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India On Media |
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| Budget
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| Petrol prices go up by Rs 3.73/lt, |
| Petrol prices go up by Rs 3.73/lt, diesel up Rs 2/lt
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| INDIA
, 25-June-2010
4:30:3 AM |
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The empowered Group of Ministers (eGoM) on Friday approved freeing of petrol and diesel prices from government control.
As a result, petrol prices go up by Rs 3.73 per litre while diesel prices go up by Rs 2 per litre.
Ministerial panel also approved Rs 35 per cylinder hike in LPG prices and Rs 3 per litre in kerosene prices.
The decision follows the eGoM meeting on freeing up petrol prices and cutting subsidies on diesel, kerosene and LPG, to help rein in the fiscal deficit, which is projected at 5.5 per cent of the gross domestic product in 2010/11 and free up revenues for other programmes.
The move will help boost profits of state-run oil firms that have been losing revenue from government-set lower prices.
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