New Petrol Prices increased by Rs 3.5, Diesel Price by Rs 2

The Government has again raised the fuel prices which would bring in more inflation, especially on the food commodities as the transportation of perishable goods would go costly, which would make big holes in the pockets of common man.

Oil Secretary S Sundareshan announced after the meeting of the Empowered Group of Ministers which took place for the second time in less than three weeks.

In May, WPI-based inflation provisionally entered double digits at 10.16 per cent. State oil firms currently lose about Rs 215 crore per day on selling fuel below the imported cost. At present, petrol is being sold at Rs 3.73 a litre below its cost, diesel at a loss of Rs 3.80 per litre, kerosene at Rs 18.82 a litre and domestic LPG at a discount of Rs 261.90 on every 14.2-kg cylinder.

"In such a situation for the government to once again contemplate increasing the prices of fuel again is just shameful..absolutely shameful," said CPM Politburo Member Brinda Karat.

Inflation is at its peak and Government is still consoling the people and tapping the shoulder of Oil companies for staggering burden on account of selling these fuels much below the market prices.

Readers can post their views here in the comments section about this not new price hike by Government.


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