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Wednesday, July 1, 2009

Petrol and Diesel Prices hiked

The government has raised the price of petrol by 10 percent and diesel by about 6.5 percent, the first increase in a year, Oil Minister Murli Deora said on Wednesday.

Petrol prices in Delhi, currently 40.62 rupees ($0.85) a litre been raised by 4 rupees a litre, while diesel, currently 30.86 rupees a litre is up 2 rupees a litre, he said.

The new rates will be effective from midnight, Deora said.

Prices were last raised in June last year, when the average price of India's crude imports was $113 a barrel.

But as crude tumbled from its peak last year, India cut fuel prices in December and again in January.


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