👀DAILY HINDU EDITORIAL WORD BYTES - 1-> 8 MAY👀

💥Daily Word Bytes - 1  from editorial - Price freeze : on high fuel prices💥

freeze (noun) – an act of keeping something at a fixed state.
Hindu Editorial usage :  Price freeze : on high fuel prices

set back (phrasal verb) – delay, hinder, impede.
Hindu Editorial usage :  Abandoning the daily price revision of petrol and diesel sets back an important reform

shoot up (phrasal verb) – rise, go up, soar/surge (price/amount).
Hindu Editorial usage :  The price of oil has been shooting up for weeks now, with Brent crude oil futures hitting their highest level in more than three years on Monday,

Brent crude (noun) – a classification of crude oil produced from the oil platform in the North Sea.
Hindu Editorial usage :  The price of oil has been shooting up for weeks now, with Brent crude oil futures hitting their highest level in more than three years on Monday,

glaring (adjective) – obvious, blatant, flagrant.
Hindu Editorial usage :  This is a glaring freeze, given that since the Centre introduced the dynamic pricing mechanism in June last year allowing oil marketing companies (OMCs) to revise fuel prices daily, 

uptrend (noun) – an upward tendency.
Hindu Editorial usage :   the retail prices of various domestic fuels had been on a steady uptrend owing to the steep rise in international crude oil prices.

owing to (phrase) – because of, as a result of, on account of.
Hindu Editorial usage :   the retail prices of various domestic fuels had been on a steady uptrend owing to the steep rise in international crude oil prices.

steep (adjective) – sharp, sudden, rapid.
Hindu Editorial usage :   the retail prices of various domestic fuels had been on a steady uptrend owing to the steep rise in international crude oil prices.

rally (verb) – increase after a decline.
Hindu Editorial usage :  The price of Brent crude oil, it is worth noting, has rallied by more than 50% since June last year.

volatility (noun) – the state of being legally responsible to change in a very sudden or extreme way.
Hindu Editorial usage :   The new pricing mechanism also caused prices to show more volatility on a daily basis compared to the earlier regime when prices were revised periodically, 

regime (noun) – system, plan, scheme.
Hindu Editorial usage :   The new pricing mechanism also caused prices to show more volatility on a daily basis compared to the earlier regime when prices were revised periodically, 

fortnightly (adjective) – happening every two weeks.
Hindu Editorial usage :  mostly on a fortnightly basis. 

inelastic (adjective) – insensitive/unconcerned to changes in price.
Hindu Editorial usage :   Further, the rise in domestic fuel prices in response to rising crude oil prices has been quite inelastic recently.

keep pace with (phrase) – progress at the same speed as.
Hindu Editorial usage :  generally keep pace with any rise in oil prices.

withhold (verb) – hold back, control, stop.
Hindu Editorial usage :  It is therefore speculated that the OMCs are under pressure from the government to withhold upward revisions in the days before Karnataka goes to the polls

refrain (verb) – stop, desist/abstain, hold back.
Hindu Editorial usage :  OMCs have not been instructed to refrain from raising prices, no reason for the freeze has been offered.

in the wake of (phrase) – aftermath, as a result of, because of.
Hindu Editorial usage :   It bears repeating, in the wake of the upcoming State elections and the general election next year

offload (verb) – transfer, shift, jettison.
Hindu Editorial usage :  After all, it is now clear that the policy of offloading the burden of high fuel prices on consumers by transferring the burden on to the OMCs is unsustainable in the long run

purview (noun) – range, scope, ambit.
Hindu Editorial usage :   The best way to do this might be to bring domestic fuels under the purview of the goods and services tax

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