to cover expenses and make a profit. “The national average sale per outlet is 170 kilolitres of fuel every month. Assuming this sale, a dealer makes only 14 paise per litre which converts to around Rs 25,000 of profit per month,” said Bansal. This is after paying for operational costs such as wages and electricity, and account for return on capital and evaporation of fuel. Bansal claims that as much as 1% of the fuel evaporates.

“We had requested to increase expenses earmarked under each of these components which translates to a little over Rs 1 per litre for petrol and around 72 paise for diesel,” said Bansal, adding that wage costs have gone up by around 42%, varying across states, for dealers in the past six to eight months. Ever since the daily revision in fuel prices was introduced, consumers have been the beneficiary. The price per litre of petrol was down 0.7% on July 31 compared with June 16 when daily change in price came into effect, and fell as much as 3.7% on July 2.

2017 South Tour of England - England retain Steven Finn in 13-man squad for fourth Test against South Africa

 England have retained Steven Finn in their 13-man squad for the fourth and final Test against South Africa after injured Mark Wood was ruled out of the Old Trafford match.

The Middlesex fast bowler, who has played 36 Tests, was included as late cover for Wood on the eve of The Oval clash, after the later was sidelined with a heel injury.However, Finn but did not make it into the Playing XI.

England are currently 2-1 up in the Test Series after debutants Toby Roland-Jones, who took eight wickets, and Tom Westley, whose composed 59 in the second innings drew praise, helped England to a thumping 239-run win at the Kia Oval.

Hampshire left-arm spinner Liam Dawson, who did not play at the third Test after featuring in the first two games of this series, was also retained in the squad.

England squad: Alastair Cook, Keaton Jennings, Tom Westley, Joe Root (capt), Dawid Malan, Ben Stokes, Jonny Bairstow, Moeen Ali, Stuart Broad, Toby Roland-Jones, James Anderson, Steven Finn, Liam Dawson.

Hat-trick heroes for England in Test Matches

1) Billy Bates against Australia in 1882-83

2) Johnny Briggs against Australia in 1891-92

3) George Lohmann against South Africa in 1895-96 

4) Jack Hearne against Australia in 1899

5) Maurice Allom against New Zealand in 1929-30

6) Tom Goddard against South Africa in 1938-39

7) Peter Loader against West Indies in 1957

8) Dominic Cork against West Indies in 1995

9) Darren Gough against Australia in 1998-99

10) Matthew Hoggard against West Indies in 2003-04

11) Ryan Sidebottom against New Zealand in 2007-08

12) Stuart Broad against India in 2011

13) Stuart Broad against Sri Lanka in 2014

14) Moeen Ali against South Africa in 2017
 

NDA Govt to Hike LPG Prices by Rs 4 Every Month to Eliminate Subsidies

State-run oil companies have been ordered to raise LPG prices by Rs 4 per cylinder every month to end all subsidies on the cooking gas by March next year, Oil Minister Dharmendra Pradhan said on Monday July 31,2017

The government had previously asked Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) to raise rates of subsidised domestic LPG (liquefied petroleum gas) by Rs 2 per 14.2-kg cylinder per month (excluding VAT).

Now, the quantum has been doubled so as to bring down the subsidy to nil, he said in a written reply in the Lok Sabha.

Every household is entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year. Any requirement beyond that is to be purchased at market price.

"Public sector oil marketing companies (OMCs) were authorised to increase price of subsidised domestic LPG cylinder by Rs 2 per cylinder (14.2-kg) per month (excluding VAT) with effect from July 1, 2016," he said.

Oil companies had hiked LPG rates on 10 occasions since that go-ahead.

"The government vide its order dated May 30, 2017, has again authorised OMCs to continue to increase the effective price of subsidised domestic LPG by Rs 4 per cylinder effective June 1, 2017, per month (excluding VAT) till the reduction of government subsidy to nil, or till March 2018, or till further orders, whichever is earliest," he said.

