Tags:
Journalism of Courage
NEW DELHI, Dec 30: Petroleum companies took a bolder step towards the free market this week in announcing a revision in prices of decontrolled products for all in-land refineries.
Naphtha and light diesel oil will cost nearly 10 per cent less this month, while the price cut in LSHS and furnace oil ranges between 10 per cent and 20 per cent, depending upon the refinery it is being sourced from. The coastal refineries, like Indian Oil Corporation8217;s Haldia refinery and Hindustan Petroleum Corporation8217;s Visakhapatnam refinery will be able to sell naphtha 12.9 per cent cheaper than last month.
The price drop for the inland refineries like Indianoil8217;s Barauni refinery for instance, will only be 7.2 per cent. The price difference, which became effective on midnight Monday, is an attempt to pass on the cost of transporting imported crude to the inland refineries, onto the consumer.
Light diesel oil prices, which went up for the first time, since they were revised downwards in August, will cost 10.12 per centmore all over the country.
