Following are the highlights of the decisions on petroleum sector taken here Wednesday at a meeting of India's Cabinet Committee on Political Affairs, presided over by Prime Minister Manmohan Singh.
- Petrol prices to be hiked by Rs.5 per litre
- Diesel to be hiked by Rs.3 per litre
- No hike in kerosene prices
- Cooking gas to be dearer by Rs.50 per cylinder
- Hikes to take effect from 12 a.m. Thursday
- Petrol to cost Rs.50.52 per litre in Delhi
- Petrol to cost Rs.55.51 per litre in Mumbai
- Diesel to cost Rs.34.76 per litre in Delhi
- Diesel to cost Rs.39.08 per litre in Mumbai
- Import duty on crude oil reduced to nil from 5 percent
- Import duty on diesel and petrol cut to 2.5 percent from 7.5 percent
- Excise duty on petrol and diesel cut by Rs.1
- Excise, tariff cuts to cost exchequer Rs.226 bn this fiscal
- Oil retailers to earn Rs.211 bn more this fiscal due to hike
- Government to issue oil bonds worth Rs.946 bn to help oil firms
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