www.expressindia.com - Weather | Horoscope | Stocks | RSS
expressindia web city
HomeBlogsCricketAstrologyShopping TendersClassifieds Opinions Jobs Hotels
Sign In / Register | Archive
Expressindia » Story

Cooking gas cylinder dearer by Rs 50

Font Size

Agencies

Posted: Jun 04, 2008 at 1621 hrs IST

New Delhi, June 4: In the single steepest hike in fuel prices, the government today raised petrol price by Rs 5 per litre, diesel by Rs 3 and LPG by Rs 50 per cylinder and came under attack from its allies as well as opposition parties.

The government that dithered over the issue till global crude prices touched an all-time high of 135 dollars a barrel, announced the increase in an election year.

While Left parties sought review and announced nationwide protests, the main opposition BJP said it was UPA government's "economic terror" on the common man.

"Congress will have to pay heavily for this," former Petroleum Minister and senior BJP leader Ram Naik said.

Petrol in Delhi will cost Rs 50.56 a litre after the hike, while diesel prices would go up from Rs 31.8 to Rs 34.8 a litre effective midnight n Wednesday. LPG prices have gone up by Rs 50 per 14.2-kg cylinder to Rs 344.75.

"We were left with no option," Petroleum Minister Murli Deora told a packed news conference after a meeting of the Cabinet Committee on Political Affairs (CCPA).

State-run Indian Oil, Bharat Petroleum and Hindustan Petroleum would have suffered a revenue loss of Rs 245,305 crore this fiscal if the prices had not been hiked and the across-the-board 5 per cent cut in custom duties on crude and petroleum products and a Re one per litre reduction in excise on petrol and diesel were not announced.

"Due to the relentless increase in international oil prices, it has now become necessary for the consumer... to shoulder a small part of the increased burden, through a marginal hike in prices," Deora said.

Petrol and diesel prices were last raised in February. The last steepest hike was Rs 4 a litre on petrol and Rs 2 per litre on diesel announced by the UPA Government in September 2006.

Discuss this story on expressindia forums
Post Comments
Name* Email ID*
Subject* Country*
Message*
Characters remaining
 
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
I agree to the terms of use.

Latest News

Business

Showbiz

Sports

SC notice to Centre on Delhi HC verdict on gay sex

China objected to ADB funds for Arunachal: Krishna to RS

Top guns to sit on AI advisory board

We know talks are important, but end violence first: India to Pak

CBI waiting in the wings as CID investigates Ranbir's 'murder'

Varun security issue: Sushma not happy with PC's briefing

Hooch Tragedy: Death toll climbs to 86, bootleggers detained

More
© 2009 The Indian Express Limited. All rights reserved
The Indian Express Group | Advertise With Us | Privacy Policy | Feedback | Work With Us | Site Map