Delhi: Petrol price cut by Rs 1.82/litre; diesel rate hiked by 50p

Petrol price was cut by Rs 1.82 a litre in Delhi and diesel rates were hiked by 50 paise per litre.

By: Press Trust of India | New Delhi | Updated: August 30, 2014 8:38 pm
petrol1 With international oil rates on the decline, petrol price was cut by Rs 1.51 a litre, which after including local sales tax or VAT translated into a reduction of Rs 1.82 a litre in Delhi. (Source: PTI)

Petrol price was on Saturday cut by Rs 1.82 a litre, the third time rates were slashed this month, but diesel rates were hiked by 50 paise per litre. The revised rates are effective from midnight tonight, oil companies announced.

With international oil rates on the decline, petrol price was cut by Rs 1.51 a litre, which after including local sales tax or VAT translated into a reduction of Rs 1.82 a litre in Delhi.

Petrol in Delhi will now cost Rs 68.51 a litre from Sunday as against Rs 70.33 currently. In line with the January 2013 decision to hike diesel prices till retail rates come on par with its cost, rates were hiked by 50 paise a litre.

After, including VAT, the increase in Delhi came to 57 paise. Diesel will cost Rs 58.97 per litre in Delhi from tomorrow compared to Rs 58.40 currently.

Rates will vary from city to city depending on local sales tax or VAT.

PETROL PRICES CUT

Petrol price was cut by 90 paise (Rs 1.09 a litre after including local sales tax) on August 1 and again by Rs 1.81 (Rs 2.18 per litre, after including VAT).

At Rs 68.51, petrol price is lowest since June last year when it was sold Rs 68.58 per litre.

Indian Oil corp, the nation’s largest fuel retailer, said the downward trend in international prices has also warranted a cut in price of non-subsidised cooking gas (LPG) by Rs 19 pe14.2-kg cylinder. None-subsidised LPG is the one that household consumers buy after exhausting their quota of 12 bottles in a year.

Subsidised cylinder costs Rs 414 per litre in Delhi. A 14.2-kg non-subsided LPG cylinder will cost Rs 901 from Sunday as compared to Rs 920 currently.

Also, the rates for bulk diesel, which is priced at market rates, was cut by Rs 1.32 per litre in Delhi. As per government policy, bulk users like railways, defence and state road transport corporations buy diesel at market price, which is higher than pump rates.

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  1. A
    ajeya
    Aug 30, 2014 at 6:17 pm
    without questioning the rationale for the decision, the way you and others are reporting this is an indication of either you being manited by the authorities or you maniting the readers. You are citing the price increase of diesel in your headline without tax while the decrease in price of petrol cited in the same headline includes tax component. This lack of uniformity is the reason for lack of trust in media outlets.
    Reply
  2. A
    ankit mrankitanks
    Aug 31, 2014 at 4:34 pm
    Increase the price, do whatever. We just want end result to be good. Reduce corruption and inflation abnd increase accountability. Only then you will be better than UPA, and india' trust on you will be justified. There are full 5 years.
    Reply
  3. S
    sabse bada
    Aug 30, 2014 at 4:33 pm
    Petrol prices should belowered by Rs 20 per liter by reducing taxes by Rs 20 per liter or Rs 40000crore a year, diesel hike is most unfortunate in this severely stagflatingpoorest nation and its prices should go down by Rs 10 per liter by reducing dieseltax by same amount or by Rs 80000 crore a year this should be done bydecontrolling LPG, kerosene and natural gas and by taxing them to make theirprices equal to diesel and petrol on energy parity basis. Decontrolling andtaxing LPG, kerosene and natural gas will reduce government subsidy burden,will increase revenues and greatly increase oil companies milking capacity ofgovernments by an amount slightly more than what government will loss on petroldiesel tax cut and will reduce fiscal deficit a bit. This should be done todayonly as motor fuel should go cheapest to finish stagflation and cooking fuelprices should go up as we have their infinite free subsutes. Natural gas ishigh energy low priced fuel so should be subsidized at urea , power level andnot at natural gas level as that will finish its production . We must surely useand promote infinite free to cheap readily available most unfortunatelyoverlooked indigenous energy sources and activities to reduce inlandconsumption of costliest and imported petro products on a war footing.
    Reply