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India On Media |
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| Budget
News |
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| Petrol, diesel prices set to go up |
| Petrol, diesel prices set to go up from April 1
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| INDIA
, 24-March-2010
2:47:23 AM |
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Petroleum Ministry on Wednesday hinted that cleaner Euro-IV fuel in 13 metro cities will cost more from April 1.
Faced with the prospect of revenue loss on fuel jumping to Rs 70,000 crore next fiscal, the ministry called for "harsh decisions".
Oil Secretary S Sundareshan said Euro-IV petrol and diesel will be supplied in 13 designated cities, including Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad and Ahmedabad from April 1.
State-owned oil firms have invested over Rs 40,000 crore in upgrading their refineries to produce cleaner Euro-IV grade fuel.
He said international parity price for Euro-IV petrol is Rs 0.46 a litre more than that of the Euro-III grade fuel in 13 big cities while diesel will have to cost Rs 0.26 a litre more.
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