The Hindu : Petrol, diesel prices cut

Online edition of India's National Newspaper
Friday, May 16, 2003

Front Page

Front Page

Petrol, diesel prices cut

By Our Staff Correspondent

NEW DELHI May 15. The public sector oil companies have cut the prices of petrol and diesel by over a rupee a litre, even as international crude oil prices have begun moving up once again. The price cut announced today follows a consistent decline in the world prices since the war on Iraq, but the past week has seen a hardening trend in the global markets.

This is the third time in two months that the oil prices have been cut in line with the policy to link the domestic prices to international rates. In fact, the decline has been far less than the drastic fall in the world prices ever since the Iraq war began, but the oil companies have argued that when the prices rose prior to the war, they did not raise the prices to the extent needed, especially to avoid hardship to the general public.

The new prices which come into effect from midnight of Thursday are: petrol will cost Rs. 30.40 a litre in Delhi, against Rs. 31.50 a litre. The diesel price has also dipped from Rs. 20.13 to Rs. 19.18 a litre.

In Mumbai, petrol will now cost Rs. 35.24 against Rs. 36.43, a reduction of Rs. 1.19. The diesel price will now be Rs. 24.37 from Rs. 25.50 earlier, a decline of Rs. 1.13. On April 15 and 26, the oil companies had announced a decline of about one rupee a litre on prices of both petrol and diesel.

Printer friendly page
Send this article to Friends by E-Mail

Front Page

Stories in this Section

36 killed in Frontier Mail fire

We have to go step by step: Jamali

More sops for textile sector

IT executive discharged by U.K. court

Azhar defies ban?

Petrol, diesel prices cut

BSNL cuts cell rates

Heavy rain forecast along A.P., Orissa coast

Blasts rock Shell outlets in Pakistan