Petrol price was on Sunday hiked by Rs 1.29 a litre while diesel rate was raised by 97 paise a litre. This is the third increase in just a month for petrol while, the second hike for diesel in a fortnight. The actual hike after considering VAT would be Rs 1.66 a litre in Delhi for petrol and Rs 1.14 for diesel, effective from Sunday’s midnight as the increase in rates announced by oil firms is excluding state levies.
Petrol price was hiked by Rs 2.21 a litre on December 17 and diesel by Rs 1.79 per litre, excluding local levies. The real amount after considering VAT came to Rs 2.84 per litre in Delhi for petrol and Rs 2.11 for diesel.
Following Sunday’s hike, petrol in Delhi will cost Rs 70.60 a litre from today as compared to Rs 68.94 earlier. Likewise, a litre of diesel will cost Rs 57.82, up from Rs 56.68 from today.
Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) reviews charges on every 1st and 16th of the month based on global price in the previous fortnight
“The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.
It said the shift in prices in the global market and foreign exchange rate shall remain to be checked closely and emerging trends of the market will be reflected in future price changes.