Effective from today cooking gas in open market costs Rs1100/- and diesel is up by Rs.0.50.
Oil companies made the above announcement as per the decision taken as they do every fortnight to adjust the prices. Cooking gas rates are revised only on cylinders other than those of supplied on subsidy. The consumers who have already taken the allowed number of cylinders have to pay Rs.1100/- now for the cooking gas.
Surprisingly Petrol rate is lowered by up to Rs.4/- in Hyderabad. Petrol rate was previously lowered by Rs.3/- in the month of May. Afterwards it steadily went up. Now again after May, rate is reduced owing to the reduction of motor spirit oil rate per barrel from $117 to $113 because Rupee value gained against dollar. (Rs.66 to 63)
Indian Oil Corporation announced that Rs.0.50 is increased on diesel as part of the plan of reducing the burden of subsidy gradually. Still, the Company said, it is sustaining a loss of Rs.10.52 per liter. The oil companies, as revealed by IOC, are put to a loss of Rs.38.32 on Kerosene and Rs.532.50 on subsidy cooking gas cylinder.
Now the rate of Petrol is Rs.79.05 per liter as against Rs.83.05 till yesterday. Diesel rate reached Rs. 57.27 per liter. Rate of cooking gas in open market previously was Rs.1024.50 which has become Rs.1100/- after an increase of Rs.75 per cylinder.