Petrol price was on Friday hiked by Rs .75 per litre and diesel by 50 paise a litre with effect from midnight. The reason behind the hike of petrol/diesel prices is mainly the value of rupee in comparison with the US dollar in international market, said expert.
The petrol price was decreased by 3 rupees on May 1. While the diesel price was last hiked on May 11, by 90 paisa a litre after the companies skipped raising rates in April to avoid troubles for the government during the Budget session of Parliament.
The increase announced is excluding local sales tax or VAT and the actual hike for consumers would be more after the incidence of duty is included.
With today’s hike, the rates of petrol per litre, allowing for local taxes, will be Rs.63.99 in Delhi, Rs.70.68 in Mumbai, Rs.66.85 in Chennai and Rs.71.29 in Kolkata.
The new rates for diesel per litre will be Rs.50.25 in Delhi, Rs.56.66 in Mumbai, Rs. 53.53 in Chennai and Rs.54.76 in Kolkata.