rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Petrol, diesel prices may go up after polls

Petrol, diesel prices may go up after polls

Last updated on: February 27, 2012 20:18 IST

Petrol, diesel prices may go up after polls

     Next

Next

Petrol and possibly diesel prices are likely to be hiked by Rs 2-4 per litre once Assembly Elections in five states, including Uttar Pradesh, are completed this week.

State-owned oil companies are losing about Rs 4 per litre on petrol, industry officials said.

Oil firms had last revised petrol prices on December 1 after which rates have not been changed because of Assembly Elections.

Click on NEXT for more...




     Next

Petrol, diesel prices may go up after polls

Prev     Next
Prev

Next

The industry, they said, has lost about Rs 900 crore (Rs 9 billion) since the last revision which was done at international gasoline price (the benchmark for deciding domestic retail rates) was $109 per barrel. Gasoline rates have since risen to over $125 a barrel.

"In all probability, petrol price will be increased after assembly polls," an official said.

Another official said diesel rates too may be hiked before the Budget session of Parliament that begins on March 12.

Click on NEXT for more...



Tags: , Parliament

Prev     Next

Petrol, diesel prices may go up after polls

Prev     Next
Prev

Next

State-owned oil firms lose Rs 12.77 per litre on diesel. They also lose Rs 30.21 a litre on kerosene and Rs 378 per 14.2-kg domestic LPG cylinder.

Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum are losing over Rs 410 crore per day on sale of diesel, domestic LPG and kerosene.

Officials said the call on raising diesel prices would be taken by an Empowered Group of Minister (EGoM) as and when it meets while petrol rates would be revised by oil firms themselves.

Click on NEXT for more...




Prev     Next

Petrol, diesel prices may go up after polls

Prev     More
Prev

More

Petrol price were freed from government control in June 2010 but rates have not moved in tandem with imported cost.

While petrol price were last revised on December 1 when they were cut by Rs 0.78 per litre to Rs 65.64 per litre in Delhi, diesel currently costs Rs 40.91 a litre.



Tags: Delhi

Prev     More
© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.