New Delhi, Mar 15 (PTI): Petrol price was today cut by Rs 2 per litre with effect from midnight tonight, the steepest reduction in rates in nine months.
While petrol price has been cut by Rs 2 per litre, excluding local sales tax or VAT, there will be no change in diesel rates.
After including VAT, the reduction in price of petrol in Delhi comes to Rs 2.40 per litre and the fuel will from midnight tonight cost Rs 68.34 per litre as against Rs 70.74 currently.
It was expected that oil firms will also effect the monthly hike of 40-50 paise per litre in diesel rates but they deferred the decision apparently to save the government from trouble in Parliament.
When oil firms had last hiked petrol price on March 2, the Opposition parties had disrupted one full day's proceedings.
The cut in petrol price follows two rounds of hike in rates since February. Petrol price was hiked by Rs 1.50 a litre on February 16 and then by Rs 1.40 per litre from March 2. Both the increases were excluding local VAT.
The reduction in rates was possible as international oil prices have eased. While the slide in international prices of crude oil from USD 112.73 per barrel to USD 107.41 enabled reduction in petrol prices, it also helped lower losses on diesel sales.
Losses on diesel have come down to Rs 8.64 per litre from Rs 11.26 at the beginning of the month, according to Indian Oil Corp (IOC) which announced the price revision.
Oil firms calculate the desired retail price on 1st and 16th of every month based on average imported oil price on the previous fortnight.
Comment on this article
Rayan, Udupi
Sat, Mar 16 2013Good after long time siome relief.
But when prices are raised there are bunds etc now its reduced will the people atleast appreciate the government.
People just wait for fights bunds etc.People just think its loss for us in crores if its there a day bund.Idiots v r.
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Ravi Kotian, Padubidri
Sat, Mar 16 2013SONIA GANDHI & Rs 100 /-
SONIA GANDHI during her speech told a story...
"There was a father who gave 100 rupees each to his 3 sons and
asked them to buy things and fill up a room completely.
First son bought wood for Rs. 100 but couldn't fill the room entirely.
Second son bought cotton for Rs. 100 but couldn't fill the room entirely.
Third son bought a candle for Rs. 1 and lit it up and the room was filled with light completely."
Kapil Sibal added, "RAHUL GANDHI is like the third son,
Since the day he has taken charge of his office, our country is filled with the bright light of prosperity."
.
Narendra Modi asked: "This is really great...but, where is the remaining
Rs. 99 ?"
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sunil, udupi
Sat, Mar 16 2013JOssey Saldanha..you understand the Logic of UPA GOVT.. THAT HOW THEY MAKE FOOL PEOPLE OF INDIA .. YOU KNOW HOW MUCH CRUDE OIL HAVE BEEN REDUCED.. AND IN PAKISTAN MORE THAN 10 RUPEES HAVE REDUCED AND IN BANGLADESH 10 RUEPPES WHY INDIA LIKE THIS..
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ADD'Souza, Mangalore
Sat, Mar 16 2013Petrol price is reduced by Rs.2.-
from today. When it is increased,
Taxi drivers, Auto Rickshaw drivers
Bus drivers Storm the offices of R.T.O. to increase their fare. When Government reduces petrol price, Will these drivers accept
to reduce their fare from
public People? R.T.O. officials are
you aware of this ?
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sunil, udupi
Sat, Mar 16 2013THE PLAY GAME BY UPA GOVT FOR UPCOMING ELECTION.. THEY MAKE EASILY FOOL TO PEOPLE AND THEY SPOILED WHOLE INDIA..
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Ramchandra Kini, Mangalore
Sat, Mar 16 2013To all the commentators out here : This is because the US$ fluctuates daily against the Rupee.
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Sunil , Karkala
Sat, Mar 16 2013If some people in this forum had that much of knowledge, they would have understood both reducing and increasing of the price. People here make party-bound comments. If the government increases the petrol price, then it's anti-poor if it reduces, then it's a political gimmick. Hence any benefit is a political gimmick for these people. Beyond redemption....
