Indian government Hikes fuel Prices.

Petrol will now be dearer by Rs 5, diesel by Rs 3 and LPG (cooking gas) will cost Rs 50 more. The Cabinet, however, has decided against increasing kerosene price.

Rates will be effective from midnight April 4th.

STATE	MS	HSD
Maha-Mum	55.54	39.12
Delhi	50.56	34.80
West Bengal	53.97	36.94
Tamil Nadu	54.64	37.44
Chandigarh	50.19	34.69
Haryana	50.53	34.61
Punjab	55.08	34.31
Himachal Pradesh	52.78	35.45
Jammu & Kashmir	51.82	35.06
Srinagar- Srinagar Depot Pricing Area	53.16	36.00
Uttaranchal	51.67	36.80
Uttar Pradesh	53.52	37.50
Rajasthan	53.62	37.17
Madhya Pradesh	54.15	38.68
Goa	51.40	37.30
Gujarat	54.97	39.44
Chattisgarh	53.92	38.29
Jharkand	51.03	36.61
Orissa	51.62	37.66
Bihar	53.61	37.09
Andhra Pradesh	56.10	37.98
Kerala	53.32	37.95
Karnataka	57.89	39.44

The price hike would help oil companies to earn Rs 21,123 crore more. As part of measures, the government decided to take a burden of Rs 94,601 crore for which it will issue oil bonds to state-run BPCL, HPCL and IOC which were reporting a daily loss of o ver Rs 720 crore. In addition, the oil producing PSUs like ONGC would shell out Rs 60,000 crore through discounts to state-owned oil refiners and marketing companies.

Despite all the measures, there would still be a gap of Rs 29,000 crore, the Revenue Secretary, Mr P V Bhide told reporters briefing about the decisions taken at the Cabinet.