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Sanders nabs top spot in new Dems poll as Pete Buttigieg gains momentum

A new poll released Monday has Sen. Bernie Sanders, I-Vt., leading the 2020 Democratic presidential field, ahead of former Vice President Joe Biden, former Texas Rep. Beto O’Rourke, Sen. Kamala Harris of California and more than a dozen other potential White House challengers.

The poll, which was conducted by Emerson Polling, puts Sanders atop the already crowded Democratic field with 29 percent, followed by Biden – who has yet to declare his candidacy -- with 24 percent and a surging South Bend, Ind. Mayor Pete Buttigieg rounding off the top three with nine percent.

O’Rourke and Harris garnered eight percent, while Sen. Elizabeth Warren, D-Mass., pulled in seven percent.

WHAT TO KNOW ABOUT BERNIE SANDERS' FOX NEWS TOWN HALL 

The polling indicates that Sanders, who will appear Monday evening at a Fox News Town Hall, has a broader appeal than just his Democratic Socialist base and that his message about trade, unions, working families and health care is resonating with Democratic voters. Last week, Sanders launched a revamped “Medicare for All” plan that would replace job-based and individual private health insurance with a government-run plan that guarantees coverage for all with no premiums, deductibles and only minimal copays for certain services. In this latest version, Sanders added coverage for long-term care.

Besides Sanders plucking the top spot in the poll, the other big news from the Emerson survey was the rise of Pete Buttigieg. Affectionately known to his fans as Mayor Pete, the poll is another piece of good news for the once thought-to-be longshot candidate who officially declared his White House intentions on Sunday.

PETE BUTTIGIEG FORMALLY ANNOUNCES 2020 PRESIDENTIAL RUN

Within hours of announcing his candidacy, Buttigieg’s campaign tweeted that it had received $1 million in grassroots donations.

In a speech announcing his run, Buttigieg highlighted both his progressive values and Midwestern upbringing.

"I ran for mayor in 2011 knowing that nothing like Studebaker would ever come back—but believing that we would, our city would, if we had the courage to reimagine our future," Buttigieg said in a speech inside South Bend's Studebaker auto plant. "And now, I can confidently say that South Bend is back."

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He added: "There’s a long way for us to go. Life here is far from perfect. But, we’ve changed our trajectory, and shown a path forward for communities like ours."

The 37-year-old Afghanistan War veteran, who has been exploring a White House run since January, now joins the field of a dozen-plus rivals and one that is likely to reach 20 or more.

Source: Fox News Politics

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Dissident Republican ‘IRA’ claims responsibility for London, Glasgow letter bombs

Emergency responders are seen outside Glasgow University, in Glasgow
Emergency responders are seen outside Glasgow University, in Glasgow, Scotland, Britain, March 6, 2019 in this picture obtained from social media. Lilli Schlossbach/via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

March 12, 2019

LONDON (Reuters) – A dissident Republican group calling itself the “IRA” has claimed responsibility for recent letter bombs sent to buildings in London and the University of Glasgow.

“The claim was allegedly made on behalf of the ‘IRA’,” British police said.

The group, which calls itself the IRA, is made up of militants opposed to Northern Ireland’s 1998 peace deal.

It is separate and far smaller than the Provisional IRA, which was responsible for almost half of the 3,600 deaths during the 30 years of violence and which disbanded after the peace deal.

(Reporting by Elisabeth O’Leary; editing by Guy Faulconbridge)

Source: OANN

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Canadian court dismisses $9.5 billion Ecuadorian claim against Chevron Canada

FILE PHOTO: A Chevron refinery is seen on Burrard Inlet in Burnaby
FILE PHOTO: A Chevron refinery is seen on Burrard Inlet in Burnaby, British Columbia, Canada November 18, 2016. REUTERS/Chris Helgren

April 4, 2019

By Nia Williams

CALGARY, Alberta (Reuters) – The Supreme Court of Canada on Thursday dismissed all claims attempting to force Chevron Corp’s Canadian unit to pay a $9.5 billion judgment handed down in Ecuador against the U.S. oil major over pollution in the Andean country.

The ruling draws a line under attempts to sue Chevron through its Canadian unit.

Residents of Ecuador’s Lago Agrio region have been trying to force Chevron to pay for water and soil contamination caused from 1964 to 1992 by Texaco, which Chevron acquired in 2001.

The villagers obtained a judgment against Chevron in Ecuador in 2011. But the company has no assets in the country, and the villagers have been trying to sue it in the United States, Canada, Brazil and Argentina to enforce the decision.

