LPG Diesel Price Up June 2011 - LPG up Rs. 50 - Diesel up

LPG Diesel Price Up June 2011 - LPG up Rs. 50 - Diesel up Rs. 3 - Hike in Diesel LPG Gas Cylinder Kerosene Prices - Fuel Price increase Rise Jun 24 2011 - Fuel Prices Hiked Increased Rised - Mumbai, Delhi, Chennai, Kolkata - Custom Duty eliminated 0% Crude

Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee met today and hiked fuel prices throughout India including Mumbai, Delhi, Chennai, Kolkata

LPG Gas Cylinder (Domestic) - Rs. 50 per cylinder excluding VAT

Diesel - Rs. 3 per litre

Kerosene (PDS) - Rs. 2 per litre

- Loss to exchequer because of subsidy Rs. 1.71 lakh crores

- 0% custom duty Crude Oil and all Petro Products. Elimination of 5% custom duty. Will result in Loss of 26,000 crore for full fiscal year 2011-12

- Reduction in excise duty on diesel from Rs. 4.60 to Rs. 2 liter Revenue loss Rs. 23,000 crore

- Hike in prices will reduce the under recovery of oil companies only by Rs. 21,000 crore

Valuation of upstream oil cos to improve post hike: Tulsian

The government today took a bold step towards reform by allowing for the partial de-control of fuel prices. Starting midnight tonight petrol prices will be market linked. That amounts to Rs 3.50 hike per litre of petrol - a 6.7% increase.

Diesel prices will also be de-regulated, but over time. For now they have been hiked by Rs 2 rupees a litre - that's a 5% increase.

Rice at Rs 100/kg, LPG Rs 1,200 in Manipur

In Manipur, the continuing monetary blockade by Naga groups seriously affecting key commodity prices compel the inhabitants of the state to take on the avenue.

Manipur is experience an detonation of the prices of rice sold to RS 100 per kg, LPG at Rs 1200 a barrel and petrol at Rs 150 per liter.

The blockade of National Highway-39 from the Naga bodies in reprisal for the Manipur government decision to stop the NSCN-IM Secretary T Muivah visits his familial village in Ukhrul district and also in complaint against two Naga boys in firing by security armed forces deployed to stop Muivah entry Manipur .