Diesel in India to be costlier by Rs.3, petrol by Rs.5 (Lead)

June 4th, 2008 - 1:58 pm ICT by IANS  

A file-photo of Manmohan Singh

New Delhi, June 4 (IANS) Diesel in India will cost Rs.3 more per litre and petrol will be dearer by Rs.5 after a decision taken by the Cabinet Committee on Political Affairs here Wednesday to partly insulate state-run petroleum retailers from high global crude prices. “The government has also decided to marginally increase the price of LPG (cooking gas) by Rs.50 per cylinder,” Petroleum Minister Murli Deora told reporters here after the marathon cabinet meeting, presided over by Prime Minister Manmohan Singh.

The meeting, which lasted more than two hours, also gave a nod to a proposal to sell only eight cylinders of cooking gas per family per annum at subsidised rates, while asking consumers to pay a near-market price for any additional demand.

The cabinet also decided to reduce the excise duty on petrol and diesel by Rs. 1 each per litre from Rs.14.35 and Rs.4, respectively.

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