The Court of Appeal for Ontario ruled in 2017 that Chevron Canada is a separate entity to its parent company and its shares and assets could not be seized by those seeking to enforce the Ecuadorian judgment.

Canada’s highest court rejected a request to review that decision, which is now final.

“Any further efforts by the plaintiffs’ lawyers to continue this lawsuit in Canada would be an abuse of the country’s legal system and a waste of its judicial resources,” said R. Hewitt Pate, Chevron’s vice president and general counsel.

The decision comes after an international tribunal last year unanimously ruled that the pollution judgment by Ecuador’s Supreme Court against Chevron was procured through fraud, bribery and corruption.

Texaco was released from liability through a settlement with Ecuador years earlier, the tribunal found.

(Editing by David Gregorio)

Source: OANN

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Former Vice President Joe Biden to make third run for the White House

FILE PHOTO: Former U.S. Vice President Joe Biden speaks at a rally with striking Stop & Shop workers in Boston
FILE PHOTO: Former U.S. Vice President Joe Biden, a potential 2020 Democratic presidential candidate, speaks at a rally with striking Stop & Shop workers in Boston, Massachusetts, U.S., April 18, 2019. REUTERS/Brian Snyder

April 25, 2019

By John Whitesides and James Oliphant

WASHINGTON (Reuters) – Former Vice President Joe Biden, a moderate Democrat who has made his appeal to the disaffected working-class voters who deserted the party in 2016 a key part of his political identity, is set to launch his third run for the White House on Thursday.

Biden will announce his bid by video, according to a source familiar with the plans. He then is expected to make his first public appearance as a candidate on Monday at an event in Pittsburgh featuring union members, a key constituency.

Biden, 76, had been wrestling for months over whether to run. His candidacy will face numerous questions, including whether he is too old and too centrist for a Democratic Party yearning for fresh faces and increasingly propelled by its more vocal liberal wing.

Still, he starts as the leader of the pack in opinion polls of a Democratic field that now will total 20 contenders seeking the chance to challenge President Donald Trump, the likely Republican nominee, in November 2020. [nL1N2260LS]

Critics say Biden’s standing in polls is largely a function of name recognition for the former U.S. senator from Delaware, whose more than four decades in public service includes eight years as President Barack Obama’s No. 2 in the White House.

As speculation about his bid mounted, Biden faced new questions about his longtime propensity for touching and kissing strangers at political events, with several women coming forward to say he had made them feel uncomfortable.

Biden struggled in his response to the concerns, at times joking about his behavior. But ultimately, he apologized and said he recognized standards for personal conduct had evolved in the wake of the #MeToo movement. [nL1N21L1HG]

Trump and his allies seized on the flap, attempting to weaken perhaps his top rival before Biden entered the race.

Even so, Biden was determined to push forward, arguing his background, experience and resume best positioned him to take on Trump next year.

In a speech to union members in April, Biden called Trump a “tragedy in two acts.”

“This country can’t afford more years of a president looking to settle personal scores,” he said.

Biden’s candidacy will offer early hints about whether Democrats are more interested in finding a centrist who can win over the white working-class voters who went for Trump in 2016, or someone who can fire up the party’s diverse progressive wing, such as Senators Kamala Harris of California, Bernie Sanders of Vermont or Elizabeth Warren of Massachusetts.

Biden’s long history in the Senate, where he was a leading voice on foreign policy, will give liberal activists plenty to criticize. As Senate Judiciary Committee chairman, he angered women’s rights activists with his handling of sexual harassment allegations against Clarence Thomas during the justice’s 1991 Supreme Court confirmation hearings.

He also has been criticized for his ties to the financial industry, which is prominent in his home state of Delaware, and for his authorship of the 1994 crime act that led to increased incarceration rates.

Biden has been one of the party’s more aggressive Trump critics. Last year, he said he would “beat the hell” out of Trump if the two were in high school because of the way the president has talked about women. That prompted Trump to call him “Crazy Joe Biden” and claim on Twitter that Biden would “go down fast and hard, crying all the way” if they fought.

Biden later lamented the exchange, saying “I shouldn’t get down in the mosh pit with this guy.”

Known for his verbal gaffes on the campaign trail, Biden failed to gain traction with voters during his previous runs in 1988 and 2008.

He dropped his 1988 bid amid allegations he plagiarized some of his stump oratory and early academic work. But his experience and strong debate performances in 2008 impressed Obama enough that he tapped Biden as his running mate.

