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Prices of diesel, petrol, LPG hiked

Prices of diesel, petrol and kerosene were increased by Rs 3 each per litre, Petroleum Minister Ram Naik told reporters at a late night press conference in New Delhi. Price of LPG was hiked by Rs 40 per cylinder.

The price of ATF was hiked by Rs 4 per litre.

Naik also announced cuts in customs duty on petroleum products from 25 per cent to 20 per cent and on crude from 15 per cent to 10 per cent in a bid to bridge the burgeoning oil pool deficit.

The excise duty on petrol was halved from 32 per cent to 16 per cent and that on diesel from 16 per cent to 12 per cent.

Retail price of diesel has been increased by Rs 2.50 per litre in Delhi, Rs 3.02 in Bombay, Rs 2.70 in Calcutta and Rs 2.75 in Madras.

Domestic cooking gas ex-storage price has been increased by Rs 36.20 per cylinder in Delhi, Bombay and Madras and Rs 39.25 in Calcutta.

Kerosene prices have been hiked by Rs 2.81 per litre in Delhi and Madras, Rs 2.85 in Bombay and Rs 2.83 in Calcutta at the retail level.

ATF prices have been increased by Rs 3.60 per litre in Delhi, Rs 3.76 in Bombay and Calcutta and Rs 3.75 in Madras.

Naik said the increase in the selling price of the five petro products would result in additional revenue of about Rs 75.80 billion per annum.

The oil pool account would get another Rs 40 billion from reduction in excise and import duties, Naik said adding that the balance deficit would be met by the Centre through instruments like oil bonds.

Following is the comparative retail prices of petroleum products in the four metros:

New Price (Existing Price)

Petrol: (Rs/ltr) Delhi 28.45 (26.07) Bombay 30.82 (28.47) Calcutta 29.03 (26.33) Madras 30.38 (27.99)

Diesel (HSD): (Rs/ltr) Delhi 17.05 (14.55) Bombay 19.93 (16.91) Calcutta 16.90 (14.20) Madras 17.99 (15.24)

Kerosene (SKO): (Rs/ltr) Delhi 8.36 (5.55) Bombay 8.54 (5.69) Calcutta 8.67 (5.84) Madras 8.51 (5.70)

LPG: (Rs/cylinder) Delhi 232.75 (196.55) Bombay 235.20 (199.00) Calcutta 256.45 (217.20) Madras 238.60 (202.40) --------------------------------------------------------

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