Friday, 15 February 2013

Petrol prices to raised by Rs 1.50 per liter and Diesel by Rs 0.45 per liter from midnight

It has just been learnt a couple of minutes ago that Petrol prices will be hiked by Rs 1.50 per liter and Diesel will be hiked by Rs 0.45 per liter effective today midnight.

The prices of Diesel were hiked a month where it was also decided to partially free the prices of diesel in India and would be hiked by apprx Rs 0.50 per month till the time the loses are recovered by the state run oil companies.

These companies are currently losing apprx Rs 1.50 per liter on petrol which will now be compensated by the similar amount of hike in petrol prices whereas the state run oil companies are losing apprx; Rs 10 per liter on diesel but the prices will be hiked slowly so that the entire burden is not passed on simultaneously on the consumers and also to keep the inflation under control. Thereby, a move to increase diesel by apprx Rs 0.50 paise per liter.


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