Biden decided against a 2016 presidential bid after a lengthy public period of indecision as he wrestled with doubts about whether he and his family were ready for a grueling campaign while mourning his son Beau, who died of brain cancer in May 2015. His son had urged him to run.

Biden faced some of the same family considerations this time around, as he is still coping with Beau’s death while his other son, Hunter, has gone through a divorce amid a reported relationship with Beau’s widow.

(Reporting by John Whitesides and James Oliphant; Editing by Colleen Jenkins and Jonathan Oatis)

Source: OANN

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Jail for JFK Zapruder Film: If Today’s Censorship Standards Had Been Used

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Source: InfoWars

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Collusion? Russians Gave $35 Million to Company with John Podesta on Board

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Trump's wall prototypes to come down along US-Mexico border

The eight border-wall prototypes President Donald Trump inspected during a visit to California in March are going to be torn down to make way for a second barrier separating California and Mexico, the U.S. Department of Customs and Border Protection said Friday.

Construction crews have replaced one layer of fencing along a 14-mile stretch of the border separating Mexico and California. Crews recently started work on replacing and extending secondary fence as well.

Border Patrol Agent Theron Francisco said Friday it isn't clear when the prototypes will come down. But he added money has already been set aside for their removal.

The San Diego Union-Tribune reported Friday they cost between $300,000 and $500,000 apiece to build.

"There is money already allocated to either take them down or build infrastructure around them. But the decision has been made at the national level to take them down, and the secondary replacement project will take their place," Francisco said.

Trump declared an emergency last week to shift billions of dollars to fund border wall construction.

The Democrat-controlled House of Representatives is set to vote next week on whether to block that declaration. Some members of the Republican-controlled Senate have indicated it could pass that body as well.

If it does, Trump has promised to veto the measure.

Source: Fox News National

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Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London
Members of The Cranberries, bassist Mike Hogan, drummer Fergal Lawler and guitarist Noel Hogan speak to Reuters during an interview in London, Britain, April 24, 2019. REUTERS/Gerhard Mey

April 26, 2019

By Hanna Rantala

LONDON (Reuters) – Irish rockers The Cranberries are saying goodbye with their final album released on Friday, a poignant tribute to lead singer Dolores O’Riordan who died last year.

“In the End” is the eighth studio album from the band that rose to fame in the early 1990s with hits likes “Zombie” and “Linger”, and includes the final recordings by O’Riordan, who drowned in a London hotel bath in January 2018 due to alcohol intoxication.

Work on the album began during a 2017 tour and by that winter, O’Riordan and guitarist Neil Hogan had penned and demoed 11 tracks.

With O’Riordan’s vocals recorded, Hogan, bassist Mike Hogan and drummer Fergal Lawler completed the album in tribute to her.

“When we realized how strong the songs were, that was the deciding factor really… There was no point… trying to ruin the legacy of the band,” Noel Hogan said in an interview.

“It was obvious that Dolores wanted this album done because when you hear the album, you hear the songs and how strong they are, and she was very, very excited to get in and record this.”

The Cranberries formed in Limerick in 1989 with another singer. O’Riordan replaced him a year later and the group went on to become Ireland’s best-selling rock band after U2, selling more than 40 million records.

O’Riordan, known for her strong distinctive voice singing about relationships or political violence, was 46 when she died.

“She was actually in quite a good place mentally. She was feeling quite content and strong and looking forward to a new phase of her life,” Lawler said.

“A lot of the lyrics in this album are about things ending… people might read into it differently but it was a phase of her personal life that she was talking about.”

The group previously announced their intention to split after the release of “In The End”.

“We are absolutely gutted we can’t play (the songs) live because that’s something that’s been a massive part of this band from day one,” Noel Hogan said.

“A few people have said to us about maybe even doing a one off where you have different vocalists… as kind of guests of ours. A year ago that’s definitely something we weren’t going to entertain but I don’t know, I think it’s something we need to go away and take time off for the summer and have a think about.”

Critics have generally given positive reviews of the album; NME described it as “(seeing) the band’s career go full-circle” while the Irish Times called it “an unexpected late career high and a remarkable swan song for O’Riordan”.

Their early songs still play on the radio. This week, “Dreams” was performed at the funeral of journalist Lyra McKee, who was shot dead in Londonderry last week as she watched Irish nationalist youths attack police following a raid.

