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Government have decided that the price of Kerosene (SKO) sold through the Public Distribution System and Liquefied Petroleum Gas (LPG) for domestic use will continue to be maintained at present levels. However, the price of Petrol (Motor Spirit) and diesel (HSD) will be raised w.e.f. 21.6.2005 as follows :
Retail Selling Price (RSP) in Rs. Per litre
Delhi
Mumbai
Kolkata
Chennai
A. Petrol (Motor Spirit)
Revised Price
40.49
45.95
43.51
43.97
Existing Price
37.99
43.23
40.89
41.25
Increase
2.50
2.72
2.62
2.72
B. Diesel (HSD)
Revised Price
28.45
35.22
30.80
31.52
Existing Price
26.45
32.83
28.72
29.30
Increase
2.00
2.39
2.08
2.22
The decision is based on the principle of equitable burden sharing between the government which has significantly reduced and readjusted customs and excise duties; consumers of petrol and diesel, who will have to pay a slightly enhanced price which is only about one-half of the rise in international prices of these products since the last revision in November, 2004; and the oil sector companies, who will have to bear the brunt of subsidizing not only SKO and LPG but also a part of the required increase in the price of petrol and diesel. Thus, the Indian consumer continues to be substantially insulated from the spiraling prices of crude oil and petroleum products in the international markets.
In arriving at this decision, the Government has been careful to ensure that oil sector companies do not suffer any cash losses and they have adequate investible surpluses to meet the country’s growing energy demands.
In sum, equitable burden sharing has been complied with due consciousness of Government’s responsibility for ensuring the health of our oil sector companies, who are the jewels of the public sector.
Rcj/kc-20.06.05/Price hike
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