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Petrol, diesel prices up by 11 & 9 paisa each
New Delhi, SEPT 8 (AGENCIES):
Published on 9 Sep. 2010 12:25 AM IST
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Petrol and diesel prices are up again from Wednesday, by 11 and 9 paise respectively.
The increase is due to a hike in the commission paid to petrol pump dealers. In Delhi, petrol prices will rise by 11 paise to Rs 51.56 a litre, while diesel will be costlier by 9 paise at Rs 37.71 per litre. The hike has been implemented since Tuesday midnight.
Petrol and diesel prices in the country will rise marginally from midnight Wednesday, following the government's decision to raise the commission paid to petrol pump dealers.
The increase in petrol prices across the country is in the range of 11 to 12 paisa per litre, while diesel will be around 9 to 10 paisa per litre more expensive.
The government in June took decisive steps towards decontrolling fuel prices with the Empowered Group of Ministers freeing petrol from price controls. Diesel prices however continue to be governed by the government.
Meanwhile, Indian Oil Corporation (IOC) chairman, B.M. Bansal Monday said IOC would not like the petrol price to be changed frequently unless there are major fluctuations in crude prices.
Noting that the crude price was around $74 a barrel when the fuel prices were revised last, he said: “It is a touch and go situation” now with regard to the under-recovery on petrol price. Bansal was interacting with mediapersons after the Annual General Meeting (AGM) of Chennai Petroleum Corporation Ltd (CPCL), a group company of IOC.

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