France Finally Admits Georgia is the Cradle of Wine-Making at New Exhibition

France's Cite de Vin museum will toast Georgia's 9,000-year history as the global birthplace of wine-making in a new exhibition from Monday July 31,2017

The wine history museum in the southwestern city of Bordeaux -- dubbed ‘adult Disneyland’ when it opened last year -- will showcase 125 objects from the Black Sea nation dating back as far as the Neolithic era.

"We're trying to show how much the phenomenon of wine has been an inseparable part of daily Georgian life and culture since the very beginning," exhibit commissioner Nino Lordkipanidze told 

More than 39,000 people flocked to the museum in the French wine capital this year to see its first major exhibition, ‘Bistrot!’, gathering works of art portraying cafes and bars over the ages.

The Georgia show will see pottery fragments dating back to the 6th century BC -- containing traces of tartaric acid, proof of the presence of wine -- go on display for the first time. 

It will also feature a partially-reconstructed ‘marani’, or Georgian wine cellar, and the large egg-shaped clay pots known as ‘kvevri’ that are still used by Georgian wine-makers today

The museum is also putting on a series of talks, concerts, film screenings and, of course, wine tastings. 

Archaeological finds have shown that viticulture in Georgia dates as far back as 7,000 BC, well before western Europeans were even thinking about having a tipple. Grapevine tendrils have even been found buried next to human remains. 
"The vine accompanied the buried person in their journey to the hereafter," Lordkipanidze said.

Early Georgians mulched grapes in their entirety -- juice, skins, pips, stems and all -- and left the mix to ferment in kvevri, stored in underground pits to keep the liquid cool.

 The pots and the process are still used nowadays for reds and whites, and as the taste for naturally-made wines spreads globally, winemakers as far afield as Australia and Italy are mimicking the old technology. 

The kvevri clay-pot method of fermenting wine won a place in 2013 on UNESCO's list of the ‘intangible cultural heritage of humanity’.

2017-18 Premier League - Nemanja Matic Signs for Manchester United From Chelsea

Manchester United have completed the purchase of Nemanja Matic from Chelsea for £40m on a three-year deal, with an option to extend for a further year.

José Mourinho expressed his delight at signing the midfielder by telling United’s website: “Nemanja is a Manchester United player and a José Mourinho player. He represents everything we want in a footballer: loyalty, consistency, ambition, team player.

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“I would like to thank him for his desire to join us because without that it would be impossible to have him here. I am sure our players and supporters will love him. A big welcome to our new No31.”

Matic’s signing represents a significant boost to Mourinho after United failed in their efforts to purchase Eric Dier from Tottenham Hotspur. Juventus were also keen on Matic but the player, who will be 29 on Tuesday, preferred a move to Old Trafford and being reunited with Mourinho. He was a key component of Chelsea’s title-winning team in 2014-15 after being brought back to the club in January 2014. Chelsea were particularly keen to drive a hard bargain with United after missing out to them over the signing of Romelu Lukaku.

Matic said: “I am delighted to have joined Manchester United. To work with José Mourinho once again was an opportunity I couldn’t turn down.

“I have enjoyed my time at Chelsea and would like to thank the club and the fans for their support. I cannot wait to meet my new team-mates and to start training with them.This is a very exciting time for the club and I am looking forward to playing my part in creating more history for this great club.”

Matic’s Stamford Bridge exit had long been expected after the Chelsea manager Antonio Conte signed the France international Tiemoué Bakayoko from Monaco in a £39.7m deal last month. A picture circulated on Twitter purporting to show Matic in United training kit and wearing No31, which has been vacant since the departure of Bastian Schweinsteiger. Chelsea had left Matic out of their tour to Asia to allow him to finalise a move.

He becomes United’s third signing of the summer following a £31m deal for the Defender Victor Lindelof and the £ 75 Million move for Lukaku from Everton.

 The Serbian could make his debut against Sampdoria in Dublin on Wednesday or in the Uefa Super Cup against Real Madrid next week.

Matic was a key component of Chelsea’s title-winning team in 2014-15 after Mourinho brought him back to the club from Benfica for £20.75m.