Petrol and diesel prices will go up by Rs 0.50 a litre from midnight tonight in 13 big cities, including
Petrol price in
Thirteen big cities, including
The rest of the country will switch from Euro-II specification fuel to Euro-III in phases, beginning with
Euro-III petrol will cost Rs 0.26 a litre more and same grade diesel Rs 0.21 per litre, the official said, adding the rates will differ from city to city.
Prime Minister Manmohan Singh, who was approached by the Petroleum Ministry for clearance, had yesterday approved of the price hike.
Oil companies had invested Rs 40,000 crore in putting up facilities to produce cleaner fuel and the prices have been increased to make up for the cost.
This will be the third hike in diesel rates for
Euro-IV grade auto fuel prescribes to European emission standards that define acceptable limits for vehicle exhaust emissions for member states of the European Union. It is less polluting since it restricts the presence of sulphur in the fuel: sulphur is present in 50 parts per million (ppm), as opposed to sulphur in 550-350 ppm as sold in earlier.
The Euro IV standard specifies a maximum of 50 parts per million of sulphur in petrol and diesel. Euro-III fuel specifications call for a maximum of 350 parts per million of sulphur will be sold in the rest of the country.
The official said oil firms could not have absorbed the cost of producing cleaner fuel as they lose about Rs 250 crore per day on selling auto and cooking fuel below cost. Retailers IndianOil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 6 per litre on petrol, Rs 4.06 a litre on diesel, Rs 16.91 per litre on kerosene and Rs 267.36 per 14.2-kg LPG cylinder.
Wednesday, March 31, 2010
Petrol, diesel to go dearer from tonight
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