Petrol price cut by Rs. 3; diesel costlier by Rs. 1.47


New Delhi, Feb 29 (Agencies) : Petrol price was on Monday cut by Rs. 3.02 per litre, but diesel rates were hiked by Rs. 1.47 a litre — the second increase this month in line with global trends.

This is the 7th straight reduction in price of petrol. On diesel, this is the second increase in rate this month.

Petrol price was on Monday cut by Rs. 3.02 per litre, but diesel rates were hiked by Rs. 1.47 a litre — the second increase this month in line with global trends.

Petrol in Delhi will cost Rs. 56.61 per litre from midnight tonight as against Rs. 59.63.

A litre of diesel, however, will cost Rs. 46.43 a litre as compared to Rs. 44.96 per litre, according to Indian Oil Corp (IOC), the nation’s largest fuel retailer.

This is the 7th straight reduction in price of petrol.

Petrol price was last cut on February 18 by 32 paisa a litre.

On diesel, this is the second increase in rate this month. The price was hiked by 28 paisa a litre last time.

Prior to that revision, fuel rates were revised on February 1 when petrol price was cut by a marginal 4 paise a litre and diesel by 3 paise a litre after the government raised excise duty to take away most of the benefit arising from fall in international oil prices.

The government had raised excise duty on petrol by Re 1 a litre and that on diesel by Rs 1.50 to mop up additional Rs. 3,200 crore during the remainder of the current fiscal.

This was the fifth hike in excise duty since November that cumulatively gave the government Rs. 17,000 crore in additional revenue. The five levy hikes total to Rs. 4.02 per litre on petrol and Rs. 6.97 on diesel.

“The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant decrease in price of petrol and increase in price of diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.

State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on average oil price and foreign exchange rate in the preceding fortnight.

The revision was due on February 16 but the retailers chose to defer it by a couple of days.

“The movement of prices in the international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” IOC added.

  

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Comment on this article

  • Vincent Rodrigues, Promenade Road,Frazer Town,B'lore

    Wed, Mar 02 2016

    Government should not increase the rates of diesel because the diesel rates were not reduced to the proportion when the diesel rate was decreased in the international market last time.

    DisAgree Agree [1] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Mar 01 2016

    Masthan, Dubai

    Is that possible?
    Better not to make a family.

    Alhamdulillah, we are NRI's.
    just imagine common man's plight.

    DisAgree Agree [4] Reply Report Abuse

  • MASTHAN, DUB

    Tue, Mar 01 2016

    ONLY ONE WAY TO ANSWER THIS EXPENSIVE GOVT IS TO,

    TRAVEL LESS, EAT LESS, WATCH MOVIE LESS, QUIT SMOKING, QUIT ALCOHOL, USE LESS ELECTRICITY, SHOPPING LESS

    DisAgree Agree [12] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Mar 01 2016

    Petrol price reduced and Diesel price hiked. The ultimate result or benefit is negligible by way of net savings or overall benefit. When diesel price goes up, transportation prices may go up and that may effect in the cost of consumer items. Am I justified?
    Diplomacy is:
    Ek haath se do aur dusra haat se lo! Kyaa farak padtha hai bahiya?
    Samajdaar log hai.

    DisAgree Agree [12] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Mar 01 2016

    BJP reminds me of a Carpenter cutting the branch they are sitting on ...

    DisAgree [9] Agree [26] Reply Report Abuse

  • geoffrey, hat hill

    Mon, Feb 29 2016

    Crude prices have taken an u turn already, just be prepared for a big U turn on domestic front soon. What we see today is just a calm before a storm.

    DisAgree [5] Agree [31] Reply Report Abuse

  • vijay m, mangaluru

    Mon, Feb 29 2016

    One more attempt to fool citizens. Dont shout now about unemployment rather raise voice who create such situations by looting the money that is earned genuinely

    DisAgree [4] Agree [26] Reply Report Abuse

  • MASTHAN , DUB

    Mon, Feb 29 2016

    THANK GOD. I HAVE PETROL CAR. WHICH IS FUN TO DRIVE AND LESS MAINTAINENCE.

    PEOPLE DONT USE BRAIN WHILE BUYING CARS.

    PETROL CAR IS 1 LAKH CHEAPER THAN DIESEL CAR.

    FOR 1 LAKH U CAN TRAVEL UPTO 50,000 KMS.

    DIESEL CARS TOO MUCH NOISY FEELS TIRED. IRRITATING TO DRIVE. TOO MUCH POLLUTION.

    DisAgree [10] Agree [39] Reply Report Abuse

  • bhuvan, kavoor

    Mon, Feb 29 2016

    i have a diesel car..i cried only when i bought car..but not every time i fill fuel..i just cried once instead of crying daily.. :)

    DisAgree [40] Agree [14] Reply Report Abuse

  • MASTHAN , DUB

    Mon, Feb 29 2016

    WHEN BIG BILL OF SERVICE CHARGE COMES. WILL U CRY OR DANCE.

    DIESEL CARS SOUNDS LIKE GENERATOR.

    PETROL CARS SOUNDS LIKE INVERTER

    DisAgree [8] Agree [38] Reply Report Abuse

  • bhuvan, kavoor

    Tue, Mar 01 2016

    looks like you never sat in cars other than mahindra jeep..

    DisAgree [2] Agree Report Abuse

  • MASTHAN , DUB

    Mon, Feb 29 2016

    Bhuvan
    DIESEL CAR IS NOT RELIABLE AS PETROL CARS.
    WHEN UR DIESEL CAR STOPS RUNNING IN THE MIDDLE OF THE ROAD. WILL U TAXI BUS OR AUTORIKSHAW.

