Petrol price hiked by Rs.4 and Diesel Rs.2

Consumers have to shell more everytime they fill the tank of their vehicles. Government has increased the prices of petroleum products from midnight Monday. The price of Petrol has been increased by Rs.4 (excluding applicable sales tax) and Diesel has been increased by Rs.2 (excluding applicable sales tax). The government has spared Kerosene and LPG from price hike.

The government has issued oil bonds worth Rs.28000 crores and the subsidy sharing by companies like ONGC, Oil India and GAIL. The last price revision of petroleum products was done in September 2005. With the current increase petrol would cost Rs.51.83 and Diesel Rs.35.95 in Chennai. In capital Delhi, petrol would cost Rs.47.51 and Diesel Rs.32.47. In Kolkata, petrol would cost Rs.51.07 and Diesel Rs.34.96. Mumbai would be the costliest city with Petrol costing Rs.53.5 and Diesel Rs.39.96.

Source : Equity Bulls

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