Petrol, diesel, kerosene and domestic LPG prices increased again

All the people around the Country were really surprised and annoyed when the Government came up with the price hike in petroleum products including diesel, kerosene and LPG.

The Government finally decided to cut all the subsidies that were being given in case of diesel, kerosene and LPG. To bring the price in line with the market rates the hike in price was declared on Friday.

As per the new rate, the petrol and diesel price is supposed to be increased by Rs 3.73 per litre and Rs 2 per litre     respectively. Price for kerosene will go up by Rs 3 per liter and that for LPG, people will now have to pay Rs 35 more per cylinder of the gas. The rise in price will be effective from Friday night. It was declared by Oil Secretary S Sundareshan on Friday after meeting with the Empowered Group of Ministers (EGoM).

Presently the State oil firms were incurring a loss of Rs 215 crores per day as the imported cost was much higher than the selling price of the fuels. So the Government feels will definitely be benefitted by increased revenue from this state-run oil firms as these will no longer be running under losses.

However Government will still have to give a heavy subsidy for the cooking fuels as a 14.2 kg cylinder of domestic LPG is already being sold at a discount of Rs 261.90.

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