Monday, June 20 2005 12:22 Hrs (IST) - World Time -

New Delhi: Oil PSUs will raise petrol price by Rs 2.50 a litre and diesel by Rs 2.0 from tonight (Jun 20, 2005) even as kerosene and LPG prices remain unchanged.

"The Cabinet has agreed to raise petrol prices by Rs 2.50 and diesel by Rs 2.0 per litre," Information and Broadcasting Minister Jaipal Reddy told reporters after the meeting of Cabinet Committee on Economic Affairs, chaired by Prime Minister Manmohan Singh.

There will be no increase in the price of kerosene and LPG (cooking gas), he said.

Petroleum Minister Mani Shankar Aiyar said the cabinet decision was based on the principle of "equitable burden sharing by Goverment, consumers and oil companies." Diesel prices were needed to be raised by Rs 5.13 per litre and petrol by Rs 4.68 a litre due to surge in world oil prices and tax changes announced in the budget.