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Media Focus on Trump Has Been Remarkably Stable

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The Era of Trump has been a blessing for America’s news media, giving them a never-ending stream of stories that have captivated the public. Just over two years into Donald Trump’s presidency, it seems the media and the public have yet to get bored with him.

The timeline below shows the total percentage of airtime of CNN, MSNBC and Fox News mentioning Trump by month since May 2015, using data from the Internet Archive’s Television News Archive. Coverage of the then-candidate increased steeply from his June 2015 announcement through his November 2016 election, then decreased through June 2017 before essentially stabilizing through the present.

During his candidacy, all three channels covered him fairly closely, though Fox News has always mentioned the president less often than the other two. In May 2017, MSNBC took the lead in covering Trump, followed by CNN and then Fox News, with this lineup remaining remarkably consistent ever since.

In total, since May 2015, MSNBC has devoted 7.5 percent of its airtime to mentions of the president, followed by 6.2 percent for CNN and 5.1 percent for Fox News.

Sharp-eyed readers will notice that mentions of the president do appear to be decreasing slowly, especially over the past year. However, it turns out that this decrease is not due to diminished interest in Trump, but rather a shift toward coverage of the issues that involve him, especially the Mueller investigation.

The timeline below shows the combined airtime across MSNBC, CNN and Fox News that mentioned Trump versus the airtime that mentioned Trump plus Mueller.

Immediately clear is that mentions of the president alone have decreased in the Era of Mueller, replaced by discussion of the investigation that centers on him. Overall, however, there has been little change in interest in the president, with around 15 percent of all television airtime across the three news channels mentioning Trump  or the Mueller investigation involving him over the last two years.

Media interest doesn’t always align with the public’s interest, but in the case of President Trump, it appears the latter has similarly remained constant since early 2017. The timeline below shows overall U.S. search interest in the president, using data from Google Trends. Google does not report the raw number of searches, instead reporting the month with the greatest number of searches as 100 percent and reporting the remaining months in relation to it.

Putting this all together, Donald Trump has demonstrated remarkable staying power, with either he or the major issues involving him garnering consistently level coverage for most of the two years of his presidency. The public seems to be similarly captivated, with search interest exhibiting a nearly identical steady stream.

While he has polarized the nation with his policies, it seems Trump has united it in interest in himself.

RealClear Media Fellow Kalev Leetaru is a senior fellow at the George Washington University Center for Cyber & Homeland Security. His past roles include fellow in residence at Georgetown University’s Edmund A. Walsh School of Foreign Service and member of the World Economic Forum’s Global Agenda Council on the Future of Government.

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Obama Praises Young Activists on Earth Day

Former President Barack Obama marked Earth Day on Monday with praise for young activists "stepping up to save the one planet we've got."

Obama tweeted:

"Young people all over the world are leading the way in the fight to protect our planet because they know their future depends on it. This Earth Day, I want to celebrate the courageous, committed young leaders who are stepping up to save the one planet we've got."

In particular, Obama lauded Greta Thunberg, a Swedish teen who helped fuel an interest in young people to fight climate change. 

"They're people like 16-year-old @GretaThunberg, whose protests at Swedish parliament sparked a movement," Obama wrote in a separate tweet. 

"Inspired by Greta's action, Fridays for Future brought together more than a million strikers on every continent last month to demand action on climate."

The former commander-in-chief's message was in contrast with that of President Donald Trump, whose Earth Day tweet stressed "historic economic and job growth," but made no mention of climate change.

"Environmental protection and economic prosperity go hand in hand," Trump said in a statement issued Monday. "A strong market economy is essential to protecting our critical natural resources and fostering a legacy of conservation."

Source: NewsMax America

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Infowars Reporter Assaulted & Blamed for New Zealand Massacre

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911 call of 4 slain at North Dakota business not released

Police on Thursday declined to release details of a 911 call that alerted authorities to the slayings of four people at a North Dakota business, a mystery about which little information has been disclosed.

The bodies of an owner and three employees were found early Monday at RJR Maintenance and Management in Mandan, a city of 22,000 people just across the Missouri River from the state capital of Bismarck. Police haven't said how they were killed or suggested a possible motive, and they haven't identified any suspects. They have said the killer is not among the dead, but maintain that the public is not in danger.

The Associated Press asked for audio and a transcript of the 911 call, but police denied the request, citing a provision of the state's open records law that allows authorities to withhold such information during an active investigation.

Deputy Police Chief Lori Flaten did confirm that a Wednesday search in a field about half a mile from the business was related to the investigation. State and local police at the scene were "looking for potential evidence," she said, without elaborating.

Police have identified the dead as Robert Fakler, 52, co-owner of the property management business; employee Adam Fuehrer, 42; and married workers Lois Cobb, 45, and William Cobb, 50. A combined memorial service will be held Tuesday at Bismarck Community Church, according to Eastgate Funeral and Cremation Service.

___

Follow Blake Nicholson on Twitter at: http://twitter.com/NicholsonBlake

Source: Fox News National

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Prosecutors drop all charges in deadly Waco biker shootout

Prosecutors say no one will be punished for the 2015 shootout between rival biker gangs in Waco, Texas, that left nine people dead and at least 20 injured.

McLennan County District Attorney Barry Johnson said in a statement Tuesday that he's dropping all remaining charges, and that any further effort to prosecute would be a "waste of time, effort and resources."

Law enforcement officials arrested 177 bikers in the May 2015 shooting outside a Twin Peaks restaurant and charged 155 with engaging in organized criminal activity.

