Petrol, diesel to cost 25 paise more for a litre

Our Economy Bureau
01 October 2002

Mumbai: Petrol and diesel will, on an average, cost an additional 25 paise on every litre from 1 October 2002.

This follows the announcement made by the public sector oil marketing companies about a marginal increase in the prices of petrol and diesel to offset the effect of the rise in global crude prices over the last fortnight.

In the case of diesel, the increase varies from 23 paise per litre in Delhi to 24 paise in Kolkata, 26 paise in Chennai, and 28 paise per litre in Mumbai. Hence, diesel will retail at Rs 18.91 per litre in Delhi, Rs 20.31 in Kolkata, Rs 23.97 per litre in Mumbai and Rs 20.81 per litre in Chennai.

In the case of petrol, the retail prices will go up by 25 paise per litre in Delhi and Kolkata, 26 paise in Chennai and 27 paise in Mumbai. This would mean that petrol would retail at Rs 29.91 in Delhi, Rs 31.35 per litre in Kolkata, Rs 34.42 per litre in Mumbai and Chennai.

Following the dismantling of the administered pricing mechanism in the oil sector in April 2002, oil companies with the consent of the government are allowed to revise the retail prices of petro products on a bimonthly basis to align their costs with the selling prices of the products.