KOCHI: A rise in petrol prices is not a new phenomenon. After its deregulation in June 2010, petrol price in the state was h..
KOCHI: A rise in petrol prices is not a new phenomenon. After its deregulation in June 2010, petrol price in the state was hiked eight times.A study conducted by the Centre for Public Policy Research (CPPR) on six petrol pumps in Kochi shows a 17 percent reduction in petrol sales in litres after the hike and an 11 percent reduction in petrol sales in rupees.The study states that in April 1989, petrol cost Rs 8.50 per litre, while diesel Rs 3.50. Today, petrol costs Rs 65.6 per litre, after a Rs 5 increase on May 15. Due to the public protest, the state government waived off sales tax on the hiked portion of the price, which brought down the price by Rs 1.25 per litre.
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