Former District Attorney Abel Reyna dropped charges against all but 24 of the bikers and chose to re-indict them on a riot charge . These are the 24 cases Johnson is dropping.

Only one case was prosecuted in court and that ended in a mistrial.

Source: Fox News National

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Karl Rove: Trump is right, Republicans need a plan for health care

After President Trump warned that the GOP needs to take up health care reform or risk getting "clobbered," Karl Rove agreed Wednesday, adding that Republicans need to do all they can to diminish the advantage Democrats now hold on health care ahead of the 2020 election.

"He's right that the party has to have an answer on health care," the former White House Deputy Chief of Staff to President George W. Bush told "America's Newsroom."

TRUMP DOUBLES DOWN ON THREAT TO CLOSE BORDER: 'THIS IS A NATIONAL EMERGENCY!'

The Fox News contributor pointed out that health care is the number two issue for voters, with jobs and the economy being first.

"I've long argued the Republican Party needs to do a better job on health care," Rove said. "However, you have to have a plan and the problem is the administration went out and said let's vote on it without having a plan. Health care is complicated and you better have thought this thing through...otherwise you're not able to move forward."

Trump doubled down Wednesday morning, saying he believes health care "will be a great campaign issue" for Republicans.

Leading up to the election, Rove said, Republicans need to have "incremental improvements in the health care system...that make sense to ordinary Americans."

Sen. John Thune, R-S.D., told Fox News earlier in the day the president would like to pass health care now but has one big hurdle.

SEN. THUNE: REPUBLICANS MUST WIN HOUSE IN 2020 TO GET HEALTHCARE REFORM

"The challenge he has right now is he's running into the political obstacle of a Democrat-controlled House whose idea for health care reform is a $36 trillion one-size-fits-all government-run plan that would take health insurance coverage away from 180 million Americans," Thune said.

Rove believes Republicans need to do a better job attacking Democrats on "Medicare for all," adding it was really "single-payer, government-run health care" that will end in "delays, rationing, long waits getting in to see your doctor for a procedure."

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But, he said, they need to couple it with Republican ideas of how to put the patient in charge and how to improve the health care system.

"The battle for 2020 is going to depend, not by taking this issue away from Democrats -- never going to be able to do that -- but diminishing their advantage on this issue...Democrats have a big advantage on health care. It is useful to reduce that advantage as we go into the 2020 election."

Source: Fox News Politics

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Iraq begins legal proceedings against 14 French Islamic State fighters: sources

FILE PHOTO: A member of the Iraqi security forces passed by bridges destroyed in the war with Islamic State, in the Old City of Mosu
FILE PHOTO: A member of the Iraqi security forces passed by bridges destroyed in the war with Islamic State, in the Old City of Mosul, Iraq, February 27, 2019. REUTERS/Khalid al-Mousily/File Photo

March 15, 2019

By Ahmed Rasheed

BAGHDAD (Reuters) – Iraq has begun court proceedings against 14 suspected French members of the Islamic State (IS) jihadist group captured by U.S.-backed forces and transferred to Iraq from Syria last month, two legal sources said.

The men appeared before an investigative judge of Baghdad’s anti-terrorism court on March 6 in a procedural step toward putting them on trial, according to a court-appointed lawyer who attended the session and a member of the judicial council.

All 14 signed confessions saying they had been in Mosul when it was under Islamic State rule from 2014 to 2017, according to the two legal sources, speaking on condition of anonymity.

If they are tried in Iraq and found guilty of having committed crimes against Iraq and the Iraqi people, they could face the death penalty, said the judicial council member.

“The course of investigations and indictment are leaning towards handing them the death sentence eventually,” said the court-appointed lawyer.

Iraqi President Barham Salih said this month that convicted foreign fighters could be sentenced to death in Iraq.

Islamic State redrew the map of the Middle East in 2014 when it declared an ultra-radical Sunni Islamist “caliphate” spanning parts of Syria and Iraq and established a rule known for mass killings, sexual enslavement and punishments like crucifixion.

Security sources said the 14 stand accused by the Iraqi National Intelligence Service of carrying out “terrorist acts” in Mosul and running some of Islamic State’s financial affairs.

The French Foreign Ministry declined to comment, saying it was entirely an Iraqi legal matter.

The 14 were among 280 Iraqi and foreign detainees handed over to Iraq by the U.S.-backed Syrian Democratic Forces, who are now close to capturing the last small patch of IS-held territory in Baghouz near the border with Iraq. [nL8N21121F]

Iraqi officials have said they will either help repatriate non-Iraqi IS detainees to their home countries or prosecute those suspected of having committed crimes against Iraqis.

The written confession of one of the suspected militants, made available to Reuters by a lawyer, indicated he was a French national of Tunisian origin and had served as a soldier in the French army from 2000 to 2010, including a tour in Afghanistan in 2009.

He decided to join Islamist militants in Syria after watching many videos produced by the al Qaeda-linked Nusra Front group, according to the written confession, which added that he participated in the battle for Mosul, without elaborating.

Another confession, of a Frenchman of Algerian origin, said he left France for Turkey and then Syria in 2013 after being watching jihadist videos online, and then joined IS in Mosul.

Baghdad-based security analyst Hisham al-Hashimi, who advises the government on Islamic State, said that the 14 Frenchmen were unlikely to have held senior positions in IS.

(Additional reporting by John Irish in Paris; Writing by John Davison; Editing by Mark Heinrich)

Source: OANN

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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)

Source: OANN

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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)

Source: OANN

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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)

Source: OANN

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