Swallowing the bitter pill, government of India on Wednesday finally announced the highest ever price hike on petrol and related fuels making petrol costlier by Rs 5, diesel by Rs 3 and LPG by Rs 50.
To combat the spurt in global oil prices government has to bite this bullet and go for the hike amidst protest from opposition as well as allies. Effective from Wednesday midnight i.e. 5th June 2008 petrol will cost Rs 50.56 a litre in Delhi, Rs 55.88 in Mumbai and Rs 55.07 in Chennai. Diesel will cost Rs 34.80 in Delhi, Rs 39.54 in Mumbai and Rs 37.73 in Chennai.
Things would be a bit better for the residents of Kolkata as Left Front has announced cut in sales tax on all petrol and diesel related products in all the states ruled by it thus making it lighter on common man's pocket.
Consequently, the rise in petrol price in the state will be Rs 2.88 a litre as opposed to Rs 5 in the rest of the country, and Rs 1.62 instead of Rs 3 for diesel. This means a litre of petrol in Kolkata will be available at Rs 51.86 while you can get same amount of diesel for Rs 35.58.
