In an unprecedented move, Government Of India raised the fuel prices drastically. Petrol price is raised by Rs5 and diesel is up by Rs3. Surpisingly the common man’s gas LPG is not exempted. LPG price is raised by Rs50. Also the Government has introduced a quota system for LPG cylinder.According to the new system people who have LPG connections would get only eight cylinders per year at the current rate, no matter the size of the household. If extra cylinders are required, one would have to pay double the rate. However ,there is no hike in the price of kerosene.The hike in prices of LPG,diesel and petrol will come into effect from midnight tonight (Wednesday). This hike in prices is set to trigger another wave of raise in Wholesale Price Index in turn the inflation. Inflation is likely to be 10-12%. Following the announcement, Auto stocks have started dipping. Maruti has lost 3.5% and Tata Motors is down by 2.9%.
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Petrol/litre Diesel/litre
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Delhi Rs 50.56 Rs 34.80
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Mumbai Rs 55.54 Rs 39.12
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Chennai Rs 54.64 Rs 37.44
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Chandigarh Rs 51.19 Rs 34.69
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Bangalore RS 52.89 RS 34.69
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Kolkata RS 48.98 RS 33.96
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Lucknow Rs 53.52 Rs.37.50
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