“We wrote them as kids, as a hobby and 30 years later they are on radio and on TV, like all the time… That’s far more than any of us ever thought we would have,” Noel Hogan said.

“That would make Dolores really happy because she was very precious about those songs. Her babies, she called them and to have that hopefully long after we’re gone… that’s all any band can wish for.”

(Reporting by Hanna Rantala; additoinal reporting by Marie-Louise Gumuchian; Writing by Marie-Louise Gumuchian; Editing by Susan Fenton)

Source: OANN

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2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston
2020 Democratic presidential candidate Elizabeth Warren participates in the She the People Presidential Forum in Houston, Texas, U.S. April 24, 2019. REUTERS/Loren Elliott

April 26, 2019

By Joshua Schneyer and M.B. Pell

NEW YORK (Reuters) – Senator Elizabeth Warren will introduce a bill Friday that offers new protections for U.S. military families facing unsafe housing, following a series of Reuters reports revealing squalid conditions in privately managed base homes.

The Reuters reports and later Congressional hearings detailed widespread hazards including lead paint exposure, vermin infestations, collapsing ceilings, mold and maintenance lapses in privatized base housing communities that serve some 700,000 U.S. military family members.

(View Warren’s military housing bill here. https://tmsnrt.rs/2Dy5aht)

(Read Reuters’ Ambushed at Home series on military housing here. https://www.reuters.com/investigates/section/usa-military)

The Massachusetts Democrat’s bill would mandate both regular and unannounced spot inspections of base homes by certified, independent inspectors, holding landlords accountable for quickly fixing hazards. The military’s privatization program for years allowed real estate firms to operate base housing with scant oversight, Reuters found, leaving some tenants in unsafe homes with little recourse against landlords.

The bill would also require the Department of Defense and its private housing operators to publish reports annually detailing housing conditions, tenant complaints, maintenance response times and the financial incentives companies receive at each base. The provisions aim to enhance transparency of housing deals whose finances and operations the military had allowed to remain largely confidential under a privatization program since the late 1990s.

The measure would also require private landlords to cover moving costs for at-risk families, and healthcare costs for people with medical conditions resulting from unsafe base housing, ensuring they receive continuing coverage even after they leave the homes or the military.

“This bill will eliminate the kind of corner-cutting and neglect the Defense Department should never have let these private housing partners get away with in the first place,” Warren said in a statement Friday.

The proposed legislation comes after February Senate hearings where Warren, a member of the Senate Armed Services Committee who is seeking the Democratic nomination for the 2020 U.S. presidential election, slammed private real estate firms for endangering service families, and sought answers about why military branches weren’t providing more oversight.

Her legislation would direct the Defense Department to allow local housing code enforcers onto federal bases, following concerns they were sometimes denied access. Warren’s office said a companion bill in the House of Representatives would be introduced by Rep. Deb Haaland, Democrat of New Mexico.

In response to the housing crisis, military branches are developing a tenant bill of rights and hiring hundreds of new housing staff. The branches recently dispatched commanders to survey base housing worldwide for safety hazards, resulting in thousands of work orders and hundreds of tenants being moved. The Defense Department has pledged to renegotiate its 50-year contracts with private real estate firms.

Congress has been quick to take its own measures. Earlier legislation proposed by senators Dianne Feinstein and Kamala Harris of California, along with Mark Warner and Tim Kaine of Virginia, would compel base commanders to withhold rent payments and incentive fees from the private ventures if they allow home hazards to persist.

(Editing by Ronnie Greene)

Source: OANN

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FILE PHOTO: Offices of Deloitte are seen in London
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay/File Photo

April 26, 2019

By Noor Zainab Hussain and Tanishaa Nadkar

(Reuters) – Deloitte quit as Ferrexpo’s auditor on Friday, knocking its shares by more than 20 percent, days after saying it was unable to conclude whether the iron ore miner’s CEO controlled a charity being investigated over its use of company donations.

Blooming Land, which coordinates Ferrexpo’s Corporate Social Responsibility (CSR) program, came under scrutiny after auditors found holes in the charity’s statements.

Ferrexpo on Tuesday said findings of an ongoing independent investigation launched in February indicated some Blooming Land funds could have been “misappropriated”. It did not provide any details or publish its findings.

Shares in Ferrexpo, the third largest exporter of pellets to the global steel industry, were 23.4 percent lower at 206.1 pence at 1022 GMT following news of Deloitte’s resignation.

