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Petrol prices slashed by Rs 3 per litre

  •   Tue, Apr 30 2013 09:13:10 PM

New Delhi, Apr 30 (IANS): Petrol prices have been slashed by Rs.3 per litre from midnight, state-owned Indian Oil Corp. announced Tuesday.

"Indian Oil Corporation Ltd. has decided to reduce the retail selling prices of petrol w.e.f midnight of 30th April 2013/ 1st May 2013 by Rs.3.00/litre (including VAT) at Delhi," said an Indian Oil release.

Allowing for local sales tax, the new prices of petrol per litre will be Rs.63.09 in Delhi, Rs.69.73 in Mumbai, Rs.65.90 in Chennai, Rs.70.35 in Kolkata, Rs.69.35 in Bangalore, and Rs.68.86 in Hyderabad.

Since the last price reduction of Rs.1.20 a litre (including VAT) at Delhi on April 16, international prices of petrol have gone down from around $116 per barrel (159 litres) to around $107 per barrel, while the rupee has also appreciated slightly against the dollar during the same period, IOC said.

"Thus, it has been decided to pass on the benefit to customers," the statement said.

IOC added that in addition to losses on sale of petrol, state-run oil marketing companies (OMCs) are suffering under-recovery, or loss, of Rs.3.80 per litre on sale of diesel, of Rs.27.93 per litre on PDS kerosene, and of Rs.379 per cylinder on cooking gas.
  

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Comment on this article

  • esther, India

    Wed, May 01 2013

    Wish Elections take place often, so that prices come down for a few days atleast. What gimmicks. But pls. no BJP rule there. Now wait and see how the prices will increase after the Elections.

    DisAgree [5] Agree Reply Report Abuse

  • TC, Sydney /Mangalore

    Wed, May 01 2013

    The price per litre around Rs 70, it is astronomiarecally high in India if one compares the prices prevailing in the western and gulf countries with regard to the average salaries earned in the respective countries. For instance here in Australia where the average salaries are almost 10 to 15 times higher than India, (around $ 55000 p.annum) presently a litre costs only $ 1.30 which is about the same as that prevails in India in rupee terms! Yet here in Aussie land people vehemently complain when the price goes up by a few cents, whereas the people in India quietly take under their chin and carry on without much complain! Hats off to them!

    DisAgree [1] Agree [4] Reply Report Abuse

  • Ramakrishna. A., MANGALORE

    Wed, May 01 2013

    Just a short-term gimmick to influence the Voters of Karnataka.
    Anyway, entire nation should be thankful to Karnataka Voters, since this step of Central Govt is only to win the voters of Karnataka.

    DisAgree [5] Agree [4] Reply Report Abuse

  • R Mallar, Kasaragod/ Dubai

    Wed, May 01 2013

    If you study the graphs of international crude oil price, dollor versus rupee exchange values and petrol prices in India over past few years, you will note that the first two graphs show typical ups and downs while petrol price graph shows mostly upward trend only. That is the reason why people suspect that this is a election gimmick. Agreed that the compulsions about keeping kerosine and diesel prices low and cross subsidies, two major factors are inefficiency of PSUs and taxes. This is where the government has to take blame.

    DisAgree Agree [2] Reply Report Abuse

  • Naveen D'souza, Valencia-Kuwait

    Wed, May 01 2013

    WHERE IS THE OPPOSITION NOW. THEY SHOULD FIGHT FOR DECREASING THE TRANSPORTION OF CHARGES OF PEOPLE'S NEEDSY.

    DisAgree [1] Agree [5] Reply Report Abuse

  • Willie Menda, Bangalore

    Wed, May 01 2013

    When the fuel prices go up, the prices of other commodities and services also go up citing the increased transport cost.But when fuel prices come down the prices of other commodities and services will remain the same!!

    DisAgree [1] Agree [9] Reply Report Abuse

  • Prasanna, Mangalore

    Wed, May 01 2013

    Joseph F. Gonsalves, Bannur, Puttur /Mangalore, You are right. But the Jokers and illiterates can not understand it they say it is Political gimmick.

    DisAgree [3] Agree [15] Reply Report Abuse

  • Joseph F. Gonsalves, Bannur, Puttur / Mangalore

    Wed, May 01 2013

    PETROL PRICES ARE NOT STABLE AT ANY TIME. IT DEPENDS ON INTERNATIONAL MARKETS CRUDE OIL PRICES. IT IS GOOD THAT THE GOVERNMENT IS GIVING US PRICES LESS OR MORE DEPENDING ON INTERNATIONAL MARKET PRICES.

    JAI HO DR. MANMOHAN SINGH JI.

    DisAgree [6] Agree [25] Reply Report Abuse

  • Aadil Khan, Kasaragod, Saudi Arabia

    Wed, May 01 2013

    It is about Rs. 4/Liter reduced on petrol prices in a matter of 3 weeks.

    When the prices go up, public abuse the UPA Govt., but no appreciation for the viceversa action!

    It is a welcome move, Rs. 3 per liter makes a big difference. Hope our currency become more stronger and crude prices fall further to pass on its benefit to common man.

    Long live UPA Govt.'s developmental and economic reforms.

    DisAgree [9] Agree [30] Reply Report Abuse

  • jeevan, mangalore

    Wed, May 01 2013

    Political gimmick... once again go up after election.. all for power

    DisAgree [31] Agree [14] Reply Report Abuse

  • Aadil Khan, Kasaragod, Saudi Arabia

    Wed, May 01 2013

    Sulthan, retail price of petroleum products are adjusted based on the international crude prices and the exchange rate of local currency vs US Dollars. It has nothing to do with the election.

    DisAgree [6] Agree [24] Reply Report Abuse

  • ifthikhar, Mangalore / KSA

    Wed, May 01 2013

    Good and welcome move by Central govt.

    DisAgree [10] Agree [23] Reply Report Abuse

  • stan, dubai

    Wed, May 01 2013

    Good action. But now people are not making any big joy. When petrol prices increased the opposition parties came out and so many agitations . Please this is good that Government has brought the price of petrol to international value. Now they can increase or decrease as per international market.

    DisAgree [4] Agree [13] Reply Report Abuse

  • John Dsouza, Mangalore

    Wed, May 01 2013

    Due to fast and dynamic life style, changed economy, it is essential to think different and view new. With a concept change, we can save a huge volume of fuel, which can avoid our fiscal deficit and eliminate the air pollution and sound pollution, help to reduce the poverty, unemployment and widened gap between have and have not, in order to have a peaceful society, stable economy and clean environment.

    DisAgree [3] Agree [17] Reply Report Abuse

  • Sulthan, Mang/Dxb

    Wed, May 01 2013

    Before election petrol price reduce to 3 rupees but After the election petrol price will increase by 10 rupees. What an idea.

    DisAgree [37] Agree [26] Reply Report Abuse

  • Praveen, Mangalore

    Wed, May 01 2013

    for your information the prices are reduced all over India not only in Karnataka.

    DisAgree [10] Agree [36] Reply Report Abuse

  • Jossey Saldanha, Mangalore/Mapusa/Mumbai

    Tue, Apr 30 2013

    Now can Karnataka Milk prices come down....

    DisAgree [15] Agree [35] Reply Report Abuse


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