Monday, 30 June 2014

Steep hike in price of Petrol by Rs1.69 per litre and Diesel by 50 paise

Unknown 12:53 pm , , No comments :
Petrol price to be hiked from midnight tonight
NEW DELHI: Petrol price on monday was hiked by Rs1.69 per litre and Diesel around 50 paise a litre, It is effective from midnight tonight, exclusive of local sales tax VAT and actual increase, the cost will be higher or lower varying from city to city.
Because of geo-political unrest in the Middle East, there has been steep increase in international oil prices during the past 2 weeks. As the crisis in Iraq spooked international oil and currency markets. The international prices of Gasoline (petrol) have been increased by more than $4 per each barrel, and the dollar exchange rate has also been deteriorated. combinig impact of both of these factors led to increase in petrol and diesel prices by Rs 1.69 and 57.84 respectively


Indian Oil Corp IOC, the nation's largest oil firm, said besides diesel the oil firms loose Rs 33.07 a litre on kerosene that is sold through the public distribution systems (PDS) and Rs 449 per 14.2-kg domestic subsidised LPG (cooking gas) cylinder.
The indian oil corp said at current prices the industries like Hindustan Petroleum (HP), Bharat Petroleum and indian oil corp itself are projected to end with Rs 1,07,850 crore of revenue losses.

Petrol in Delhi will cost Rs 73.58 per litre, up Rs 2.02 from Rs 71.56 at present. Diesel rates will go up by 56 paise per litre.
Expected list of rates that are high in tndia

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