Thursday, September 15, 2011

Petrol Prices dampen sentiments

After running in a loss of Rs 2450 crore from petrol selling itself below par government freed petrol June last year. Last petrol price was hiked by Rs 5 on 15 the may. Now after the current hike of Rs 3 it would be 2nd hike within a quater of year time span. This hike would impact overall transport cost of good and raise retail and wholesale price of essential commodity thus breaking common man's backbone once again. Currently diesel is sold at 6.05 subsidy while a 14.2kg household cylinder are sold at 267 rupee below. You may know that you can only use 6 cylinder per connection per year beyond that you get additional cylinder Rs 750 each without any subsidy.



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