News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Front Page
Petrol prices cut by Rs.5, diesel by Rs.2
Special Correspondent
NEW DELHI: Responding to the demands for fuel price cuts, the government on Friday cut the retail price of petrol by Rs.5 a litre and that of high speed diesel by Rs.2 a litre terming it as an “interim measure” in view of the current volatility in the international crude oil markets across the globe.
The price cut would come into effect from midnight on Friday and would lead to a revenue loss of Rs.6,000 crore to the Oil Marketing Companies (OMCs) in the current fiscal. The total under recoveries is expected to be around Rs.1.10 lakh crore.
The matter of fuel price cut had come up for discussion during the meeting of the Union Cabinet on Thursday and after a formal nod from Prime Minister Manmohan Singh, Petroleum and Natural Gas Minister Murli Deora announced the decision on Friday.
However, there was little relief for the housewives as the government refrained from any cut in the prices of domestic LPG cylinder and kerosene.
Currently, crude oil prices in the international market are ruling at $43.5 a barrel and the Indian basket has fallen to almost $41.53 a barrel.
“The petrol and diesel prices have been cut keeping in tune with the falling crude oil prices in the international markets. This is an interim measure subject to further review. We are monitoring the crude oil prices and will take a decision at an appropriate time,” Mr. Deora said.
With the latest cut, the price of petrol in Delhi will come down to Rs. 45.62 a litre and diesel Rs. 32.86. In Chennai, petrol will cost Rs. 49.66 and diesel Rs. 34.98; in Kolkata petrol will cost Rs. 47 and diesel Rs. 33.74 and in Mumbai petrol will cost Rs. 49.80 and diesel Rs. 36.69.
Printer friendly
page
Send this article to Friends by
E-Mail
Front Page
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Updates:
Breaking News |
|
