The Hindu : Petrol, diesel prices up again

Online edition of India's National Newspaper
Saturday, Feb 01, 2003

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National

Petrol, diesel prices up again

By Our Special Correspondent

NEW DELHI Jan. 31. The rise in world oil prices has had an impact here with the public sector oil companies raising petrol and diesel prices by about 40 paise per litre. The increase will come into effective from midnight tonight.

According to the Indian Oil Corporation (IOC), the continuing strike in Venezuela and increased war perception in Iraq resulted in rise of international crude oil prices. The prices of the Indian crude oil basked increased to $29.94 a barrel during the second fortnight of January as compared to $28.75 a barrel during the first fortnight. Similarly, the international prices of products also registered increases. The IOC claims the increase in domestic prices had been moderated and the entire impact of rise in world prices had not been passed on to the consumer with the differential being absorbed by the oil companies.

Petrol will now cost Rs. 30.71 a litre in Delhi as against the existing Rs. 30.33 while diesel price have been raised from Rs.19.47 to Rs. 19.84 a litre. Petrol price in Chennai will now be Rs. 33.39 a litre as against Rs. 32.99 a litre currently. Diesel prices in this city will now be Rs. 21.78 a litre as against Rs. 21.38.

Petrol and diesel prices had been increased by up to Rs. 1.50 per litre in two instalments earlier this month.

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