Gasoline at Rs 51.30, diesel at Rs 43.50

The Petroleum Pricing Committee (PPC) agency responsible for calculating fuel prices, met on Monday evening under the chairmanship of Fa Li Kai Cheung Suet to set new prices, meeting punctuated by soaring prices on the international market, which also hit the bar from $ 115 a barrel in early March.

Thus, less than three months after a price revision (January 22, 2011), drivers are faced with another raise.

The increase could push fuel prices even of basic commodities due to high production cost which is now called upon to continue his rise to exorbitant highs.

At the State Trading Corporation (STC) looks to the future with optimism. The end of winter in Europe and the United States was welcomed as a breath of fresh air. Consumption in summer is less dependable, so a decline in consumption will help ease the price. Returns to normal life in Arab countries also transfer the situation.

According to criteria established by the PPC, if the percentage decline between the calculated price and the retail price is between 7 and 10%, it will automatically lower the retail price. But until a recovery situation, consumers are asked to pay more since this morning.

Prices

Date - Petrol (Rs/liter) - Diesel (Rs/liter)

March 14, 2011 - 51.30 - 43.50

January 22, 2011 - 48.50 - 39.90

October 5, 2010 - 44.70 - 35.50

September 3, 2010 - 42.65 - 35.50

August 4, 2010 - 46.10 - 34.00

July 3, 2010 - 42.90 - 36.75

June 3, 2010 - 46.35 - 39.70

May 8, 2010 - 43.15 - 36.95

April 3, 2010 - 46.65 - 34.40

March 3, 2010 - 43.40 - 34.40