PPC, which met on 1 March, decided by a sharp increase in fuel prices. The new pump price for gasoline increased from Rs 49.30 to Rs 52.25 per liter. The price of diesel increased from Rs 41.20 to Rs 43.95. This represents an increase of 5.98% to 6.67% for petrol and diesel. These new prices are effective from midnight on Friday.
Mark their application, however, a change in size. The government has decided to remove the controversial removal of Re 1.00 for diesel and Rs 1.25 for premium gasoline per liter on fuel. This sample was used to repay the losses of about Rs 5 billion from the State Trading Corporation due to hedging risky.
PPC considered four main factors to revise prices. "curve upward and persistent global current market price calculation retail for Gasoline (petrol) and Gas Oil (diesel) a revision covering up operating expenses of oil companies, unchanged from 2008, Rs 1.42 to Rs 1.67 per liter for diesel and Rs 1.47 to Rs 1.82 for petrol and finally the current level of Price Stabilization Account (PSA). '
