Petrol prices hiked by Rs. 4 a litre; diesel up Rs. 2July 1st, 2009 - 9:01 pm ICT by ANI
New Delhi, July 1 (ANI): The Centre on Wednesday announced a rise in the price of petrol and diesel by Rs. 4 and Rs.2 per litre, respectively.
The Petroleum Minister, Murli Deora, here today, made the announcement and said that the new rates will come into effect from Wednesday mid-night.
The Government was constrained to revise the rates since long time, following heavy losses being borne by the petrol companies due to unstable crude oil prices in international market.
Crude oil prices, which had sunk to 35 dollars level, are presently hovering around 70 dollar mark.
Union Minister for Petroleum and Natural Gas Murli Deora had recently favoured an increase in petrol prices.
The prices for Kerosene oil and Liquefied Petroleum Gas (LPG) will remain unchanged. (ANI)
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Tags: crude oil prices, diesel, dollar mark, heavy losses, july 1, kerosene oil, liquefied petroleum gas, liquefied petroleum gas lpg, litre, long time, mid night, murli, natural gas, New Delhi, petrol companies, petrol prices, rs 2, union minister