The Hindu : Front Page : First price rise after oil companies get limited freedom

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Sunday, Aug 01, 2004

Front Page

Front Page

First price rise after oil companies get limited freedom

By Our Special Correspondent

NEW DELHI, JULY 31. Oil companies today increased the petrol and diesel prices in line with the rise in international fuel prices.

This is the second price revision after the United Progressive Alliance Government assumed office and had to take a decision on raising the prices which were frozen since January this year by the previous Government.

However, this is the first price revision after the Government granted the limited freedom to the oil companies to fix the prices within a 10 per cent band without clearance from it.

The new prices will come into effect from midnight tonight.

With the latest hike of Rs. 1.10, petrol prices in Delhi will go up to Rs. 36.81 a litre and diesel will cost Rs. 24.16 against Rs. 22.74 a litre now because of the increase of Rs. 1.42.

In Chennai, a Rs. 1.19 a litre hike will mean petrol being sold at Rs. 40.15 and diesel at Rs. 26.93 a litre against Rs. 25.35 currently, the increase being Rs.1.58.

Petrol prices in Mumbai will go up by Rs. 1.19 a litre to Rs. 42.15 while diesel will cost Rs. 1.69 more at Rs. 30.31 a litre against Rs. 28.62 now.

In Kolkata, a litre of petrol will cost Rs. 39.83 compared to Rs. 38.69 now because of the Rs. 1.14 hike. Diesel will cost Rs. 26.51 a litre, the increase being Rs. 1.48.

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