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SRIDHAR SHETTY, DOHA /BARKUR
Sat, Mar 16 2013UPA congrs govt is fooling the nation.....
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Jagdish, Riyadh
Sat, Mar 16 2013CONGERSSINA ELECTION GAAGI DODDA NATAKA......!!!
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ISMAIL.K.PERINJE, PERINJE-YANBU/KSA
Sat, Mar 16 2013Jagadish you are being in Riyadh, which is a PETROL EXPORTING COUNTRY and knows fluctuations in OIL PRICES defends up on Indian Rupee's appreciation and depreciation aqnd Besides, Dollar's trading in basket of world leading currencies writing such silly comments?Are you serious or for the sake of blah blah?
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R.Bhandarkar, M'Lore
Sat, Mar 16 2013This has become a 'Pet Roll' of late
this 'rolling back' of prices!
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JR,
Sat, Mar 16 2013WHEN CRUDE OIL PRICE REDUCED BY RS.5 PRICE CUT IS RS.2 BUT WHEN CRUDE OIL PRICE INCREASE HIKE WILL BE DOUBLE.
WHY THIS DOUBLE STANDARD BY CENTRAL GOVT.?
WHY FREEQUENT HIKE AND CUT WHEN THE LEVY PORTION IS ALMOST 40% ?
WHY CAN'T THE GOVT. MAINTAIN A STABLE PRICE TO AVOID VARIATION IN OIL PRICE THE BENEFIT OF WHICH NEVER GOES TO ULTIMATE USERS BUT BURDEN IS ALWAYS MORE THAN THE REAL HIKE ?
IF THE GOVT. NOT READY TO LOOSE THE REVENUE ON OIL PRODUCTS WHAT ABOUT CRORES OF CRORES TAX PAYERS MONEY GONE THRU THE SCAMS ?
IS THERE ANY SINGLE INSTANCE WHERE THE GOVT. RECOVERED SUCH MONEY FROM THE SCAMSTERS ?
IS THERE ANY ANSWER FROM CONGI ?
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Jaison Dsilva, Dubai
Sat, Mar 16 2013This is common tactics used by government first increase by five rupee then reduce two rupee as they done a great job!!! If we read the colum properly is the oil company running our nation ? I am having a doubt!!!
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Damodar Bhat, Udupi
Sat, Mar 16 2013Was this due to Mr.Poojary ?
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Rakesh, mangalore
Fri, Mar 15 2013Election Gimmick?
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Dinesh Poojary, Kundapura/Bengaluru
Fri, Mar 15 2013Jossey Saldanha, Mangalore/Mapusa/Mumbai
Petrol rate reduced due to reduction in International market price of petrol, not from pockets of central Govt. Improve your knowledge.
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Jossey Saldanha, Mangalore/Mapusa/Mumabi
Sat, Mar 16 2013@Dinesh, Then why do you jokers make such a big song and dance when international prices of crude go up...
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Dinesh Poojary, Kundapura/Bengaluru
Sat, Mar 16 2013Jossey Saldanha
When International Market oil price goes up by 10 paise, the incompetent UPA govt increase petrol price by 2 Rs.
When it goes down by 15 Rs, UPA govt reduces 2 Rs.
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Jossey Saldanha, Mangalore/Mapusa/Mumbai
Fri, Mar 15 2013Can this incompetent Karnataka Government now reduce milk prices.......
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satish, kudla/sydney
Sat, Mar 16 2013@Jossey Saldanha,Mangalore/Mapusa/Mumbai ...so u believe that milk is transported in petrol based motorbikes,auto's & cars but not on diesel trucks?
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John DSouza, Mangalore
Fri, Mar 15 2013Idea can change life and a concept change can make a world of difference.
The opportunity is to use the weight on wheels (millions of tons, of people and goods) which move every day, as a pushing force, along with the help of the gravity power of earth which is abundant, non-exhausting, free and available 24/7.
Why the land transport cannot be revolutionized, which is suffering from a lengthy evolution?
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