Business Standard

Oil shock softened

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Our Economy Bureau New Delhi

New prices

Old prices

Petrol

Diesel

Petrol

Diesel

Delhi

35.71

22.74

33.71

21.73

Mumbai

40.96

28.62

38.83

27.43

Chennai

38.96

25.35

36.69

24.23

Kolkata

38.69

25.03

36.61

23.99

LPG prices up by Rs 20 a cylinder  The annual burden on consumers because of the price increase is estimated at Rs 8,000 crore, assuming the oil marketing companies' average annual sales come to around 42 million tonnes of diesel, 9 million tonnes of petrol and 9.6 million tonnes (approximately 672 million cylinders) of liquefied petroleum gas (LPG).  The excise duty on petrol has been cut from 30 per cent to 26 per cent, while that on high speed diesel has been pared to 11 per cent from 14 per cent. In case of cooking gas, excise duty has been halved to 8 per cent. The duty reduction will cost the exchequer about Rs 3,000 crore.  Petroleum Minister Mani Shankar Aiyar said yesterday

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First Published: Jun 16 2004 | 12:00 AM IST

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