Petrol and diesel prices up
Posted on: 01/Jun/2013 5:12:08 PM
With effect from midnght tonight, petrol prices will be increased by 75 paisa per litre and diesel by 50 paisa per litre. The increase in petrol is the first since March 1st this year, while this is the fifth time this year that diesel prices have been increased.
A litre of petrol now cost Rs. 66.85 in Chennai and a litre of diesel costs Rs. 53.53.
‘The increase in rates, which are excluding local sales tax or VAT, will be effective from midnight tonight… Prices of petrol were last revised downwards on May 1 by Rs 2.50 per litre (excluding state levies). The current increase is required mainly due to depreciation of rupee from Rs 54.26 to a US dollar to Rs 55.32 per USD… In addition to diesel, oil marketing companies continue to suffer under-recovery (loss) on sale of kerosene of Rs 27.75 per litre and LPG of Rs 334.50 per cylinder’, said the Indian Oil Corporation.
