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Petrol prices hiked by 70 paise: A lowdown

Even as oil marketing companies bring the hike in petrol prices by 70 paise a litre into effect starting Tuesday, there is widespread opposition over the move.

BT Online Bureau | July 24, 2012 | Updated 14:19 IST

Even as oil marketing companies bring the hike in petrol prices by 70 paise a litre into effect starting Tuesday, there is widespread opposition over the move. The oil companies said that the hike was due to increasing international oil prices and decline in the rupee's value.

Trinamool Congress supremo and West Bengal Chief Minister Mamata Banerjee has already expressed her disappointment over the announcement of a petroleum price hike, and demanded an immediate rollback of the raised rates.

Banerjee also lashed out at the Congress-led United Progressive Alliance - where her party Trinamool Congress is the second largest constituent - for not discussing the matter with the allies.

She demanded that the central government, henceforth, engage all political parties in wider consultations to chalk out future line of action to tackle inflation.

While states oppose the petrol price hike, there is one state that continues to have lower petrol prices and suffers losses due to that. Goa, where petrol prices are the lowest in the country, has earned the distinction at some cost to the government - about Rs 165 crore, which is big for the small state.

Petrol in Goa is the cheapest in the country.

According to Chief Minister Manohar Parrikar, the exchequer lost Rs 30.68 crore in two months after the newly elected Bharatiya Janata Party-led coalition ministry virtually abolished value added tax (VAT) on the fuel, reducing it to 0.1 per cent.

Missed the hike in petrol price rates in you city . Take a look at revised prices -

NEW DELHI
Current price - Rs.67.78
Revised price - Rs.68.48
Difference - Rs.0.70

MUMBAI
Current price - Rs.73.35
Revised price - Rs.74.23
Difference - Rs.0.88

KOLKATA
Current price - Rs.72.74
Revised price - Rs.73.61
Difference - Rs.0.87

CHENNAI
Current price - Rs.72.27
Revised price - Rs.73.16
Difference - Rs.0.89

HYDERABAD
Current price - Rs 74.89
Revised price - Rs.75.80
Difference - Rs.0.91

BANGALORE
Current price - Rs.76.39
Revised price - Rs.77.30
Difference - Rs.0.91

With agency inputs

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