January 11, 2002
‘20’
NO INCREASE IN PRICES OF PETROL AND DIESEL DESPITE UPWARD REVISION OF EXCISE DUTY
Pursuant to the increase in excise duty on Petrol from 32% to 90% and on Diesel from 16% to 20% effective from the midnight of the 11th/12th January 2002, the Ministry of Petroleum and Natural Gas has decided to adjust the ex-storage point prices of Petrol and Diesel in a manner that the increase in the excise duty rates does not result in the increase in the retail selling prices of Petrol and Diesel. The ex-storage point prices have been revised as follows:
(Rs./KL)
Existing |
Revised |
|
MS (Normal Grade) |
18,999.01 |
10,820 |
MS (With 0.05% sulphur) |
19,079.01 |
10,900 |
MS (With 0.05% sulphur & 1% benzene) |
19,299.01 |
11,120 |
MS 93 |
21,839.01 |
12,550 |
HSD (Normal Grade) |
11,934.60 |
11,040 |
HSD (With 0.05% sulphur) |
12,334.17 |
11,440 |
LSHF HSD |
12,082.67 |
11,190 |
2. With the above adjustments in the ex-storage point prices, and with the revised excise duty rates, the retail selling prices of Petrol and Diesel in four metros will change as under:
(Rs./litre)
Petrol |
Diesel |
|||||
Existing |
Revised |
Decrease |
Existing |
Revised |
Decrease |
|
Delhi |
28.93 |
27.54 |
1.39 |
17.17 |
17.09 |
0.08 |
Mumbai |
31.90 |
30.79 |
1.11 |
20.79 |
20.71 |
0.08 |
Chennai |
30.67 |
29.74 |
0.93 |
18.65 |
18.60 |
0.05 |
Kolkata |
29.21 |
27.99 |
1.22 |
17.54 |
17.47 |
0.07 |
3. The new rates of excise duty will remain in force only up-to 31st March 2002. As a result of the above changes, the new retail prices to the consumers will be lower than the existing retail prices throughout the country.