“Ferrexpo’s shares are deeply discounted vs peers … following the resignation of Deloitte, we expect downside risks to dominate Ferrexpo’s shares near term.” JP Morgan analyst Dominic O’Kane said in a note on Friday.

Swiss-headquartered Ferrexpo did not provide a reason for the resignation of Deloitte, which declined to comment, while Blooming Land did not respond to a request for comment.

Funding for Blooming Land’s CSR activities is provided by one of Ferrexpo’s units in Ukraine and Khimreaktiv LLC, an entity ultimately controlled by Ferrexpo’s CEO and majority owner Kostyantin Zhevago, Ferrexpo said on Tuesday.

Ferrexpo’s board has found that Zhevago did not have significant influence or control over the charity, but Deloitte said it was unable reach a conclusion on this.

Reuters was not immediately able to contact Zhevago.

In a qualified opinion, a statement addressing an incomplete audit, Deloitte said it had been unable to conclude whether $33.5 million of CSR donations to Blooming Land between 2017 and 2018 was used for “legitimate business payments for charitable purposes”.

Deloitte said on Tuesday that total CSR payments made to Blooming Land by Ferrexpo since 2013 total about $110 million.

Ferrexpo, whose major mines are in Ukraine, has said that the investigation was ongoing and new evidence pointed to potential discrepancies.

Zhevago, 45, who ranked 1,511 on Forbes magazine’s list of billionaires for 2019 with a net worth of $1.4 billion, owns the FC Vorskla soccer club and has been a member of Ukraine’s parliament since 1998.

(Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru and additional reporting by Pavel Polityuk in Kiev; editing by Gopakumar Warrier, Bernard Orr)

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Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba
Children walk past a damaged building in the aftermath of the Cyclone Kenneth in Pemba, Mozambique April 26, 2019 in this still image obtained from social media. SolidarMed via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT. NO RESALES. NO ARCHIVES

April 26, 2019

By Emma Rumney and Stephen Eisenhammer

JOHANNESBURG/LUANDA (Reuters) – Cyclone Kenneth killed at least one person and left a trail of destruction in northern Mozambique, destroying houses, ripping up trees and knocking out power, authorities said on Friday.

The cyclone brought storm surges and wind gusts of up to 280 km per hour (174 mph) when it made landfall on Thursday evening, after killing three people in the island nation of Comoros.

It was the most powerful storm on record to hit Mozambique’s northern coast and came just six weeks after Cyclone Idai battered the impoverished nation, causing devastating floods and killing more than 1,000 people across a swathe of southern Africa.

The World Food Programme warned that Kenneth could dump as much as 600 millimeters of rain on the region over the next 10 days – twice that brought by Cyclone Idai.

One woman in the port town of Pemba died after being hit by a falling tree, the Emergency Operations Committee for Cabo Delgado (COE) said in a statement, while another person was injured.

In rural areas outside Pemba, many homes are made of mud. In the main town on the island of Ibo, 90 percent of the houses were destroyed, officials said. Around 15,000 people were out in the open or in “overcrowded” shelters and there was a need for tents, food and water, they said.

There were also reports of a large number of homes and some infrastructure destroyed in Macomia district, a mainland district adjacent to Ibo.

A local group, the Friends of Pemba Association, had earlier reported that they could not reach people in Muidumbe, a district further inland.

Mark Lowcock, United Nations under-secretary-general for humanitarian affairs, warned the storm could require another major humanitarian operation in Mozambique.

“Cyclone Kenneth marks the first time two cyclones have made landfall in Mozambique during the same season, further stressing the government’s limited resources,” he said in a statement.

FLOOD WARNINGS

Shaquila Alberto, owner of the beach-front Messano Flower Lodge in Macomia, said there were many fallen trees there, and in rural areas people’s homes had been damaged. Some areas of nearby Pemba had no power.

“Even my workers, they said the roof and all the things fell down,” she said by phone.

Further south, in Pemba, Elton Ernesto, a receptionist at Raphael’s Hotel, said there were fallen trees but not too much damage. The hotel had power and water, he said, while phones rang in the background. “The rain has stopped,” he added.

However Michael Charles, an official for the International Federation of the Red Cross and Red Crescent Societies (IFRC), said heavy rains over the next few days were likely to bring a “second wave of destruction” in the form of flooding.

“The houses are not all solid, and the topography is very sandy,” Charles said.

In the days after Cyclone Idai, heavy inland rains prompted rivers to burst their banks, submerging entire villages, cutting areas off from aid and ruining crops. There were concerns the same could happen again in northern Mozambique.

