Financial Daily from THE HINDU group of publications
Saturday, Feb 01, 2003
Financial Daily from THE HINDU group of publications Saturday, Feb 01, 2003 |
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Petroleum Industry & Economy - Petroleum Petrol, diesel prices up 40 paise Our Bureau
NEW DELHI, Jan 31 THE consumer will be paying around 40 paise more for every litre of petrol and diesel purchased from Friday midnight . The oil marketing companies have raised the consumer prices of the two mass consumption products owing to the recent spurt in the international crude prices. Global crude prices have hardened due to the war clouds looming over Iraq as well as the continuing workers' strike in the oil production business in Venezuela. The average crude procurement price for the Indian refiners rose from $28.75 per barrel in the first fortnight of January 2003 to $29.94 per barrel in the second fortnight. Product prices have also risen in the period under review, according to an official release from Indian Oil Corporation (IOC). In the case of petrol, the price in Delhi has been raised by 38 paise to Rs 30.71 per litre; in Kolkata by 37 paise to Rs 32.21; in Mumbai by 40 paise to Rs 35.58; and in Chennai by 40 paise to Rs 33.39 per litre. The retail price of diesel has been raised by 37 paise to Rs 19.84 per litre in Delhi; in Kolkata by 37 paise to Rs 21.23; in Mumbai by 44 paise to Rs 25.16; and in Chennai by 40 paise to Rs 21.78 per litre.
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