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Bangalore, Nov. 29

Petrol will be cheaper by Rs 2.23 and diesel by Rs 1.12 per litre in the State with effect from Wednesday midnight following reduction in fuel prices announced by the Ministry of Petroleum and Natural Gases.

In Bangalore, petrol would cost Rs 52.92 against Rs 55.15 and diesel Rs 36.39 (Rs 37.51). The price of petrol would be Rs 52.60 in areas adjoining Bangalore city.

The reduction in prices would be on the same line (Rs 2.23 for petrol and Rs 1.12 for diesel) in the entire State, except for minor variations.

consumers happy

Vehicle users heaved a sigh of relief after a long time as they had been used to continued increase in the fuel price for over a year. Prices of petrol and diesel were revised early this year when it up by Rs 4.49 and Rs 2.25 on June 5. The prices before the revision on June 5 were Rs 50.66 and Rs 35.26, respectively.

Consumers expressed happiness over the reduction in the prices.

However, Karnataka continued to enjoy the dubious distinction for being the costliest among the southern States. The prices would continue to remain the highest among its neighbours, mainly due to the five per cent entry tax. Though diesel price in Maharashtra is around Rs. 37 (except Brihanmumbai area) after the Wednesday revision, it is set to come down to around Rs 35 from December 1 after the Maharashtra Government slashes the sales tax by 10 per cent from 34 per cent to 24 per cent.

In Chennai, the fuel prices will be Rs 34.41 for diesel and Rs 52.92 for petrol against Karnataka's rates of Rs 36.30 and Rs 52.92, respectively.

(This article was published in the Business Line print edition dated November 30, 2006)
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