Petrol price hiked by 70p/ltr, diesel by 50p/ltr, effective today

Aug 01 2013, 00:30 IST
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Petrol price was last hiked on July 14 by a steep Rs 1.55 a litre, which was the fourth increase in rates in six weeks, as falling rupee made oil imports costlier. Petrol price was last hiked on July 14 by a steep Rs 1.55 a litre, which was the fourth increase in rates in six weeks, as falling rupee made oil imports costlier.
SummaryPetrol price in Delhi will go up by 84p to Rs 71.28p/ltr, while in Mumbai it will cost Rs 78.61.

From a crashing rupee and a recalcitrant Reserve Bank of India (RBI), to a government fighting economic battles on many fronts in the face of a rising subsidy bill that is impacting current account deficit (CAD), the consumer is left footing the ever-rising bill - this time it is all about fuel. The government, effective midnight, has effected yet another petrol and diesel price hike, effective today.

While petrol price was hiked by 70 paisa per litre, the fifth increase in rates in two months, diesel price was raised by 50 paisa per litre on firming international oil prices.

Following are the revised prices of petrol and diesel in four metros after oil firms hiked rates with effect from midnight tonight.

Current Price | Revised | Hike

Delhi | 70.44 | 71.28 | 0.84

Kolkata | 77.76 | 78.64 | 0.88

Mumbai | 77.73 | 78.61 | 0.88

Chennai | 73.60 | 74.49 | 0.89

All rates in Rs

Also read: 'Why target only subsidies for the poor?'

The increase in rates are excluding local sales tax or VAT. The actual hike will be higher and will vary from city to city.

Petrol price in Delhi will go up by 84 paisa to Rs 71.28 per litre while it will cost Rs 78.61 per litre in Mumbai as against Rs 77.73 currently.

Also read: CCI to probe alleged cartelisation in petrol pricing

This is the fifth increase in rates since June and in all petrol prices have gone up by a massive Rs 6.82 per litre.

Oil firms had on June 1 raised prices by 75 paisa, excluding VAT, and followed it with a Rs 2 per litre increase on June 16, a Rs 1.82 increase on June 29 and Rs 1.55 hike on July 15.

In a parallel move, they also hiked diesel rates by 50 paisa, excluding VAT, in line with the January decision of the government allowing them freedom to raise prices in small doses every month to wipe out mounting losses.

Related: Diesel & LPG usage falls on frequent price hikes, cylinder cap

Diesel price in Delhi has been hiked by 56 paisa to Rs 51.40 per litre while it will cost Rs 58.23 in Mumbai from tomorrow as compared to Rs 57.61 currently.

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