Petrol and diesel prices rise by 1.1 percent with effect from April 01, 2010 owing to the new quality of fuel made available for the Indian customers. Oil companied in India have made huge investments to provide better and cleaner quality of fuel in 13 cities Indian cities where the new Bharat Stage IV norms come into effect. The price hike will enable the oil companies to cover the investment costs incurred. "The hike will be effective from midnight tonight," said Sudhir Bhargava, additional secretary in the federal oil ministry.
Petrol will be expensive by 50p from midnight April 01 while diesel will be expensive by 26p. However, in Delhi it will be expensive by at least Rs. 2 owing to the high taxes. "Delhi government has raised VAT (value added tax) on diesel, which will be implemented from tomorrow. Due to this, diesel prices will go up by 2.35-2.37 rupees a litre in Delhi," Bhargava said. The new petrol prices in Delhi will be Rs. 47.93 while diesel will be Rs. 38.10 per liter.
Thirteen cities in India including Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore, Lucknow, Kanpur, Agra, Surat, Ahmedabad, Pune and Sholapur will move from BS-III to BS-IV quality of fuel from today.