    DisAgree [2] Agree [15] Reply Report Abuse

  • Santosh,K, Mangalore

    Mon, Feb 29 2016

    I have filled my tank with diesel.
    Tomorrow fill with petrol to my car!!!!!!!!!!!!!
    ಸಾದಿಕ್ ಬರ್ಪರ ಅಥ್ ಗುದ್ದು ತಿನ್ಪರ

    DisAgree [24] Agree [6] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Feb 29 2016

    Santosj, stop talking like Jhootley ...

    DisAgree [8] Agree [32] Reply Report Abuse

  • bhuvan, kavoor

    Mon, Feb 29 2016

    now u left with kerosene..fill that also to your car..

    DisAgree [10] Agree [2] Reply Report Abuse

  • Santosh,K, Mangalore

    Tue, Mar 01 2016

    bhuvan, kavoor
    I'll fill diesel to my tank not to car, and I fill petrol to my car. Go to Kavoor mescom Buy new led lamp install in place tube light Ha Ha Ha !!!!!!!

    DisAgree [1] Agree [11] Reply Report Abuse

  • bhuvan, kavoor

    Mon, Feb 29 2016

    if you fill both diesel and petrol to your car , it will blast.. to avoid that you have to fill with kerosene also..

    DisAgree [8] Agree [19] Reply Report Abuse

  • Santosh,K, Mangalore

    Mon, Feb 29 2016

    Understand my comment properly before comment !!!!!!!

    DisAgree [3] Agree [7] Reply Report Abuse

  • mark dcruz, MANGALORE

    Tue, Mar 01 2016

    How about Mineral water? Please do that because ED has been increased .. hahahahhhhahahahahahhahhahah.
    Modi!!!

    DisAgree Agree [7] Reply Report Abuse

  • adarsh, Kinigoli

    Mon, Feb 29 2016

    Ever since modi government came petrol price is coming down. hope it will fall further.

    DisAgree [39] Agree [11] Reply Report Abuse

  • Mark Dcruz, Mangalore

    Tue, Mar 01 2016

    Hello Mr. This is not because because Ur Modi, it's global pricing of Crude and this will remain for another 1 year.

    DisAgree [3] Agree [20] Reply Report Abuse

  • Lokesh, Mangalore

    Tue, Mar 01 2016

    @adarsh, Kinigoli, BTW, Adarsh, where is that petrol price falling?? In Kinnigoli??

    DisAgree Agree Reply Report Abuse

  • bhuvan, kavoor

    Mon, Feb 29 2016

    now some intelligent will come with a calculation..barrel price blah blah...2014 blah blah..now blah blah..

    DisAgree [46] Agree [9] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Feb 29 2016

    In your rule
    Chaiwala becomes PM
    Cobbler becomes FM
    Kamwalibai becomes HRD
    GOD SAVE THIS COUNTRY ...

    DisAgree [6] Agree [18] Reply Report Abuse

  • geoffrey, hat hill

    Mon, Feb 29 2016

    For you truth is always blah.. blah.. blah..
    Fekugiri wah.. wah..wah..

    DisAgree [4] Agree [12] Reply Report Abuse

  • Jp, Mangalore/Dubai

    Mon, Feb 29 2016

    And some idiots have different rules for feku party !

    DisAgree [2] Agree [9] Reply Report Abuse

  • John, Udupi

    Mon, Feb 29 2016

    you do only blah blah blah.....Your comment says all.... no need for anyone to do calculations.....

    DisAgree [5] Agree [27] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Feb 29 2016

    bhuvan, why do you guys hate INTELLIGENCE ...

    DisAgree [6] Agree [37] Reply Report Abuse

  • bhuvan, kavoor

    Mon, Feb 29 2016

    here INTELLIGENCE is mukkal to foolish people dude

    DisAgree [11] Agree [2] Reply Report Abuse

  • Raj, Mangalore

    Mon, Feb 29 2016

    Jossey..Cos you are not intelligent :-P

    DisAgree [9] Agree [3] Reply Report Abuse

  • Elroy, Karkala

    Mon, Feb 29 2016

    Chaiwala category , they dont need calculations. Everything is same for them.

    DisAgree Agree [13] Reply Report Abuse

  • RonRon, udupi

    Tue, Mar 01 2016

    Coz you people don't understand what Barrel of crude is.....

    DisAgree Agree [6] Reply Report Abuse

  • jeevan, mangalire

    Mon, Feb 29 2016

    Modiji Modiji Modiji .., Thank you

    DisAgree [71] Agree [13] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Feb 29 2016

    Only a practicing Economist knows that increase of Diesel prices leads to INFLATION ...

    DisAgree [7] Agree [35] Reply Report Abuse

  • Langoolacharya., Belman/Washington,DC.

    Mon, Feb 29 2016

    Modi/Jhootly,

    US retail price for Petrol and Diesel is Rs 25/Liter ...why its Rs 56 and Rs 46 in India???

    Ambani/Adani import crude @ 30/Barrel...it will cost them Rs 10 to manufacture petrol/Diesel per Liter...they sell it for Rs 56 & Rs 46 in their retail outlet....

    Did you audited them, how much taxes they pay per Liter?

    Perhaps you are busy with your Bashaans and travelling in their private jets during electioneering...

    Boot is ready in 2019...

    ...JH...

    DisAgree [5] Agree [52] Reply Report Abuse

  • mark dcruz, MANGALORE

    Tue, Mar 01 2016

    Langoo..
    Adani doesn't have refinery for crude. He has refinery for Vegetable oil( Palm Oil)

    DisAgree [2] Agree [9] Reply Report Abuse


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