Petrol price hike in Goa / India

This info is about petrol price hike in Goa and across India that has decided by Government ministerial panel to increase at least Rs 3 for Petrol per liter whereas delay in hike for Diesel and Cooking Gas. Petrol price hike would be discomfort for the citizen even though Government runs loss on crude oil purchase.

Petrol price hike in Goa

Goa, 11th May 2011, Indian Government proposed to increase price hike for Petrol at least Rs 3 across India and postponed to increase prices for Diesel and Cooking Gas at present. Goa too affected for this hike on petrol which minimum Rs 3 would be increased per liter very soon.

S Jaipal Reddy (Oil Minister) announced that the meeting was delayed to accommodate preoccupation of some ministers on the panel, the next meeting could be anytime on 17th or 18th May 2011. The panel was about to discuss on raising prices of Cooking Gas by Rs 25 to 50 per refill and Diesel by Rs 2 to 2.50.

Crude oil and state run oil

Since oil minister is ready for green signal on petrol price hike once the last phase of polling gets over on 11th May 2011 in West Bengal, the oil companies will then increase petrol price within this week. Currently, the mix of crude oil used to buy at average of $118 to 120 and the firms are losing Rs 8 a liter on petrol, Rs 16 on diesel, Rs 29 on kerosene and Rs 330 on cooking gas refill.

Indian Government projected to loss even more in the future. Still state-run oil marketers are free to revise petrol price with prompt from the oil ministry. Goa state oil marketers have to abide by the same.

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