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Petrol prices hiked by Rs 1.40 per litre

Discussion in 'World Economy' started by Marqueur, Mar 1, 2013.

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  1. Marqueur

    Marqueur Peaceful Silence ELITE MEMBER

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    New Delhi: Oil marketing companies on Friday decided to raise petrol prices by Rs 1.40 per litre, effective from midnight.(TODAY 1/3/13)

    After this hike, petrol prices in Delhi will cost Rs 70.74 per litre, including 19 percent VAT.

    Fuel prices were last revised on Feb 16 when the rate of petrol was increased by Rs 1.5 per litre and diesel by 45 paise per litre. This is the second hike in fuel prices in 15 days.

    State-owned companies have been compelled to pass on the increase in petrol prices to consumers on account of uptrend in international crude oil prices and weakening of rupee against US dollar.

    "The price increase has been necessitated by two factors -- the international gasoline (petrol) prices have increased from USD 128.57 per barrel to USD 131.00 a barrel since the last revision; and the rupee has depreciated from Rs 53.43 to Rs 54.15 per US Dollar during the period," the statement said.

    Petrol in Mumbai will cost Rs 77.66 a litre as against Rs 75.89 per litre currently.

    "The trends of international oil prices and Rupee-USD exchange rate shall be closely monitored and the same shall be reflected in future price changes," said IOC, the nation's largest oil retailer.

    Apart from losses on sale of petrol, oil firms are suffering under-recovery (revenue loss) on sale of diesel of Rs 11.26 per litre, kerosene of Rs 33.43 a litre and LPG of Rs 439 per cylinder.

    The loss on diesel has risen from Rs 10.72 a litre on February 16, when its rates were increased by 45 paisa excluding VAT.

    IOC said it will end the fiscal with a revenue loss of Rs 86,500 crore on sale of diesel, LPG and kerosene. The industry, comprising of IOC and two other state firms, will be Rs 163,500 crore during current year. -

    Petrol prices hiked by Rs 1.40 per litre
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    GOD help us !!! [​IMG]
     
  2. tunguska

    tunguska Major SENIOR MEMBER

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    Make INR 100 / Liter once for all. Why the hell they are giving slow Poison month by month?
     
  3. DaRk KnIght

    DaRk KnIght Lt. Colonel ELITE MEMBER

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    Pe-trol :troll:
     
  4. Marqueur

    Marqueur Peaceful Silence ELITE MEMBER

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    these guys have liberty to increase fuel prices every 10 min ... common man has to suffer the economical blunders of the gov.
     
  5. G777

    G777 Lt. Colonel ELITE MEMBER

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    Wow, its happeneing in India aswell.
     
  6. WMD

    WMD Captain SENIOR MEMBER

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    what's the price of petrol in UK?
     
  7. Marqueur

    Marqueur Peaceful Silence ELITE MEMBER

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    its a killer troll ... and the fcuking gov. say it has not put any burden on middle class ...

    [​IMG]
     
  8. G777

    G777 Lt. Colonel ELITE MEMBER

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    £1.42 regular
    £1.46 diesel

    Just came back from a bike run.
     
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  9. Skull and Bones

    Skull and Bones Doctor Death Staff Member MODERATOR

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    For the greater purpose of humankind, i'll work on Fuel cell technology. :dude:
     
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  10. Marqueur

    Marqueur Peaceful Silence ELITE MEMBER

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    per gallon or per liter
     
  11. G777

    G777 Lt. Colonel ELITE MEMBER

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    Per liter!
     
  12. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    Good luck, and hurry !!!!!!
     
  13. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    dont say that or they really will
    and after 2 weeks they will say
    fuel prices must be increased to cover deficit
    and will increase it another Rs.2.5
     
  14. The Drdo Guy

    The Drdo Guy Captain SENIOR MEMBER

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    don't woory guys sooner the days will come when mechanical engines engines will be replaced by electrical one's and then common man on this planet will not have to bother about the price of petrochemical fuels.
     
  15. G777

    G777 Lt. Colonel ELITE MEMBER

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    That could have been done years ago, however the govts make more money with petrol. So they will they will delay it.
     
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