Before Kenneth hit, the government and aid workers moved around 30,000 people to safer buildings such as schools, however authorities said that around 680,000 people were in the path of the storm.

(Reporting by Emma Rumney and Stephen Eisenhammer; Writing by Emma Rumney; Editing by Janet Lawrence and Alexandra Zavis)

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A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas

April 26, 2019

By Manoj Kumar and Nidhi Verma

NEW DELHI (Reuters) – Surging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up.

For oil-import dependent India, higher global prices could lead to a weaker rupee, higher inflation, the ruling out of interest rate cuts and could further weigh on twin current account and budget deficits, economists warned.

But compounding the future pain, state-run fuel suppliers and retailers have held off passing on to consumers the higher prices during a staggered general election, which began on April 11 and ends on May 23, according to sources familiar with the situation.

That delay is expected to be unwound once the election is over. And there could be additional price increases to make up for losses or profits missed during the period of delayed increases, the sources said.

In some major Asian countries, such as Japan and South Korea, pump prices are adjusted periodically so they move largely in tandem with international crude prices.

That was what was supposed to happen in India but the election means there have been many days when pump prices have been unchanged.

In New Delhi, for example, while crude oil prices have gone up by nearly $9 a barrel, or about 12 percent, in the past six weeks, gasoline prices have only risen by 0.47 rupees a liter, or 0.6 percent.

State-controlled fuel suppliers and retailers declined to say why they had delayed price increases, or discuss whether there has been any pressure from the government of Prime Minister Narendra Modi.

A government spokesman declined to comment.

The opposition Congress party said Modi’s government was violating its own policy of daily price revision by advising the state oil companies to hold prices steady.

“The government should cut fuel taxes otherwise consumers will have to pay much higher oil prices once the elections are over,” said Akhilesh Pratap Singh, a senior leader of the Congress party.

(GRAPHIC: India Polls: Fuel price hike lags crude surge – https://tmsnrt.rs/2XLlxik)

Nitin Goyal, treasurer at the All India Petroleum Dealers Association, representing fuel stations in 25 states, said prices were similarly held down for 19 days in the southern state of Karnataka last year, when it held state assembly elections.

Only for them to surge after the vote.

“Consumers should be ready for a rude shock of a massive jump in retail prices, similar to the level we have seen in the Karnataka state election,” Goyal said.

‘CREDIT NEGATIVE’

Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE, said retail prices of gasoline and gasoil prices would have been up to 6 percent, or about 4 rupee, higher if they had been allowed to rise in line with global prices.

“Indian pump prices have failed to keep up with the recent uptrend in crude prices,” Paravaikkarasu said.

“With the country’s general elections underway, the incumbent government has been keeping pump prices relatively unchanged.”

India had switched to a daily price revision in June 2017 from a revision every two weeks, as the government allowed retailers to set prices.

But the government faced protests last October when retailers raised prices by up to 10 rupees a liter after the crude oil price went above $80 a barrel, forcing it to cut fuel taxes.

Global prices rose to their highest level in 2019 on Thursday, days after the United States announced all Iran sanction waivers would end by May, pressuring importers including India to stop buying Tehran’s oil. [O/R]

Higher oil prices will mean Asia’s third largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 percent in the October-December quarter, the slowest in five quarters.

Rating agency CARE has warned that a 10 percent rise in global oil prices could increase demand for dollars, putting pressure on the rupee and widening the current account deficit.

India’s oil import bill rose by nearly one-third in the fiscal year ending March 31 to $140.5 billion, against $108 billion the previous year.

“The increase in international oil prices is a credit negative for the Indian economy,” ICRA, the Indian arm of the Fitch rating agency, said in a note.

“Every $10/ bbl increase in crude oil prices increases the fiscal deficit by about 0.1 percent of GDP.”

Any big price rise would also build a case for the central bank to keep rates steady, or even raise them.

The Reserve Bank of India’s Monetary Policy Committee, which cut the benchmark policy repo rate by 25 basis points this month, warned that rising oil and food prices could push up inflation.

Policymakers are worried that a sustained increase in the oil price in the range of $70-75/barrel or higher can move the rupee down by 3-4 percent on an annual basis.

The rupee has depreciated by 1.24 percent against the dollar since a year high in mid-March.

($1 = 70.1800 Indian rupees)

(Reporting by Manoj Kumar and Nidhi Verma; Editing by Martin Howell and Rob Birsel)

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